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�__ty <br /> Elk <br /> River - Request for Action <br /> To Item Number <br /> Housing and Redevelopment Authority 2.0 <br /> Agenda Section Meeting Date Prepared by <br /> Budget Discussion August 3,2020 Amanda Othoudt,ED Director <br /> Item Description Reviewed by <br /> Discuss 2021 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 September 8,2020, HRA meeting. <br /> Background/Discussion <br /> As part of the budget process, a budget workshop is advisable to allow for informal discussions regarding the <br /> 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,Mississippi Connections Plan, the <br /> city's vision worksheet, and recent HRA discussions. To meet HRA bylaws, the budget must be approved by <br /> September 8, 2020, and make recommendation to the City Council that evening. <br /> As drafted,the proposed 2021 expenditures are $472,450, an increase of$94,200 over this year. It includes <br /> decreases to Postage, Insurance, and Building repair/maintenance Services. Increases are proposed in Publishing and Dues <br /> and Subscrpvions. Most of the proposed expenditure increase is for property acquisition. <br /> The HRA levy options are as follows: <br /> 1. Previous levy of$370,250 <br /> 2. Maximum levy not to exceed .0185 percent of the county's estimated market value. <br /> 3. Balanced levy of 321,450 <br /> All levy options are applied against the Estimated Market Value obtained from Sherburne County. This <br /> information is not yet available from Sherburne County. In addition to the tax levy we also calculate interest <br /> income of$5,500. <br /> Financial Impact <br /> N/A <br /> Mission/Policy/Goal <br /> HRA Bylaws require the Executive Director to prepare a budget and present it to the Commissioners of the <br /> Authority for consideration in August of each year. <br /> Attachments <br /> ■ HRA 2021 Budget Worksheet <br /> ■ HRA 2021 Goals <br /> The Elk River Vision <br /> A welcoming community with revolutionary and spirted resourcefulness, exceptional service,and commum-0 <br /> engagement that encourages and inspires prosperity P U w E A E U 8 T <br /> w'iAURE <br />