VCHTF receives $100,000 investment from McCune Foundation
Ventura County Housing Trust Fund looks for potential partners with similar goals to help fulfill our mission of increasing the supply of affordable housing in Ventura County. Such a partnership has been recently forged with the McCune Foundation. This relationship is unique in that the Foundation is lending VCHTF $100K from their endowment funds. Their investment will be matched by the State of California, Prop. 1C, the Housing and Emergency Shelter Trust Fund Act of 2006. Leveraging the Foundation monies with the State grant doubles the impact to create new affordable housing projects in Ventura County. As the loan is repaid, both the Foundation funds and the State funds will circulate through VCHTF’s revolving loan pool in perpetuity, thereby becoming available for loans to other worthwhile housing projects and helping both organizations to pursue their missions.
The McCune Foundation was established in 1990 by George D. McCune and Sara Miller McCune, the founders and principal management team (for 25 years) of SAGE Publications, Inc. The Foundation supports projects that address critical issues in Santa Barbara and Ventura Counties by empowering and mobilizing excluded populations. They support grassroots, bottom-up organizations focused on creating systemic change by addressing the causes, not symptoms, of social problems. The Foundation works to bring people together to jointly act in their self-interest.