CC_Minutes_2002_0610 - Laserfiche WebLink

Home

III Mayor recommends HRA Commissioners - July 15 iii Appoint Commissioners - Council Approval - July 15 IIiI first HRA Meeting - complete organizing documents, adopt housing plan and budget - August June 10, 2002 13 ~HRA levy Process $ . Once the HRA is established, the HRA Board must pass resolution annually regarding levy amount and purpose . Budget must be submitted to Council as part of budget process each year . Amount of levy is based upon the budget each year June 10, 2002 Rosevllle Comm. Development - PF #3405 15 1illi~"oseVille Housi n9 Distribution June 10, 2002 17 RA levy Authority III Special tax on all taxable property specifically to fund housing programs III levy amount outside general City levy limits III Maximum levy authority - .0144 percent of taxable market value . Estimated at $380,000 in 2002 . Increase average Roseville home tax - $22 - all things being equal June 10, 2002 Rosevilfe Camm. Development - PF #3405 14 ~Value of HRA's :.;#3 III Of her cities perspective: . Shows strong commitment to Housing . Leverages other public/private funds . Considered favorable status by other agencies - Federal, State, Regional . If use levy authority- . ~ource of revenue dedicated to housing; can Issue revenue bonds . Use in coordination with City "HRA start-up" loans June 10, 2002 Roseville (amm. Development- PF #3405 16 ll;;'fwnerShiP Comparison June 10, 2002 Roseville Comm. Development - PF #3405 18 3