ADMINISTRATIVE REPORT
MEETING DATE: July 21, 2025 AGENDA CATEGORY: Staff Report TO: Finance, Economic Development and Jobs Committee
FROM: Jennifer M. Byers, Economic & Community Development Director DATE: July 14, 2025
SUBJECT: Affordable Housing Trust Fund – Notice of Funding Availability Award Recommendations
[Document Description]
RECOMMENDATION:
Staff recommends Committee receive and file AHTF funding recommendations.
BACKGROUND:
On July 14, 2021, the Bakersfield City Council adopted Resolution NO. 124 -2021 to establish the Bakersfield Affordable Housing Trust Fund. The intent of the AHTF was to use local funds to leverage and draw in additional outside resources to increase the pool of financing to support the construction of affordable housing.
On April 18, 2025, the City of Bakersfield released its Notice of Funding Availability (NOFA) to solicit proposals from qualified app licants to construct quality, affordable housing. The NOFA included the following sources of funding:
Affordable Housing Program Allocation
Public Safety and Vital Service $4,056,591
FY 2021/22 Affordable Housing Trust Fund Local Housing Trust Fund Match $1,653,295 FY 2022/23 Affordable Housing Trust Fund Local Housing Trust Fund Match $2,780,467 Total $8,490,353
NOFA RESULTS:
Cumulatively, the NOFA was open for 34 days. Eleven applications were submitted by six applicants requesting $18,123,510 to build/rehabilitate approximately 482 housing units. Consistent with the NOFA, applications were reviewed and scored by three internal staff members using the following criteria:
- The experience and financial capability of the development team; - The relat ionship of the proposed development to the surrounding community, its quality, configuration, appearance, and service of community needs; - Market conditions, project feasibility, and level of current funding commitment to begin the Project;
- Project readiness;
- Consistency with the goals and objectives of the Affordable Housing Trust Fund; - Application completeness as it relates to the requirements of this NOFA.
Staff have prepared the attached application summary and recommendations for funding. After today’s
meeting, staff will be contacting the proposed applicants to discuss the next steps. Each project receiving a reserved allocation of funding will be subject to further underwriting and funding approval by the Bakersfield City Council prior to officially executing a funding agreement.
FISCAL IMPACT:
PSVS funding budgeted in FY2023-24 and FY2024-25. Other funds allocated from State Local Housing Trust Fund Grant.
COUNCIL GOAL:
Safety and Resilience
ATTACHMENT:
2025-2026 Bakersfield Affordable Housing Trust Fund Funding Memo and Recommendations.