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ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY <br /> Item 7. <br /> MEMORANDUM <br /> TO: Housing and Redevelopment Authority <br /> C v FROM: Paul T. Steinman,Director of Economic <br /> Development <br /> DATE: August 8, 1996 <br /> SUBJECT: Approve 1997 HRA Budget and Levy <br /> Based on a maximum levy of.0131 percent of the taxable market value of the <br /> city, the Housing and Redevelopment Authority will have revenues of <br /> approximately $68,000 in 1997. The proposed 1997 HRA budget is as <br /> • follows: <br /> Contractual Services <br /> Postage $ 500 <br /> Reserve for future projects $ -0- <br /> Repay King/Main loan $37,000 <br /> Sidewalk Replacement Project $15,000 <br /> Riverfront $15,000 <br /> Transfers Out <br /> General Fund $ 500 <br /> Total 1997 Proposed Budget $68,000 <br /> HRA Commissioners should note that previous budgets included Railroad <br /> Drive parking lot improvements and Evans/Main Street parking lot <br /> improvements in total of approximately $37,000. Previous budgets also <br /> included a reserve for future projects of approximately $10,000. <br /> 410 The HRA's current fund balance as of July 31, 1996, is $122,086. <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 />