Portland Mayor Ethan Strimling at a Portland Community Chamber of Commerce forum in Portland Wednesday morning.

The mayor of Maine’s largest city says he plans to ask voters to approve borrowing $7 million to aid Portland’s affordable housing crisis.

The Portland Press Herald reports Mayor Ethan Strimling says he wants to invest the money into a housing trust fund, which subsidizes affordable housing built by private developers.

He says the city can use the bond to create 600 to nearly 850 affordable housing units.

[Portland mayor wants to require developers to include more low-income housing]

City finance department records show annual payments on the bond would start at about $650,000 if it’s borrowed all at once.

Strimling says he believes the people of Portland will pass the bond “in a heartbeat.”

Strimling planned to present the proposal to City Council’s Finance Committee Thursday. The committee will hold a public hearing on it at a later date.

Follow BDN Portland on Facebook for the latest news from Greater Portland.