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Year 2002 HRA Budget <br /> August 27,2001 <br /> Page 2 <br /> iFollowing is a line item analysis of the proposed year 2002 expenditures for the HRA: <br /> Personal Services $26,650 <br /> Legal Fees $ 1,750 <br /> Other Professional Services $24,000 <br /> * Historical Context Study- $12,000 <br /> * Downtown Design Plan - $12,000 <br /> Insurance $ 200 <br /> Transfer-- General Fund $ 1,500 <br /> Transfer—Capital Outlay (sidewalk project) $50,000 <br /> Transfer-- EDA (25% shared expenses) $ 3,500 <br /> Total HRA Year 2002 proposed expenditures: $107,600 <br /> Total HRA Year 2002 proposed revenues: $113,100 <br /> The excess $5,500 in revenues will go into the HRA reserve. The plan for the reserves is to <br /> build up funds for future projects. The more reserves that can be built up, the less debt that <br /> would have to be incurred for a future project. <br /> Staff proposes to bring a specific proposal to the HRA for hiring a design consultant for the <br /> Central Business District. The physical design plan has been discussed as phase II upon <br /> completing the visioning/action Master Redevelopment Plan to be completed in 2001. <br /> IPRecommendation <br /> Staff recommends the HRA approve the Year 2002 HRA Budget,with the understanding <br /> that the line item for hiring a CBD designer will be brought back for specific authorization, <br /> and approval of Resolution 01- with a request that the City Council levy a tax in the <br /> amount of.0131 percent of the taxable market value of the City in 2002. <br /> • <br />