Olmsted County Supports Proposed Rochester Housing Project
Rochester, MN (KROC AM News) - The Olmsted County Housing and Redevelopment Authority has approved a funding request for a proposed assisted housing program in Rochester.
The HRA was first briefed on the Jeremiah Program at its previous meeting. A staff recommendation was submitted for Tuesday’s meeting and the board approved it.
It calls for an annual payment of $70,000 to help cover the rent of 9 units over a 10-year period, beginning in 2020.
The group proposing the program told the board the commitment is needed to help leverage other funds for the project. The group’s initial request was an annual subsidy of up to $170,000 to cover 20 units.
Final terms on an HRA commitment are expected to be worked out after the program becomes operational. The group is proposing to build the project on a site north of Lourdes High School. The property was donated by local philanthropists Mary Ann and Jack Remick.
Read more about the project here.
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