Rochester Area Foundation hopes to raise $19M for affordable housing

Rochester Area Foundation plans to play a critical role in a community-wide effort to address affordable housing according to the Post-Bulletin.

The foundation is preparing to embark on a $19 million fundraising campaign that will provide partner funds to the Olmsted County Housing and Redevelopment Authority.

The county HRA will in 2016 levy a property tax to fund affordable housing efforts. That levy could raise as much as $2.5 million, but a recent HRA business plan based its figures on a $1 million levyRochester Area Foundation, Olmsted County and Mayo Clinic partnered to commission a housing study. Maxfield Research delivered the results of the study in February 2014 and it showed significant gaps in the county’s availability and affordability of housing.

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