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Ventura County Community Development Corporation awarded $1 million from Citi Foundation


VENTURA COUNTY, Calif. – The Ventura County Community Development Corporation (VCCDC) announced the organization receiving $1 million from Citi Foundation.

Below is a press release from the VCCDC on the generous donation:

(OXNARD, CA) The Ventura County Community Development Corporation (VCCDC) has been awarded a $1,000,000 grant from Citi Foundation’s Community Progress Makers Initiative, a national vision to empower local community organizations to transform impact through unrestricted, trust-based funding. VCCDC is one of 50 local community organizations chosen from an array of applicants in Citi’s strategic markets who connect low- and moderate-income communities to greater social and economic opportunity. 

The donation represents Citi Foundation’s $50 Million pledge to fund a fourth cohort of Community Progress Makers; first established in 2015, this year’s program commitment covers the next three years. “Citi Foundation’s Community Progress Makers Grant is at the forefront of expanding VCCDC’s successful programs and services,” said Bertha Garcia, VCCDC Executive Director. 

“Creating wealth through homeownership changes lives by providing financial empowerment of families and individuals. This is no easy task especially in communities like Ventura County, yet with the support of partners like Citi it can be accomplished,” she added. “Representing the largest grant ever received by our organization, this funding model provides freedom, flexibility, and financing that allows us to pivot when necessary to implement and enhance programs as well as increase services at a greater scale. We are extremely excited to be a partner with Citi Foundation in the role of helping families achieve success that in turn enhances our regional economic vitality,” she said. 

“VCCDC’s mission of serving low-to-moderate income families is made that much more impactful by Citi Foundation’s commitment, and in doing so, helps us leverage additional resources to benefit our clients,” added Joseph Gutierrez, VCCDC Board President. 

“We are proud of our long-standing relationship with Citi and their commitment to serving the underserved.” As a recipient of the Citi Foundation Community Progress Makers fourth cohort, VCCDC will be able to gain access to technical assistance from national experts and leading researchers, in addition to having opportunities to connect and share learnings through engagement with other awardee groups through virtual and national gatherings. 

VCCDC is one of nine nonprofit organizations based in Southern California selected as part of the fourth cohort group, and all the organizations are focused on work in the areas of affordable housing and access, economic development, financial health, and workforce readiness. With the latest cohort, Citi Foundation has now committed $115 million in grants to Community Progress Makers since its inception. 

“Exposure to winning practices and national experts will help VCCDC improve service delivery, learn about successful models, and give necessary support to achieving our short and long-term strategic goals. We look forward to embarking on this trajectory to undergird families and individuals with financial literacy and education as a framework for self-sufficiency, which will launch many more into becoming new homeowners in our region,” Garcia added. 

ABOUT VCCDC: The Ventura County Community Development Corporation (VCCDC) is a non-profit 501(c)(3) that has worked to fulfill its mission of empowering families through education and homeownership. Since its inception in 2001, VCCDC has originated over $209M in mortgage loans; provided more than $12.5M in down payment assistance; provided education and one-on one coaching to over 23,000 families and individuals; and invested more than $32M in community revitalization through its Acquisition and Rehab program. These and other achievements have contributed to improved economic conditions throughout the communities VCCDC serves. 

VCCDC is a certified Community Development Financial Institution (CDFI) and a housing counseling agency approved by the U.S. Department of Housing and Urban Development (HUD). VCCDC is comprised of certified and licensed professionals with deep, personal desires to make the world a better place to live. From educational services, including workshops and one-on-one coaching, to lending and realty support, including down payment assistance, VCCDC ensures clients are supported from start to finish of the homebuying process. VCCDC serves clients in Ventura, Santa Barbara, Kern, and Los Angeles Counties. For more information on the Citi Foundation Community Progress Makers Initiative and today’s announcement, please use these links: Citi Community Progress Makers National Announcement Citi Community Progress Makers Initiative

Article Topic Follows: Ventura County
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