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USDA awards $3 million loan for affordable farm housing in Bakersfield

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Posted at 11:30 AM, Jul 13, 2016
and last updated 2016-07-13 16:13:22-04

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.