Olmsted County Approves 2 Affordable Housing Projects
Rochester, MN (KROC-AM News) - Olmsted County is moving forward on two affordable housing projects.
The County Housing and Redevelopment Authority Board met yesterday and voted to approve both initiatives. The largest involves the purchase of the Residence of the Old Town Hall building in the 600 block of East Center Street just east of Mayo Field.
Olmstead County has agreed to pay $5 million for the property, which will be used to provide about 60 transitional housing apartment units. A news release says the Coalition for Rochester Area Housing has authorized a $ 1 million deferred forgivable loan for the project, which will also be supported through the County property tax levy dedicated to support HRA programs.
“We are thrilled to embark on this significant endeavor to expand affordable housing opportunities for our community’s most vulnerable members,” said Olmsted County Housing and Planning Director Dave Dunn. “We have earned the support of residents who live near the building and look forward to partnering with them through this transition period.”
County officials say it is anticipated that new residents could begin moving into the building in the summer.
The HRA Board also voted to authorize spending $680,000 to purchase 10 residential lots in southeast Rochester. The plan is to use the properties on Red Hawk Drive to build affordable single-family homes. The project will be partially paid for by the nearly $5 million remaining federal COVID-19 relief funds the Olmsted County Board previously decided to direct to an affordable housing initiative.
The Growing Affordable, Inclusive Neighborhoods program will enable qualifying applicants to receive $10,000 in down payment assistance for the purchase or construction of a new home built for at a maximum cost of $300,000.
The plan also involves the involvement of the First Homes initiative. The news release says the lots will be placed into a community land trust operated by First Homes, which should allow the homes built on the properties to remain affordable for future owners.
The County is hoping construction at the site will begin this spring.
Cities with the Worst Drivers
Gallery Credit: Kelso
