11-12-1992 HR MIN - Laserfiche WebLink

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MEETING OF THE ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL THURSDAY, NOVEMBER 12, 1992 • Members Present: Chairman Hinkle, Commissioners Kropuenske, Schuldt, Duitsman, and Toth (5:05 p.m. ) Members Absent: None Staff Present: Pat Klaers, Executive Director; Bill Rubin, Economic Development Coordinator 1. Call Meeting To Order Pursuant to due call and notice thereof, the meeting of the Elk River Housing and Redevelopment Authority was called to order by Chairman Hinkle at 5:00 p.m. 2. Consider 11/12/92 HRA Agenda Item 5.1. , FHA/Deerfield 3rd and 4th Additions, was added to the agenda. 3. Open Mike No one appeared for this item. • 4. Finalize 1993 HRA Budget and Levy Bill Rubin stated that the Sherburne County Auditor's Office estimates that the Elk River HRA will receive revenues of approximately $52,600 in 1993. This is based on a maximum levy of .0131% of the taxable market value of property in the City. This is substantially more than the HRA collected in 1992. Commissioner Toth arrived at this time. If the HRA Commissioners choose to collect the additional funds based on the maximum levy of .0131%, the 1993 budget should be amended to reflect the additional revenues. In August, the HRA adopted a 1993 budget in the amount of $121,500. This budget, however, reflected 1993 revenues estimated at $31,500 from a levy. Based on the estimate from the Auditor's Office of revenues in the amount of $52,600, the budget should be amended to reflect the additional $21,100 in revenues for a total budget in the amount of $142,600. Another option available for consideration would require the HRA to adjust the levy of .0131% downward to produce revenues of $31,500. This action would be consistent with previous estimates, and, would not require an adjustment to the 1993 budget. Commissioner Kropuenske stated that the HRA should choose to receive • the maximum levy of $52,600 in order to build up a fund for purposes of acquiring blighted property. Unless the HRA has sufficient funds available to acquire properties when they become available, opportunities to eliminate blighted areas will be lost.