Revolving Loan Fund Success Stories

Since launching our programs in 2005, we have raised $6.2 million in private and public lending capital to support affordable housing production and have committed $6.99 million in direct financing to facilitate 312 units of permanently affordable housing for our most vulnerable low-income and special needs populations.

We have funded housing for low-income homeless persons, working families, senior citizens, disabled persons and women with children in substance abuse recovery.  All HTF funded projects provide safe and affordable housing for low-income under-served populations and persons with special needs who find it difficult to locate housing in the expensive Santa Barbara County housing market.

 

Revolving Loan Fund success stories include:

HEATH HOUSE: In 2020 we funded a $375,000 rehabilitation and permanent financing loan to Heath House, a housing preservation project in downtown Santa Barbara sponsored by Peoples’ Self-Help Housing Corporation (PSSH) that provides permanent affordable housing with supportive services for formerly homeless persons. Our loan was part of a collaborative effort to fund the project using City of Santa Barbara, County of Santa Barbara and State HCD resources, with Project-Based Section 8 vouchers provided by the Housing Authority of the City of Santa Barbara.

Heath House is a 5-bedroom single-family home located at 108 E. Cota street that was originally used for housing for persons afflicted with AIDS. Due to habitability issues the home remained unoccupied for several years. PSHH acquired and rehabilitated the home, fixing the property’s health and safety issues and improving accessibility.  Heath House now operates as a group home and provides 7 beds targeted to extremely low and very low-income homeless persons. PSHH provides licensed social workers for counseling, case management, life skills training and referral to appropriate social services.

SAGUNTO PLACE: In 2019 HTF funded a $544,000 site acquisition loan to Thompson Housing, LLC and the Housing Authority of the County of Santa Barbara (HACSB) to help them develop the 23-unit Sagunto Place affordable studio apartment complex in the community of Santa Ynez. The project will be serve very low and low-income households and individuals, with 12 of the project units reserved for homeless persons. HACSB will provide 22 Project-Based Section 8 Vouchers for the project and United Way of Northern Santa Barbara County will provide supportive services for the residents.

Located on the northwest corner of Sagunto Street and Meadowvale Road in Santa Ynez, the two-story modular construction project will include 22 residential studio units and 1 one-bedroom manager’s unit. The ground floor will include a meeting room, office areas and a common laundry room.  There will be an elevator to the second floor. The 357.5 sq. ft. studios will have a kitchenette, fully handicapped accessible bathroom and a private exterior balcony or patio. The project will have a rooftop solar photovoltaic energy system that will supply most of the electricity needed to operate the building. Landscaping will use plants native to the Santa Ynez Valley and have a water-reducing irrigation system.

STADIUM PLACE AND TULAROSA ROAD: In 2017 and 2018 the Housing Trust Fund funded two special needs group homes sponsored by the Tri-Counties Community Housing Corporation (Tri-Counties CHC). The first permanent loan of $483,000 assisted Tri-Counties CHC in acquiring and renovating Stadium Place, a single-family home in Solvang that provides permanent housing and 24-hour on-site care for medically frail persons with developmental disabilities. The second loan of $505,000 helped the agency acquire Tularosa Road, a large single-family home in the rural area of Lompoc where persons with developmental disabilities receive comprehensive services and supports that allow them the opportunity to reside in our community near their families and friends. Both group homes were substantially renovated to universal design standards, including large, non-ambulatory bathrooms, widening of hallways and installation of wide doorways, hypoallergenic vinyl flooring and fire sprinklers. Resident bedrooms have exterior egress doors for emergency access. New landscaping provides privacy for residents and promotes neighborhood integration. Stadium Place had an existing solar photovoltaic system and both homes were upgraded to current Green and Energy requirements for single-family homes. The Stadium Place and Tularosa Road group homes sponsored by Tri-Counties CHC provide the permanent housing for residents who would otherwise have to continue to live in skilled nursing facilities or the state run developmental centers.

SAWYER AVENUE AFFORDABLE HOMES: In 2017 HTF closed a $700,000 land take-out and construction loan with Habitat for Humanity of Southern Santa Barbara County to assist them in developing a 3-unit self-help homeownership project on Sawyer Avenue in the City of Carpinteria. The project was completed in 2019 and serves three very low and low-income families, including eight children, who contributed 250 hours of ‘sweat equity’ to build their own homes.

Sawyer Avenue Affordable Homes is comprised of 3 two-story homes, including one stand-alone unit at the front of the property and two attached condominium units at the rear. The construction is wood frame on a concrete slab with asphalt shingle roofs. All the units are three bedroom, two bath, with an average gross square footage of 1,259.  Special features of the project include achievement of Santa Barbara Built Green Level 4, solar voltaic systems on the roofs, passive heating and cooling systems and drought tolerant landscaping. The development is conveniently located one block off of the intersection of Carpinteria Avenue and Linden Avenue near schools, shopping, parks and public transportation.

SIERRA MADRE COTTAGES: In 2016, HTF provided a $490,000 site acquisition loan to Peoples’ Self-Help Housing Corporation (PSHH) for development of 40 units of affordable rental housing for very low and low-income senior citizens  located at 665 Sierra Madre in Santa Maria, CA.  The project was completed in September 2020.

Sierra Madre Senior Apartments is a beautiful infill project consisting of 40 single story apartment units, including 36 one-bedroom and 4 two-bedroom units, with on-site parking, open space and a 2,860 square foot community center with community room/lounge space, kitchen, library/computer room, offices and on-site laundry facilities. Other project amenities include walking paths and community garden space. The project exceeds California Title 24 energy code by at least 17.5% and achieves a silver GreenPoint rating. The development is conveniently located near a Public Transit Center, a Public Senior Center, Public Library, shopping, pharmacy, Community College and a park. On-site services provided to the residents by PSHH include a Supportive Housing Program that provides ‘hands-on’ assistance and helps residents access community services. The project serves households earning between 30-60% of Area Median Income (AMI). More info about Sierra Madre Cottages at https://www.youtube.com/watch?v=iHelDReYroc&feature=youtu.be