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plan. Should the HRA approve the business kiosk in the proposed budget,we will bring the item back <br /> for further discussion at a later date. <br /> Transfers Out <br /> There are no longer expenditures in the Utilities and Building Repair and Maintenance line items since the <br /> HRA buildings were demolished. However,the HRA and Council approved a Memorandum of <br /> Understanding turning over management and maintenance of Main Street Parking Plaza to the city. The <br /> proposed budget outlines an annual transfer out in the amount of$3,175,rounded to $3,200 to cover <br /> these costs. The transfers to the General Fund will increase from$15,000 to $18,200. <br /> Common administrative expenses are proposed to be shared by the EDA and HRA as in previous years. <br /> An HRA transfer of$3,500 to the EDA covers approximately 40%of the shared expenses,which include <br /> office supplies, fuels, telephone and travel/training. <br /> HRA Development Fund <br /> In 2008, the HRA adopted a Fund Balance Policy to designate a percentage of its year-end fund balance <br /> to HRA Redevelopment Projects. This amount may be used for future redevelopment activities such as <br /> property acquisition, demolition/remediation, and housing programs. The acquisition of 716 and 720 <br /> Main Street and construction of the Main Street Parking Plaza was paid for by this fund. <br /> This fund gives the HRA opportunity to reinvest in the community through various redevelopment <br /> projects: property acquisition,rehabilitation,beautification, etc. Additionally,looking forward this fund <br /> can be utilized for potential housing grants/loans and Downtown Revitalization Plan recommendations. <br /> The current balance as of December 31, 2011,is $678,293. <br /> Attachments <br /> • Proposed 2013 Budget Worksheet <br /> • Proposed 2013 HRA Revenue&Expenditures <br /> • Resolution Establishing the HRA Levy for Collection in Year 2013 <br /> • 2013 EDA&HRA Goals and Performance Measures (internal document used during the budgeting <br /> process) <br /> • 2013 HRA Marketing Budget memo <br /> Action Motion by Second by Vote <br /> Follow Up <br /> 2013 HRA Budget Action Requested <br />