Catholic sisters invest $250,000 into affordable housing in SLO County

For the third time, the Sisters of Charity of Cincinnati have invested in the San Luis Obispo County Housing Trust Fund, this time giving $100,000 from their Seton Enablement Fund, bringing their total contribution to $250,000.

“This investment makes them our fourth largest investor to date,” said Jerry Rioux, executive director of the Housing Trust Fund.

The proceeds will provide financing for affordable rental and ownership housing in San Luis Obispo County. Since its inception in 1979, the Seton Fund has provided nearly 300 social investments throughout the world, totaling more than $15 million. Additional information on the Seton Enablement Fund is available online at www.srcharitycinti.org/enablement.htm.

The local Housing Trust Fund is a nonprofit corporation created in 2003 to increase the supply of affordable housing in San Luis Obispo County.

Rather than develop, own or manage affordable housing, the fund provides financing and technical assistance to help private developers, nonprofit agencies and local governments create, preserve and improve homes that working families, seniors on fixed incomes and persons with disabilities can afford to rent or buy.

Since 2005, the Housing Trust Fund has provided more than $6 million in short-term financing to assist with 214 affordable rental and for-sale homes throughout the county. During 2010, roughly 30 percent of all housing starts in the entire county received financing from the trust fund, according to Rioux. More than $2.5 million is currently available to finance additional affordable housing projects, he added.

For additional information go to www.slochtf.org.