Ventura affordable housing projects get $1 million boost

scpcadmin | July 12, 2018 in | Comments (0)

 

Ventura affordable housing projects get $1 million boost

Ventura’s housing authority has received more than $1 million in grants to help complete two residential projects for low-income seniors and farmworkers. 

The money is coming from the Federal Home Loan Bank of San Francisco, a group of banks, credit unions, insurance companies and others that fund construction and rehabilitation of affordable housing. 

“This is critical funding to close gaps that we have in the affordable housing financing process,” said Nicholas Birck, community affairs manager for the Housing Authority of the City of San Buenaventura. 

Even with tax credits, federal and state money and other funding sources, it’s difficult to raise all the money to build in an expensive market like Ventura, Birck said.

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