Rochester City Council Receives Affordable Housing Report
Rochester, MN (KROC AM News) - The Rochester City Council was briefed Monday on a staff report dealing with the community’s affordable housing issue.
The report summarized what the city has been doing the last 20-30 years to make affordable housing available. It also includes proposed recommendations for the city to do more, as the need continues to grow every year.
One calls for continued partnerships with nonprofits. Another would direct more excess Tax Increment Financing (TIF) funds to affordable housing programs.
The council held some discussion on the report and asked for more detailed information. It was decided to discuss the report in depth at a future meeting.
The report indicates the majority of the city's housing inventory is classified as affordable
Maximum 2018 Property Tax Levy
The council also decided to set the maximum 2018 property tax levy at around $68.5-million. That’s 9.75% or about $6-million higher than the 2017 levy. The council will adopt a final levy and budget in December.