Schneiders & Associates, L.L.P. is pleased to announce that The Ventura County Community Development Corporation (VCCDC) has elected Ted J. Schneider, Esq. to serve on its board of directors. VCCDC was created to address the growing affordability gap facing very-low, low, and moderate-income families living in Ventura County looking to purchase a home. VCCDC’s mission is “to strengthen and sustain vibrant communities by empowering and enabling low-to-moderate income individuals, families and businesses to build wealth through homeownership and entrepreneurship.”
To address this need, VCCDC lends amortized and deferred subordinate loans to families through capital raised from financial institutions, intermediaries, foundations, municipalities, and state and federal government agencies. For very-low and low-income families, deferred funding is often necessary to increase purchasing power enough to afford the cost of a home in Ventura and surrounding counties.
In addition to lending its own capital, VCCDC works closely with cities, public housing agencies, and other entities with first-time homebuyer assistance programs to ensure that the process of accessing these layered financing sources runs as smoothly as possible. Through strong communication, access to funds, and smooth transition processes, VCCDC presents a creative approach to helping families purchase in today’s market.