City Council allocates $6.5 million to Self-Help Enterprises to manage and convert properties into homes for ownership. Bakersfield Community Land Trust aims to provide affordable housing for residents. City Council has allocated $6.5 million to Self-Help Enterprises to manage and operate. Only 32% of medium-income families in Bakersfield can afford a home, highlighting the need for affordable housing. The focus on converting 9 properties into homes for ownership to help build equity and generational wealth. The committee aims for families to own these homes within the next three years, with the next meeting set for January 2025.For your convenience, the skimmable summary above is generated with the assistance of AI and fact checked by our team prior to publication. Read the full story as originally reported below.Broadcast transcript:The city's land trust committee is aimed to house residents of Bakersfield. The committee told us ways they are going to make homes accessible to the community. The Bakersfield Community Land Trust is a non-profit cooperation that the city council created to build additional housing, more specifically homes for ownership.Andrae Gonzales, Chair of the Community Land Trust and he says, "We recognize there is a need to build more affordable housing within Bakersfield but even more, so we want to give opportunities to those individuals who have been renters forever, those perpetual renters, giving them access to an opportunity to own their own home."Ward Two City Councilmen, Andrae Gonzales says, the goal is for homeowners to build equity and generational wealth for their families. Gary Crabtree is the owner of Affiliated Appraisers here in Bakersfield. He says just 16 percent of Californians can afford to buy a home. In spite of this, the Central Valley has the most affordable housing in the state. In Bakersfield, just 32 percent of medium-income families can afford a home.Gary Crabtree, is the Owner of Affiliated Appraisers and he says, "The coming generation, Gen Z, has seen the American dream fade away and part of that American dream is home ownership."Andrea Gonzales agrees that owning a home is a part of the American dream but it's becoming harder for individuals to reach these dreams. He says the city has allocated 6 million dollars for the land trust. Self-Help Enterprises will administer that fund and will work on turning 9 properties into homes."We will also work with additional properties that we have purchased through the property tax default process so we can also turn those units into permanent housing." Gonzales said.The committee says that the goal within the next three years is for families to be able to own these 9 homes. Their next meeting is set for January of 2025. Stay in Touch with Us Anytime, Anywhere: Download Our Free App for Apple and Android Sign Up for Our Daily E-mail Newsletter Like Us on Facebook Follow Us on Instagram Subscribe to Us on YouTube