The U.S. Department of Agriculture has awarded the Community Revitalization and Development Corporation a $3 million loan. The funds will be used to develop 58 affordable apartments in Bakersfield through the non-profit corporation.
The USDA awarded a total of $26 million to nine affordable rental communities in four states: California, Florida, Kansas, and Texas. The funding will support 439 rental units.
Five other California communities also received loans:
- Mutual Housing of California in Woodland, Calif. - $3 million loan
- Corporation for Better Housing LP in Sukiah, Calif. - $3 million loan
- Corporation for Better Housing in McFarland, Calif. - $3 million loan
- Corporation for Better Housing in Greenfield, Calif. - $3 million loan
- Pacific Southwest Community Development Corporation in Calexico, Calif. - $3 million loan
Funding is provided through the Farm Labor Housing and Grant program and will be contingent upon the recipient meeting the terms of the loan agreement.
