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<br />best legal authority to do so. <br /> <br />3.4 The City Council will still maintain control over the HRA , its plans, and <br />activities similar to every City Department. Any levy recommended by the HRA <br />based upon an annual budget would need to be approved by the City Council as <br />part of the budget process. In addition, an HRA can be dissolved, after public <br />notice and a public hearing, at the discretion of the Council. Any fund balance that <br />the HRA has at that time would be transferred to the City General Fund. <br /> <br />3.5 What opportunities might the City lose because of the absence of an HRA? <br /> <br />a. The presence of an HRA will create a dedication to housing and a dedication to <br />the long term funding for housing. While staff does not know if the city lost any <br />opportunities in the past, it is our perspective in talking to housing professionals <br />that fund providers look for all available evidence that entities seeking funds for <br />housing have the long term, stable funding commitment and infrastructure in <br />place to maximize use of available funds. From that perspective, all things being <br />equal, fund providers give more points, or weight, to requests from HRA's than <br />from City Council's. The presence of an HRA demonstrates that a community is <br />committed to a sustained and concentrated effort to fund and improve housing. <br />From the perspective of fund providers, a request from a City Council may be a <br />one-time, uncoordinated effort to "do something" in response to some current <br />situation; fund providers choose to provide money to an organization dedicated to <br />housing issues rather than to a generalist organization. <br /> <br />3.6 An HRA levy does not need to be instituted immediately. The current housing <br />fund can be converted to the HRA (if established) for housing use and when the <br />fund begins to deplete (staff estimates that this will happen in about 3 years) an <br />HRA levy can be approved in any year as part of the budget process. <br /> <br />4.0 Suggested Council Action <br /> <br />4.1 Approve (deny) a resolution establishing a Housing and Redevelopment Authority to <br />function in the City of Roseville. <br /> <br />Prepared by: Cathy Bennett (490-2241), Dennis Welsch (490-2232), Neal Beets (490-2201) <br />Attachments: Draft Resolution <br /> <br />Q:\Planning Files\3400-3449\3405 _City of Roseville _HRA \RCA for HRA (61702).doc <br /> <br />Establishment of an HRA Page 3 of 3 <br />