(San Jose: March 23, 2006) In a report issued today, the Housing Trust of Santa Clara County is cited as one of fifteen “success stories” that demonstrate creativity in addressing the nation’s shortage of affordable homes.

“Solving America’s Shortage of Homes Working Families Can Afford: Fifteen Success Stories” will be released by Washington, DC-based nonprofit Homes for Working Families, in conjunction with the Urban Land Institute and the Fannie Mae Foundation. The report looks at 15 programs that are successfully addressing the severe shortage of homes that working families can afford. Resiliency and adaptability are the hallmarks of every solution highlighted in this report; the Housing Trust of Santa Clara County was selected and cited for combining public and private funding to seed development of affordable homes for families in a high-cost area.

“This research is our first step in illustrating solutions and principles for communities seeking to provide homes within the reach of working families,” said Beverly Barnes, executive director, Homes for Working Families. “These examples can help guide others looking to change policies, practices, and programs that affect the availability of affordable homes.”

The report can be found at http://www.knowledgeplex.org/spotlight.html?id=39&preview. Research for the report was conducted in 2004, and current data for the Housing Trust of Santa Clara County is now available: as of March 1, 2006 Housing Trust investments have helped more than 1,450 families buy their first home, created 745 units of housing or shelter for the homeless, and created 1,275 affordable apartment homes for families throughout Santa Clara County.

The Housing Trust of Santa Clara County is a nonprofit community benefit corporation that creates affordable housing opportunities by investing in support for first-time homebuyers, developers of affordable multifamily rental apartments, and developers of housing and shelters for the homeless with special needs. Thanks to the support of local governments, employers, foundations and citizens more than 5,310 families have been helped through direct or indirect assistance.