NEW BEDFORD, Mass. (WPRI) — New Bedford Mayor Jon Mitchell said the city is planning on investing more than $3 million in affordable housing.

Mitchell said the goal is to reduce homelessness and increase housing stability.

The funds will allow the city to put its HOME-American Rescue Plan Program into action, which Mitchell said includes $900,000 for the development of affordable rental housing, $700,000 for development of shelter beds for the unhoused, $500,000 for rental assistance programs and nearly $600,000 for non-profits to provide supportive services and community housing development initiatives.

“New Bedford residents have not been spared from state and national trends of escalating housing costs,” Mitchell said. “These funds will be a critical part of an overall strategy to ease the burden of rising housing costs for our residents.”

The New Bedford City Council will consider the plan Thursday night.