January 2018 - In This Issue:
TECH Fund Money Moves Fast in Mountain View
 
La Avenida Avenue rendering
It was onl y last month Housing Trust announced LinkedIn's $10 million investment in affordab le  hou sing in Mountain View  using TECH Fund - joining original backers Cisco Foundation, Sobrato Family Foundation and the David and Lucile Packard Foundation.

Today we're pleased to report all of the money LinkedIn has been p ut toward  a total of 163 homes - which means 163 families' lives will change for the better thanks to this investment. 

Part of LinkedIn's funds went to a $8.1 million loan to Palo Alto Housing to purchase a site at 950 W. El Camino Real in Mountain View to develop and operate a 100 percent affordable housing complex. Twenty of the 70 units will be reserved for permanent supportive housing, aligning with Santa Clara County's Measure A funding priorities.

Eden Housing was able to use the TECH Fund for a $9.7 million acquisition loan for an affordable housing project on 1100 La Avenida Ave. All 93 units are for residents who make 60 percent or below area median income.

The La Avenida Avenue project is also notable due to its location in the North Bayshore area of Mountain View. In December, the city completed its multi-year planning process for North Bayshore, which included a historic zoning change passed by a unanimous city council to allow up to 9,850 new housing units in the area, with 20 percent, or 1,970 homes, designated as affordable housing. For more information click here.

 
Board Member Spotlight: Kathleen King

 

Kathleen King is a California native but has called a lot of careers home. Nearly 20 years at Applied Materials, a member of the Saratoga City Council, two terms as mayor of that city, and the past ten years as CEO of the Healthier Kids Foundation.

Healthier Kids Foundation and Housing Trust are both longtime beneficiaries of the Silicon Valley Turkey Trot, and she became involved around the time of the 2009 event. "Health and housing go together well," Kathleen said, recalling the early conversations she had with Housing Trust CEO Kevin Zwick. "We're trying to help the same families and the same children, and being in a position to help makes me want to get up and go to work every day."

For the most part Kathleen's everyday is at the Healthier Kids Foundation, but she is also a member of several other state and community boards including the Valley Medical Center Foundation, Lincoln Law School Silicon Valley and the California State Dental Board. In terms of her work on the Housing Trust board she says she's been impressed at how much more Housing Trust does for affordable housing now vs. when her term first began, specifically naming the involvement and support of Housing Trust to pass  Measure A in 2016 as well as the cumulative work to make sure more people are aware of the need for affordable housing in the area.

"I wouldn't be (leaving the Housing Trust board) if my term hadn't expired but I feel good about the timing," Kathleen said. "It's a passionate and conscientious board and I've enjoyed being a part of it. A lot of good things get done." 

 

Save the Date! 

Investor Briefing March 23, 2018 
Investor Briefing - our annual  luncheon event which brings together about 500 attendees from across the housing and real estate industry, local and state government officials and the business community to reflect on recent accomplishments and challenges in the affordable housing landscape. It is also a place to make new plans for impact and network with old and new friends.
Our 2018 Investor Briefing will be at the Santa Clara Convention Center on March 23, 2018 from 10:30am to 1:00pm. Networking and registration will take place from 10:30-11:30am with the formal program beginning at 11:30.
Click here to register and attend Investor Briefing . If you  want to help sponsor investor briefing, click here. If you have any questions about sponsorships or registration contact Julie Quinn at  julie@housingtrustsv.org  today!
If you are already a sponsor or have already registered - THANK YOU!




Housing Trust Silicon Valley
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