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Kevin Zwick Executive Director Housing Trust of Santa Clara County

Kevin Zwick Executive Director Housing Trust of Santa Clara County. Why Start a Housing Trust?. In only 30% of residents could buy a house

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Kevin Zwick Executive Director Housing Trust of Santa Clara County

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  1. Kevin ZwickExecutive DirectorHousing Trust of Santa Clara County

  2. Why Start a Housing Trust? In only 30% of residents could buy a house Activists organized for a Housing Trust, County Supervisors commissioned studySilicon Valley Leadership Group organized business community to get involved and bring in new resources for affordable housing

  3. Why do we still need a Housing Trust? Homebuyers need larger down payments and steady work Workers, seniors, families need $25/hr to two-bedroom rental Over 40,000 households pay more than half their income to rent Over 7,000 homeless or in shelters each night, including 627 children Over 15,000 new foreclosure filings last year just in San Jose

  4. Achievements: First-Time Homebuyers Since 2001, HTSCC has helped over 2067 households buy their first home Over 620 public sector employees, 450 teachers, and 220 engineers and high-tech workers Less than 10 defaults (<0.5%) – statewide average June 2009 was 9.5%; long term average is over 2.0%

  5. Achievements: Affordable Housing Loans and Homeless Grants 54 Loans to Affordable Housing Developers, creating 2962 new units Affordable rental homes for seniors, working families, people with special needs with rents based on 30% of a household’s income 36 grants to Homeless Service Providers assisting over 2800 individuals and families move to permanent housing or remain in their homes with emergency rental assistance

  6. Achievements: Program Spending • 47% - Homebuyers; 29% Homeless Special Needs; 24% Multifamily Rentals • 73% for Very Low Income; 10% for Low Income; 17% for Moderate Income

  7. What’s Next?: First-Time Homebuyers • 4 loan programs for First Time Homebuyers with assistance between $6500-$75,000 • Closing Cost Assistance Program; Mortgage Assistance Program; Down payment Assistance Program, and Equity Share Co-Investments (ESCO) • Programs available Countywide • FTHB Workshops throughout County this Spring

  8. What’s Next:Affordable Housing and Homelessness • Loans for acquisition and predevelopment available countywide • Permanent Loans for Extremely Low Income housing, permanent supportive Housing available • Emergency Homeless Prevention Grants available now • Safety Net Capital Improvement Grants : $200,000 per provider to repair and upgrade existing safety net housing in County-- Available Now

  9. What’s Next:Foreclosure Mitigation in San Jose In 2010, San Jose Consortium, consisting of HTSCC as the Lead Agency, City of San Jose Housing Department, and NHSSV, was awarded $25,000,000 from ARRA for NSP2 Purpose is to convert at least 200 foreclosed properties into affordable homes for low and moderate income individuals and families in 35 census tracts in San Jose In May 2010 – PAL loans of $50,000 available for people buying foreclosed properties In Summer 2010 – RFQ and NOFA for developers to acquire and rehabilitate foreclosed homes

  10. Find out More about the Housing Trust New website at www.housingtrustscc.org 2009 Annual Report available now Contact Kevin Zwick to schedule a First Time Homebuyer Workshop in your city or at your business

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