The City Council in Anaheim has voted to establish a housing trust fund to finance affordable housing developments, backed by a $30M donation from Walt Disney Co.
The trust fund, which also will be bankrolled by grants from state and federal agencies, will help finance affordable housing projects, fund down payment assistance programs for would-be home buyers and may provide eviction prevention help to tenants, the Orange County Register reported.
Disney's $30M donation is part of a long-term deal approving the theme park giant's DisneylandForward plan, a $1.9B expansion and upgrade of its resort in Anaheim. Disney will provide half of the donation this year and the balance in five years.
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