A county-wide non-profit organization that works to provide affordable housing has received a half-million grant from the U.S. Treasury Department.
The San Luis Obispo County Housing Trust Fund received the $500,000 from the Treasury Department’s Community Development Financial Institutions (CDFI) Fund.
It was the local group’s second award from the CDFI Fund, and Housing Trust Fund executive director Jerry Rioux said his organization is “ecstatic.”
“With the receipt of this grant, we will have nearly $3 million available to finance affordable housing projects in San Luis Obispo County,” Rioux said.
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The Housing Trust Fund’s award was one of 180 grants totaling $104.9 million that were announced on August 19.
The local Housing Trust Fund is a nonprofit corporation created in 2003 to increase the supply of affordable housing throughout San Luis Obispo County.
Rather than directly develop or own housing, the Housing Trust Fund provides financing and technical assistance to help private developers, nonprofit agencies and local governments produce and preserve housing that working families, seniors on fixed incomes and persons with disabilities can afford to rent or buy.
Since making its first loan in 2005, the Housing Trust Fund has provided or committed more than $6 million in financing to help create or preserve 216 units of affordable housing, Rioux said.
For more information go to www.slochtf.org.