Rabobank has awarded a $10,000 grant to the San Luis Obispo County Housing Trust Fund, bringing its 10-year commitment to $1.1 million.
"Rabobank is proud of its affiliation with the Fund," said Steven L. Harding, Rabobank’s regional president. He praised the Fund for lending its capital in ways that facilitate the production of affordable rental and homeownership housing.
Jerry Rioux, the fund’s executive director, said “Rabobank has been one of our most generous supporters and is also the largest investor in our revolving loan funds."
The nonprofit Housing Trust Fund was formed in 2003 to increase the supply of below-market-price housing throughout San Luis Obispo County.
Since making its first loan in 2005, the Housing Trust Fund has provided nearly $7 million in financing to help create or preserve 218 units of subsidized housing in San Luis Obispo County.
Approximately $1.6 million is currently available from the fund to finance projects.