Wells Fargo Foundation has awarded a $5,000 grant to the San Luis Obispo County Housing Trust Fund (HTF) on behalf of Wells Fargo Home Mortgage. 

The award is for the HTF’s George Moylan Affordable Housing Fund and will be used exclusively to help finance the development of housing for low and moderate income home buyers in San Luis Obispo County.

“We are excited about Wells Fargo’s support for the Moylan Fund,” adds HTF Executive Director Jerry Rioux.  “The bank’s generous award will be combined with donations and investments from throughout our community to help finance affordable housing in San Luis Obispo County."

The HTF is a nonprofit corporation that was formed in 2003 to increase the supply of affordable housing throughout the county. Rather than develop, own or manage affordable housing, the HTF provides financing and technical assistance to help private developers, nonprofit agencies and local governments create, preserve and improve homes that working families, seniors on fixed incomes and persons with disabilities can afford to rent or buy.

The Moylan Fund was created in 2005 to honor the memory and continue the work of George Moylan, one of the HTF's founding directors. The Moylan Fund is a revolving loan fund that directly helps to finance affordable housing projects. More than 300 individuals, organizations and companies have contributed approximately $85,000 to the Moylan Fund to date.  

The HTF has provided nearly $7 million in short term financing to assist 218 affordable rental and for-sale homes in San Luis Obispo County to date.  During 2010, nearly 30% of all the housing starts in the entire county were in projects that were assisted by the HTF.  More than $1.5 million is currently available to finance additional affordable housing.  Additional information on the HTF is available online at www.slochtf.org.

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets.

Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial financing through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. 

With approximately 280,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all there customers’ financial needs and help them succeed financially. 

More information can be found at www.wellsfargo.com.