We build innovative partnerships and resources to meet community housing needs
Board of Directors
Workforce Homeownership Program
Lennox Foundation Grant Awarded
The Housing Trust Fund has received generous grant funding from the California Association of Realtors® Housing Affordability Fund (HAF), Lennox Foundation, Santa Barbara Foundation and the Towbes Foundation for Capacity Building for Workforce Housing.
New Workforce Homeownership Program
The Workforce Homeownership Program brings together REALTORS®, employers, developers and financial institutions to create a workable program that will enable employees to purchase a home in the community where they work. The program simultaneously addresses both sides of the housing equation: 1) Housing cost reduction strategies with the development community; and, 2) Enhanced employee home purchasing ability through employer financial assistance. The program envisions use of resale controls linked to increases in the median area income to preserve the long-term affordability of the housing for future generations of the workforce.
Workforce Housing ‘Affordability Gap’
The Santa Barbara median priced home was $430,000 in January 2008, as reported by the California Association of Realtors®. The North County median home price was $292,180 while the South County median home price was $1,135,000, far beyond the purchasing ability of the majority of working families. An annual income of $188,400 would be necessary to purchase an entry-level single family home in South County.1 However, the average annual salary in Santa Barbara County for all non-farm industries was only $43,593 in 2007.2
The Housing Trust Fund of Santa Barbara County - PO Box 60909 - Santa Barbara, CA 93160-0909