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��i <br /> Eof <br /> lk — - Request for Action <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authority 2.0 <br /> Agenda Section Meeting Date Prepared by <br /> Budget DiscussionJuly 2, 2018 Amanda Othoudt,EDD <br /> Item Description Reviewed by <br /> Discuss 2019 HRA Budget&Budget Goals Lori Ziemer,Finance Director <br /> Reviewed by <br /> Cal Portner, City Administrator <br /> Action Requested <br /> Information presented for discussion only. Action is to be taken at the August 6, 2018, 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 /> The draft budget addresses several of the goals outlined in the strategic plan,downtown plan, the city's <br /> vision worksheet,and recent HRA discussions. To meet HRA bylaws, the HRA must approve the budget <br /> on August 6, 2018, and make recommendation to the City Council on September 4, 2018. <br /> As drafted,the proposed 2019 expenditures are $125,050. Due to the new comp plan implementation; <br /> this does not yet include wages and benefits. Staff proposes to decrease expenses from other professional <br /> services, contractual services, add $5,000 to fund a DT permanent public fixture policy,increase building <br /> repair and maintenance services, and balance the budget by increasing property acquisition. <br /> The HRA levy options are as follows: <br /> 1. Previous rate (0.0140%) <br /> 2. Maximum rate (0.01850%) <br /> 3. Balanced rate (will be calculated once the EMV is obtained from Sherburne 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$6,000. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> ■ HRA 2019 Budget Worksheet <br /> ■ HRA 2019 Goals <br /> ■ EDA/HRA Strategic Plan <br /> ■ Permanent Fixture Policy <br /> The Elk River Vision <br /> A Y�elcoming community vvith revolutionary and spirited resourcefulness, exceptional P U W E H E o s r <br /> service, and community engagement that encourages and inspires prosperity ,g /` UR <br />