Sonoma County Housing Fund Awarded Economic Prosperity Award 2023
We’re honored to announce that the Sonoma County Housing Fund – a partnership between the Santa Rosa Metro Chamber and Silicon Valley Housing Trust – has received the first-ever Economic Prosperity Award for Housing & Community Development at the 2023 Fall Economic Perspective, presented by the Sonoma County Economic Development Board.
The Sonoma County Housing Fund is a unique partnership that is accelerating affordable housing development throughout Sonoma County and we’re so proud to have these collective efforts recognized.
In 2019, the Metro Chamber identified the opportunity to accelerate housing development by helping to finance “pre-development” costs – things like site acquisition, the permit and entitlement process, environmental review, architectural and site preparation, among other activities. These development expenses are often very difficult to finance or very expensive to finance through traditional commercial financing, presenting a significant obstacle for otherwise financially viable projects to begin construction. Housing Trust Silicon Valley provides all lending and loan services for the program, which has funded 6 projects since its creation, providing new homes for hundreds of families throughout Sonoma County.
