6. HRSR 08-01-2011 - Laserfiche WebLink

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Expenditures The budget was developed with the following 2011 HRA Goals in mind: ^ Resume planning process for the comprehensive Downtown Redevelopment Plan, including public communication efforts (following authorization to proceed from City Council) o This goal was included in the 2011 Vision and Goals approved by the City Council in May ^ Provide information to residents on housing rehabilitation/energy efficiency financing resources ^ Continue foreclosure recovery initiatives ^ Monitor the City's housing market, inventory and condition to identify needs (housing study) ^ 716 & 720 Main Street management (identified as goal at the January 3, 2011 HRA meeting) In 2004 the Personal Services costs were adjusted from 70/30 percent EDA and HRA respectively, to 60/40 percent due to staff time allotted to the Downtown Revitalization Project and Redevelopment Planning. It is proposed that this continue in 2012 due to the anticipated Downtown Redevelopment Plan. The other significant change to the 2011 budget is an increase in Professional Services. This would include consulting services to facilitate and complete the Downtown Redevelopment Plan ($60,000) and to complete an updated Housing Market Study ($15,000). Since public communications is a critical component of redevelopment planning, an amount of $16,000 is proposed for the development and distribution of consistent and timely communication materials during the planning process. Other common administrative expenses are proposed to be shared by the EDA and HRA. As in previous years the HRA makes a one time transfer to the EDA in the amount of $3500 to cover approximately 40% of the shared expenses, which include office supplies, fuels, telephone and travel/training. In 2008 the HRA adopted a Fund Balance Policy to designate a percentage of its fund balance at the end of each year toward HRA Redevelopment Projects. This amount may be used for future redevelopment activities such as property acquisition, demolition/remediation, and related improvement costs for converting the HRA buildings into a parking lot. The current balance as of December 31, 2010 is $613,576. Attachments ^ Budget Worksheet -Proposed 2012 HRA Revenue & Expenditures ^ Resolution Establishing the HRA Levy for Collection in Year 2012 Action Motion by Second by Vote Follow Up 2012 HRA Budget Action Requested