BAKERSFIELD, Calif. (KGET) — The Bakersfield City Council voted to establish the Bakersfield Affordable Housing Trust Fund aimed at building more affordable housing in the city.
The goal of the fund is to build more affordable housing, establish more emergency shelters and offer low interest loans to low-income homebuyers.
The council voted on a resolution Wednesday to put $5 million in Measure N funds into the fund. Measure N was passed by voters in 2018.
The council also authorized for the city to apply to the state for matching funds.
Councilmembers voted 6-0 to pass the resolution. Vice Mayor Ken Weir was absent.