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In addition, the HRA levy is spread across all property owners including commercial and industrial properties. Land Use Total Market % C rte mated H RA Eat. Value 2003 Market Levy Contri butlo n Tax HRA Levy Value Total -.0144%-2003 Multi-FarriiN Residential Mp60 ,700 14.88% 73,E Stn le -Famrl Resklentfal $1 *654, 755,700 % 48.31% r +RML 85 Commercial $677.p535,300 19.78% $97,565 Industrial $333g3359200 9.73 $4810 vac anfi #her $22,451 9400 0.66 $3!233 How does Roseville Compare to Other First Ring City's? Marry other first ring suburban communities like Roseville have an HRA. These communities have similar property values, levy at the maximum H A amount to fund their housing programs and administration but also have higher overall city annual taxes. Roseville continues to have one of the lowest property taxes compared to other metropolitan communities of like population size. The following is a sample of first ring cities that levy for housing. city Population Annual city Maximum Eat. Average Tax HRA Levy Annual SF (H FAA not Levy Property Indudad) Amount value (175,000 Richfield $43,126 $662 Yes $300,000 $177*500 St. Louis Park $44,126 $637 Yes $450,000 $175*000 Ridley $273490 $510 Yes $220,j000 $175,600 Roseville $339690 1 W I Proposed $4003000 $194,256 t There are several other funding options the H A could pursue to assist in accomplishing many of the action steps in the HRA Housing Plan. However, those options are usually restrictive on their use (income limits,, construction requirements, restricted use for administration., etc.) As an example the cost far the HousingResource Center services and administration of the H FAA would not be an eligible use for many of these other programs. The following is a summary of other funding options the H IAA will pursue in the future to supplement an H IAA Levy if approved. Housing rants/Loans: Grants are always an option but they are not a guarantee of funds which is why it can not be included in a budget. Grants are very competitive and usually require a match of funds. In addition, grants (such as the LDC and CDBG funds) typically are restricted for low - moderate income projects. The greats will not fund administration, marketing and other overhead. Grants vwil I typically not fund professional services such as the HousingResource center, studies and legal fees. Also, many agencies that provide these funding options are looping for return on their investment where loans are more typical than outright grants. And although grants are a wonderful addition to fund a particular project, they are usually very staff intensive (graM 0 Page 3