08-29-1988 HR MIN - Laserfiche WebLink

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Page 2 Housing and Redevelopment Authority Minutes August 29, 1988 • The City Administrator requested that instead of the $10,000.00 going to the City General Fund for an Economic Development Marketing Plan, that the HRA make a slight adjustment from the 3/14/88 action and transfer those monies directly to the EDA. COMMISSIONER KROPUENSKE MOVED TO TRANSFER $10,000.00 OF HRA MONIES TO THE EDA FOR THE IMPLEMENTATION OF AN ECONOMIC DEVELOPMENT MARKETING PLAN. COMMISSIONER HINKLE SECONDED THE MOTION. THE MOTION CARRIED 4-0. The Finance Director reminded the HRA that these funds in their entirety are not available, but once they did become available later in 1988 that she would make the above transaction. Commissioner Toth left at this time (6:15 p.m.) 6. Consideration of 1989 HRA Budget Finance Director indicated that past practice of the HRA is to request the City Council to levy 1/3 of a mill for the purpose of Housing and Redevelopment activities. In 1989, this 1/3 mill, plus interest, will generate approximately $18,100.00. The 1988 HRA year end fund balance is • anticipated to be very close to zero, so therefore, the proposed 1989 HRA Budget calls for expenditures in the amount of $18,100.00. The proposed budget for the HRA in 1989 lists $16,000 for redevelopment activities and $2,100 for placement into reserves for future projects. COMMISSIONER KROPUENSKE MOVED TO ADOPT RESOLUTION 88-1, A RESOLUTION APPROVING THE CITY OF ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY BUDGET FOR 1989. COMMISSIONER HINKLE SECONDED THE MOTION. THE MOTION CARRIED 3- 0. 7. Consideration of 1989 Tax Levy for HRA Purposes The Finance Director indicated that in order for funds to be generated for HRA purposes, the City Council must levy 1/3 mill for housing and redevelopment activities. In order for this to happen, the HRA must adopt a resolution which requests the City Council to levy these funds. COMMISSIONER HINKLE MOVED TO ADOPT RESOLUTION 88-2, A RESOLUTION ESTABLISHING THE TAX LEVY FOR THE ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY FOR COLLECTION IN 1989. COMMISSIONER KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 3-0. 8. Other Business Chair Gunkel updated the HRA on economic development activities that are happening with the EDA. Ms. Gunkel discussed the presentation before the • EDA by Economic Development Consultant, Mike Mulrooney, the status of the Alltool new construction project, the future economic development survey,