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<br />~~ <br />/ ,/P <br />" <br /> <br />Establishment of an HRA <br /> <br />II Request: <br />.. Public hearing to consider <br />establishment of a Housing & <br />Redevelopment Authority <br /> <br />. This is not a request for an HRA levy <br /> <br />June 10, 2002 <br /> <br />Roseyille Camm. Development - <br />PF #3405 <br /> <br />f <br />^,,/ -. <br />._ 67bx'; <br />~J)j).:: <br /> <br />Purpose of an HRA <br /> <br />.. Purpose: <br />" Provide an HRA to focus on and address <br />current and future housing issues per the City's <br />Housing Policy <br />" Coordinate existing and future sources & uses <br />of funds - Primarily City of Roseville <br />. Building permit fees no longer available <br />. TIF District pooling funds no longer available <br />. Limited Community Development Block grants <br /> <br />June 10, 2002 <br /> <br />Rosevllle Comm, Development - <br />PF # 3405 <br /> <br /> <br />Funding for an HRA <br /> <br />Housing Fund Sources and Uses <br /> <br />$1,000,000 <br /> <br /> <br />$750,000 <br /> <br />$500,000 <br /> <br />$250,000 <br /> <br />$0 <br />2 <br />-$250,000 <br /> <br />-$500,000 <br /> <br />June 10, 2002 <br /> <br />Roseville Comm. Development - <br />PF #3405 <br /> <br /> <br />legal Authority <br />" MN Statute 469.01-469.047 <br />" Purpose to remove blight and promote <br />affordable, safe and decent housing <br />III Powers <br />" Buy, give, sell, transfer/convey property <br />· Provide grants, loans, leases, abatements <br />. Study housing conditions <br />. Enter into legal agreements <br />" levy taxes <br /> <br />June 10, 2002 <br /> <br /> <br /> <br />Funding for an HRA <br /> <br />.. Provide dedicated source of funding for <br />housing programs - through HRA Levy <br />" Existing $800,000 fund balance <br />. Fund create with Pooled TIF, lOB's, Bond Retirement, <br />Surplus fees - not currently available <br />. New sources limited <br />" Based on last 3 years <br />. spend $200,000 - 300,000 per year <br />" Estimate that balance will be depleted within 3 <br />years with no new programs <br /> <br />June 10, 2002 <br /> <br />Roseville (amm. Development - <br />PF #3405 <br /> <br />penefit to Roseville <br /> <br />.. Shows strong commitment to <br />current and future housing policies <br />· Improve Partnerships with other housing <br />agencies <br />· Improves outside funding applications <br />.. Improves ability to accept and manage <br />other agency funds <br /> <br />June 10, 2002 <br /> <br />Roseville (amm. Development- <br />PF #3405 <br /> <br />1 <br />