Santa Clara County Launches State’s First “Pay for Success” Project

“Pay for Success” refers to a funding model where the governments only pay contractors or service providers when they reach clearly defined and measurable goals or milestones.

The project that Santa Clara County is funding this way is called Project Welcome Home. It will provide supportive housing and other services in effort to make headway in ending homelessness in the area.

The county selected Adobe Services as the lead service provider for the endeavor using a “housing first” approach while also providing supportive services and helping tenants stabilize their income.

Adobe has committed $500,000 in deferred service fees as additional investment into Project Welcome Home. The project has also received a healthy chunk of change from other private and philanthropic funders currently to the tune of about $6.9 million.

Santa Clara County has another Pay for Success project in the works to accompany Project Welcome Home. The second project will focus on improving health outcomes for the County’s acutely mentally ill.

Further reading on Project Welcome Home can be found here.


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Finance

Monday, July 27, 2020 - 15:51

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