Laserfiche WebLink
HRA MINUTES Page 5 <br /> August 11, 1994 <br /> • 10. Consider the 1995 HRA Budget and Levy <br /> Chair Schuldt requested that the HRA first consider the levy resolution. <br /> COMMISSIONER HINKLE MOVED TO APPROVE HRA RESOLUTION 94-1. <br /> COMMISSIONER TOTH SECONDED THE MOTION. THE MOTION CARRIED 3-0. <br /> At this time, Bill Rubin outlined the proposed 1995 HRA budget. Based on a <br /> maximum levy, it is estimated that the HRA will have revenues of approximately <br /> $58,000 in 1995. These revenues combined with the HRA's expected fund <br /> balance at the end of 1994, will result in the availability of approximately <br /> $134,500 for projects in 1995. <br /> The proposed 1995 HRA budget was outlined as follows: <br /> 1995 Development Activities <br /> Evans/Main Street Parking Lot $12,000 <br /> Landscape and Parking Lot Improvements <br /> (City lot bounded by U.S. Highway 10, Jackson <br /> Avenue and King Avenue) 30,000 <br /> Riverfront Trail (fund study and initial improvements) 17,000 <br /> Reserve for future projects 75,000 <br /> Transfer to General Fund 500 <br /> TOTAL BUDGET $134,500 <br /> Following a discussion on this matter, COMMISSIONER TOTH MOVED TO APPROVE <br /> THE 1995 HRA BUDGET IN THE AMOUNT OF $134,500. COMMISSIONER HINKLE <br /> SECONDED THE MOTION. THE MOTION CARRIED 2-1, WITH COMMISSIONER <br /> SCHULDT VOTING NAY. He stated he is voting nay because the 1995 budget is <br /> uncertain. <br /> 11. Other Business <br /> There was no additional business. <br /> 12. Adjournment <br /> There being no further business, COMMISSIONER HINKLE MOVED TO ADJOURN THE <br /> MEETING. COMMISSIONER TOTH SECONDED THE MOTION. THE MOTION CARRIED <br /> 3-0. <br /> The meeting of the Elk River Housing and Redevelopment Authority was <br /> adjourned at 9:04 p.m. <br /> Respectfully submitted, <br /> • <br /> William Rubin, <br />