Two Santa Barbara County nonoprofit economic programs have been awarded funds totaling $1.2 million through the U.S. Department of Treasury’s Community Development Financial Institution Fund.
The grants will allow increased lending and investments in low-income and economically distressed communities, said Congresswoman Lois Capps, D-Santa Barbara, who announced the awards.
The Housing Trust Fund of Santa Barbara County and Women’s Economic Ventures in Santa Barbara each received $600,000, Capps said.
The awards were part of more than $172 million in grants from the Department of Treasury to only 191 organizations around the country.
The Housing Trust Fund of Santa Barbara County will use the money as lending capital for community sponsors of rental and owner-occupied housing projects for low-income working families and people with special needs, Capps said.
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