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<br />Request for Action <br /> <br /> <br />To Item Number <br />Housing and Redevelopment Authority 2.0 <br />Agenda Section Meeting Date Prepared by <br />Budget Discussion August 5, 2019 Amanda Othoudt, EDD <br />Item Description Reviewed by <br />Discuss 2020 HRA Budget & Budget Goals Lori Ziemer, Finance Director <br />Reviewed by <br />Cal Portner, City Administrator <br /> <br />Action Requested <br />Information presented for discussion only. Action is to be taken at the September 3, 2019, HRA meeting. <br /> <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 /> <br />The draft budget addresses several of the goals outlined in the strategic plan, Mississippi Connections <br />plan, the city’s vision worksheet, and recent HRA discussions. To meet HRA bylaws, the HRA must <br />approve the budget on September 3, 2019, and make recommendation to the City Council that evening. <br /> <br />As drafted, the proposed 2020 expenditures are $370,250. Staff proposes to increase expenditures from <br />other professional services, postage, publishing, insurance, building repair/maintenance services and <br />contractual services. Expenditures have decreased for travel, conferences & schools, advertising and <br />marketing, utilities and property acquisition. <br /> <br />The HRA levy options are as follows: <br />1. Previous rate <br />2. Maximum rate <br />3. Balanced rate <br /> <br />All levy options are applied against the Estimated 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 $8,000. <br /> <br />Financial Impact <br />N/A <br /> <br />Attachments <br /> HRA 2020 Budget Worksheet <br /> HRA 2020 Goals <br /> EDA/HRA Strategic Plan <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity <br />