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Consider HRA Year 2005 Budget <br /> August 2,2004 <br /> Page 2 of 2 <br /> IIIFollowing is a line item analysis of the proposed year 2005 expenditures for the HRA: <br /> • Personal Services $ 56,050 <br /> • Legal Fees (TIF,relocation, etc.) $ 12,000 <br /> • Other Professional Services $ 60,000 <br /> o Ehlers &Assoc. -Redevelopment Project Management <br /> o HRGreen—Engineering Services <br /> o Relocation Consultation Services <br /> • Postage (public meeting notices, Q&A inserts) $ 1,000 <br /> • Publishing (Downtown Project Communications) $ 8,200 <br /> • Insurance $ 250 <br /> • Dues &Subscriptions $ 200 <br /> o MN National Assoc. of Housing&Redevelopment Officials <br /> • Transfer out to General Fund (support staff, etc) $ 9,500 <br /> • Transfer out to EDA (approx. 30% shared expenses) $ 3,500 <br /> Total HRA Year 2005 Proposed Expenditures: $150,700 <br /> Total HRA Year 2005 Proposed Revenue: $231,850 <br /> The projected balance of$81,150 will be put into the HRA reserves for any future project <br /> expenses. <br /> 0 Attached to this memo you will find a Resolution establishing the tax levy for the Elk River <br /> HRA and requests that the City Council levy such maximum amount for the authority for <br /> the year 2005,as in previous years. The City must certify its proposed maximum levy, <br /> including EDA and HRA levies, to Sherburne County annually in September. <br /> Recommendation <br /> Staff recommends that the HRA approve the year 2005 HRA Budget as presented, and <br /> approve of the attached Resolution establishing the HRA tax levy for collection in year 2005. <br /> • <br />