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Elk Request for Action <br /> River <br /> To ' Item Number <br /> Housing and Redevelopment Authority 7.2 <br /> Agenda Section Meeting Date Prepared by <br /> General Business February 3,2014 Brian Beeman,Director of Economic <br /> Development <br /> Item Description Reviewed by <br /> Reading of Financial Condition Jeremy Barnhart,Deputy Director, CODD <br /> Reviewed by <br /> Action Requested <br /> N/A <br /> Background/Discussion <br /> The HRA Bylaws require that the Chair of the Housing and Redevelopment Authority read the financial <br /> condition. The HRA approved the 2014 Budget&Resolution Establishing the HRA Tax Levy for <br /> Collection in year 2014 at its regular meeting September 3, 2013. The City Council approved the HRA <br /> Budget&Levy September 3, 2013. The HRA Strategic Plan and Budget Performance Measures were <br /> discussed and reviewed at that time. The HRA's financial health is strong. Each year,money not used in <br /> the annual budget is transferred to the cash reserve. Currently, the HRA has $924,313.64 in this fund. <br /> This money can be used to purchase buildings,land,redevelopment, creation of housing financing <br /> programs and a variety of other uses. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> • N/A <br /> t / 11 E 1 E 1 1Y <br /> NATURE <br />