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<br /> <br />Request for Action <br /> <br /> <br />To Item Number <br /> <br />Housing and Redevelopment Authority 7.2 <br />Agenda Section Meeting Date Prepared by <br /> <br />General BusinessFebruary 2, 2015Jeremy Barnhart, Deputy Director, CODD <br />Item Description Reviewed by <br />Reading of Financial Condition <br />Reviewed by <br /> <br /> <br />Action Requested <br /> <br />N/A <br /> <br />Background/Discussion <br /> <br />The HRA Bylaws suggest that the Chair of the Housing and Redevelopment Authority read the financial <br />condition. The HRA approved the 2015 Budget & Resolution Establishing the HRA Tax Levy for <br />Collection in year 2014 at its regular meeting August 4, 2014. The HRA’s tax levy is .0144% of taxable <br />market value. <br /> <br />The City Council approved the HRA Budget & Levy September 2, 2014. <br /> <br />The HRA’s financial health is strong. Each year, money not used in the annual budget is transferred to <br />unallocated cash reserve. The unaudited balance of this account on December 31, 2014 was <br />$1,176,709.00. This money may be used to purchase buildings, land, redevelopment, creation of housing <br />financing programs and a variety of other uses. <br /> <br />The HRA has expressed an interest in being more aggressive in returning these funds to the community <br />in the form of redevelopment and assistance programs. Specific goals will be articulated in the strategic <br />plan. <br /> <br />Financial Impact <br /> <br />N/A <br /> <br />Attachments <br /> <br /> <br /> <br />N/A <br /> <br /> <br />