Santa Clara County, California Launches ‘Pay for Success’ Project Focused on Homelessness

On August 13, 2015, Santa Clara County announced the launch of “Project Welcome Home,” a pay-for-success project to reduce chronic homelessness through the provision of housing and an array of supportive services. During the six-year project, the direct services will be provided by Abode Services, through funding provided by investors. If the project outcomes meet the target, then the city will repay the investors, plus interest. The rate of return will vary with the amount by which the outcomes exceed the targets.

During the project, Abode Services will serve 150 to 200 people who are chronically homeless . . .