Rochester Mayor Thomas Richards says the city is expanding its affordable housing plan.
Richards says the continued progress of the city's Housing Revolving Loan Fund allows housing developments that would have been on hold, possibly for years, to move forward.
The Richards administration created the Housing Fund in 2011 by using loan repayments from past financing of housing projects. That money is then reinvested to spur new housing developments.
The City’s housing policy is to create or rehabilitate existing buildings and structures into affordable, mixed-income and market-rate housing.