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ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY <br /> • <br /> TO: HOUSING AND REDEVELOPMENT AUTHORITY <br /> FROM: WILLIAM RUBIN, ECONOMIC DEVELOPMENT COORDINATO I . <br /> DATE: AUGUST 5, 1993 <br /> SUBJECT: 1994 HRA BUDGET AND LEVY <br /> Based on a maximum levy, staff estimates that the HRA will have <br /> revenues of approximately $55,200 in 1994 . These revenues, <br /> combined with the HRA's expected fund balance at the end of <br /> 1993, will result in the availability of approximately $166,300 <br /> for projects in 1994 . <br /> The proposed 1994 HRA Budget is outlined as follows : <br /> 1994 DEVELOPMENT ACTIVITIES: <br /> Main Street, CBD Projects, Etc. $ 25,000 <br /> Evans/Main Street Parking Lot Improvement $ 12,000 <br /> Reserve for Future Projects $128,800 <br /> TRANSFER TO GENERAL FUND: $ 500 <br /> TOTAL BUDGET $166,300 <br /> ACTION REQUESTED <br /> The HRA Commissioners are asked to approve the 1994 HRA Budget <br /> in the amount of $166,300 . <br /> The HRA is also asked to adopt a resolution requesting that the <br /> City of Elk River levy a tax against the taxable market value <br /> in the City in the amount necessary to generate $55,200 to be <br /> used for economic development and redevelopment purposes by the <br /> Housing and Redevelopment Authority. A draft of this <br /> resolution is included in the HRA agenda packet. <br /> P.O. Box 490 • 13065 Orono Parkway• Elk River, MN 55330-1743 • (612) 441-7420• Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />