Housing Trust Funds
Housing Trust Funds are garnered through in lieu fees collected from the Inclusionary Zoning Program. These fees are assessed on developers and project owners in lieu of building affordable units on site. The affordable housing inclusionary requirement for developments in Santa Barbara County is generally 20% for developments of five (5) or more units. In some cases, developers opt to pay an in lieu fee rather than construct affordable units.
Housing Trust Funds are used to support the production and maintenance of affordable housing in the County of Santa Barbara. They are made available to profit motivated and non-profit developers and public agencies through the annual Notice of Funds Available (NOFA) process. They are utilized for the provision of a range of housing that will benefit moderate, low and very low income households, including home ownership, rental housing, special needs and farmworker housing, and transitional housing. Funds are limited, and can only be expended in the Housing Market Area (HMA) from which they were exacted.
The County has five HMA's