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On August 27th 2013, the Santa Clara County Board of Supervisors voted to allocate $75,000 for the con- struction of two Pay for Success projects. The County expressed a specific desire to address the challenges of acute psychiatric illness and chronic homelessness. The Sobrato Family Foundation and Silicon Valley Community Foundation matched the County’s finan- cial support to underwrite this phase of work. As of October, Third Sector continued to work closely with County leadership to complete a project specification process that would identify the exact target popula- tion for each Pay for Success initiative and a preferred outcome measure. Once this process is complete, Third Sector will support the County to select service providers, develop an evaluation design, draft a Pay for Success contract, and assist in structuring Social Innovation Financing arrangements. |