Helping more households build strong financial foundation
Auburn, Calif. – Placer County is expanding its Family Self Sufficiency program, enabling more low-income households to access financial coaching, case management and other support services designed to build self-sufficiency. This voluntary 5-year program, which serves families in subsidized housing, now has the capacity to support 25 families at a time – up from just a handful thanks to a newly-received grant.
“This program is about helping families achieve economic independence and reducing their reliance on government subsidies,” said Janelle Martinez, the program supervisor over Placer County’s Housing Authority. “By expanding our capacity, we’re able to provide even more residents with the tools they need to increase their earned income, save for their future, and ultimately, achieve their personal goals.”
HUD Lottery
Placer County first launched the FSS program in 2021, inspired by a similar program for Roseville residents operated by the city’s separate Housing Authority. At the time it launched, though, the county wasn’t funded through the federal Department of Housing and Urban Development, which prioritizes existing FSS programs before allocating any remaining funding to new applicants via lottery. As a result, only a handful of Placer families could be served.
Recently, though, Placer finally succeeded in HUD’s lottery and received a $130,000 grant, which will renew annually to fund a full-time coordinator position. The program is open to families receiving housing vouchers from the Placer County Housing Authority.
During their five years in the Family Self Sufficiency program, participating families work with a case manager to set and achieve goals aimed at improving their financial situation. Supports can include access to job training, childcare, transportation and other resources necessary for self-sufficiency.
Escrow savings account
A unique feature of the program is the escrow savings account. FSS encourages participants to increase their earnings through employment. As their income rises, their rent contributions also increase as voucher recipients pay 30% of their income towards rent; however, the difference between the old and new rent is deposited into a personal escrow account. This allows families to save money while transitioning to greater financial independence.
Upon graduating from the five-year program, participants can use their escrow savings to make significant financial decisions, such as buying a car, putting a down payment on a home, or paying for education. Interim disbursements of escrow funds during the five years can also be possible, if needed to reach a client’s goals.
“It’s win-win,” said Katie, a program participant for the last year who lives in Lincoln. “I’m able to have that peace of mind to know that I’m saving money and we’re going to have a home one day.”
“We’re excited about the potential this grant unlocks,” said Human Services Director Greg Geisler. “We’ve already seen families benefit from the program, and this expansion will allow us to help even more households achieve long-term stability.”
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