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Request for Action <br />ToItem Number <br />Housing and Redevelopment Authority2.0 <br />Agenda Section Meeting DatePrepared by <br /> <br />N/AJuly 10, 2017Amanda Othoudt, EDD <br />Item Description <br />Reviewed by <br />Discuss 2018HRA Budget & Budget GoalsLori Ziemer, Finance Director <br />Reviewed by <br />Cal Portner, City Administrator <br />Action Requested <br /> <br />Information presented for discussion only. Action is to be taken at the August 7, 2017,HRA meeting. <br />Background/Discussion <br />As part of the budget process, a budget workshop is advisable to <br />the goals and objectives, major projects, and other items influe <br />To this end, staff has prepared a draft budget that attempts to address several of the goals outlined in <br />strategic plan, downtown plan, the citys 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 7, 2017, regular <br />meeting and make recommendation to the city Council at the September 4, 2017,regular meeting. <br />As drafted, the proposed 2018 expenditures are $197,550, a decrease of 35% from the previous year. Staff <br />is proposing to decrease expenses from other professional servic <br />schools, contractual services. <br />The HRA levy options are as follows: <br /> <br />1)Previous rate (0.01276%) <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 o. 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 /> <br />None <br /> <br />Attachments <br />HRA 2018 BudgetWorksheet <br />HRA 2018 Goals <br />2017-2020EDA/HRA Strategic Plan <br />Template Updated 4/14 <br />