Rochester Affordable Housing Initiative Receives More Funding
Rochester, MN (KROC AM News) - A coalition that was formed last year to address affordable housing needs in the Rochester area has received another financial boost.
The Olmsted County Board Tuesday approved a $250,000 contribution over a two-year period. The Rochester City Council approved an identical contribution earlier.
The formation of the Coalition for Rochester Area Housing was announced last year. Its founding partners are Rochester, Olmsted County, and Mayo Clinic.
The coalition’s mission is to lead a collaborative community program to acquire, manage and distributing funding and resources to preserve existing and build additional affordable and workforce priced housing.
The Rochester Area Foundation is overseeing a fundraising campaign with a goal of $6 million to fund the housing initiative. Mayo Clinic kickstarted the campaign with a $4 million donation.
Foundation President Jennifer Woodford says private donations are also being sought. Woodford expects the coalition’s first project will be announced within a few weeks.
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