Wells Fargo Backs Affordable Housing

The Cabrillo Economic Development Corp. has received a $50,000 grant from Wells Fargo Bank.

The Saticoy-based organization, a nonprofit provider of affordable dwellings, has already developed about 750 units of low- and moderate-income housing in nine Ventura County communities and has more than 300 additional units under construction or being planned.

Cabrillo also offers home ownership counseling services, said Executive Director Rodney Fernandez.

Presentation of the bank’s grant was made to Cabrillo officials last week during a tour of Casa Garcia, a 14-unit apartment complex being erected in Santa Paula.

Wells Fargo has also provided construction financing for the $2-million apartment complex, Fernandez said.