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Rochester, MN (KROC-AM News) - The Olmsted County Board today voted to approve plans for spending just under $20 million in funding from the American Rescue Plan Act.
Just over $16 million will be directed to affordable housing-related programs throughout Olmsted County that include a $10 million appropriation to the Rochester Area Foundation for a five-year investment in affordable housing. Another $5 million is being allocated to an Olmsted County program to create affordable homeownership opportunities.
Funding from the federal initiative will also provide about $1 million for the purchase of a building at 105 N. Broadway in downtown Rochester for transitional housing for homeless individuals.
Commissioners improve plan for first $20 million, with $16.1 million earmarked to build homes, help homeless. Written By: Randy Petersen | ×
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Olmsted County plans to invest more than half the $30.7 million it’s receiving through the federal American Rescue Plan in housing.
“I think this is a generational investment you are making in affordable housing,” County Administrator Heidi Welsch told commissioners as they unanimously approved a plan for nearly $20 million of the federal funds.
The plan calls for using $10 million as a five-year investment in creating and preserving affordable housing in the county by working with Rochester Area Foundation to leverage additional funding.
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Olmsted County approves use of $20 million in federal American Rescue Plan Act funds kaaltv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kaaltv.com Daily Mail and Mail on Sunday newspapers.