Health Net Commits $2M to Fund 50 Affordable Housing Projects in Stanislaus County
Sacramento – September 15, 2026 -- Health Net, a Medi-Cal managed care plan and Centene Corporation (NYSE: CNC) subsidiary, has invested $2 million in Stanislaus Equity Partners (STEP) to provide gap financing for 50 shovel-ready affordable housing developments in Stanislaus County.
Multi-year grant targets funding shortfalls blocking ready-to-build projects
The multi-year grant will be deployed by STEP through a mix of grants, forgivable loans and low-interest loans, structured to unlock additional public and private capital for developments that are otherwise stalled by financing gaps. STEP said the flexible tools are intended to accelerate delivery of affordable units and reduce displacement risk for residents across the county.