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EOty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authority 2.0 <br /> Agenda Section Meeting Date Prepared by <br /> N/A July 5, 2016 Amanda Othoudt,EDD <br /> Item Description Reviewed by <br /> Discuss 2016 HRA Budget& Budget Goals Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Information presented for discussion only. Action is to be taken at the August 1, 2016, HRA meeting. <br /> Background/Discussion <br /> As part of the budget process, a budget workshop is advisable to allow for informal discussions regarding <br /> the goals and objectives, major projects, and other items influencing the HRA budget. <br /> To this end, staff has prepared a draft budget that attempts to address several of the goals outlined in the <br /> strategic plan, downtown plan, the city's vision worksheet, and recent HRA discussion. In order to meet <br /> the requirements of the HRA Bylaws, the HRA must approve the budget at their August 1, 2016,regular <br /> meeting and make recommendation to the city Council at the September 5, 2016,regular meeting. <br /> As drafted, the proposed 2017 expenditures are $253,150. The 2018 budget is for informational purposes. <br /> The HRA levy options are as follows: <br /> 1) Previous rate (0.01512%) <br /> 2) Maximum rate (0.01850%) <br /> 3) Balanced rate (will be calculated once the Estimated Market Value is obtained from Sherburne <br /> County) <br /> All levy options are applied against the Estimate Market Value obtained from Sherburne County. This <br /> information has not been made available by Sherburne County. In addition to the tax levy we also <br /> calculate interest income of$5,500. <br /> Financial Impact <br /> None <br /> Attachments <br /> ■ HRA 2017 Budget Worksheet <br /> ■ HRA 2017 Goals <br /> ■ 2017-2020 EDA/HRA Strategic Plan <br /> POWERED 6T <br /> Template Updoted 4/14 INAWRE1 <br />