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HRA Meeting <br />Minutes – Wednesday, January 29, 2014 <br />Page 6 <br />1 <br />and recommendations for the HRA. Ms. Kelsey anticipated 4-5 projects in the near future, <br />2 <br />which would need resources, but while they remained unknown at this time, were reflected in <br />3 <br />the budget. At the request of Chair Maschka, Ms. Kelsey advised that $25,000 in funds had <br />4 <br />been allocated at this time. <br />5 <br />6 <br />At the request of Member Quam, Ms. Kelsey clarified the 2013 adopted budget and actual <br />7 <br />expenses as they related to the Housing Replacement and Multi-Family Housing Program, and <br />8 <br />how the funds are shown and expended to provide tracking rather than keeping the carrying <br />9 <br />costs under the general operating budget and not comingling those funds. At the request of <br />10 <br />Member Quam, Ms. Kelsey also reviewed investment income from an accrual accounting <br />11 <br />versus cash accounting perspective, and any potential HRA funds available for investment, <br />12 <br />subsequently adjusted year-end. <br />13 <br />14 <br />At the request of Member Masche, Ms. Kelsey acknowledged a typographical error in the <br />15 <br />report, with the “2014 adopted budget actual revenue expense” in Fund 723 actually being <br />16 <br />2013 actual expenses; duly noted for correction on future iterations. <br />17 <br />18 <br />Discussion ensued regarding the role the City’s Finance Director Miller played in advising the <br />19 <br />HRA (e.g. cash flow shortfall reserves), review of all funds and advising the HRA on how <br />20 <br />those funds should be expended. Additional discussion included the timing of Ramsey County <br />21 <br />tax payments and adjustments to Fund 723 accordingly through reserve funds. <br />22 <br />23 <br />Motion: Member Majerus moved, seconded by Member Lee to ADOPT FINAL <br />24 <br />BUDGET FOR 2014 <br />25 <br />26 <br />Ayes: 6 <br />27 <br />Nays: 0 <br />28 <br />Motion carried. <br />29 <br />30 <br />b.Adopt 2014 Work Plan <br />31 <br />32 <br />Motion: Member Majerus moved, seconded by Member Lee to approve the 2014 HRA <br />33 <br />Work Plan as presented by staff. <br />34 <br />35 <br />Ayes: 6 <br />36 <br />Nays: 0 <br />37 <br />Motion carried. <br />38 <br />39 <br />c.Review and Discuss Information related to HRA and EDA <br />40 <br />Ms. Kelsey provided follow-up information from previous discussions with the HRA Attorney <br />41 <br />regarding the differences in powers of HRA’s, EDA’s and Port Authorities. Ms. Kelsey <br />42 <br />provided a copy of that summary dated April 2012 (Attachment A); along with information <br />43 <br />provided from the League of Minnesota Cities Handbook (Attachment B) outlining those <br />44 <br />elements and benefits of each. <br />45 <br />46 <br />Ms. Kelsey briefly summarized the differences and powers of an HRA and EDA in <br />47 <br />redevelopment efforts; taxing levy powers of each legal entity; and rationale for reviewing this <br />48 <br />information again as a result of recent discussions coming out of the business retention survey. <br />49 <br />50 <br />Ms. Kelsey sought HRA comment as to whether they wanted to explore this further, perhaps <br />51 <br />with the City Council and HRA Attorney, to determine the best structure for this board or <br />52 <br />whether they supported any structure changes to meet their goals. Ms. Kelsey reviewed <br />53 <br />potential membership revisions; with EDA’s typically addressing redevelopment, but the HRA <br />54 <br />currently meeting those requirements in addressing blight and expending monies accordingly. <br />55 <br /> <br />