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the option we are considering addresses that problem. For me, this is part of considering other options to make sure that we have arrived at the best possible solution. Assuming that a lax of flexibility is currently a problem, what other options have we explored to increase our "flexibility?" I would like specific examples of options staffhave considered and why those options were rejected. On this same point, the materials indicated that an HRA "has more flexibility to enter into unique financing arrangements and partnerships without jeopardizing the general fund and the legal format of the City." What is an example of a "unique financing arrangement" that the city has had to forgo because of the absence of an HRA? How would pursuing these "unique financing arrangements" with our current structure jeopardize the "legal format of the City?" These may be valid conclusions, but the documentation doesn't provide the necessary background to demonstrate why. . Provide for the ability to supplement and capitalize on existing housing programs. (Summary 6.0, c.) The argument in the Summary is that "by having a dedicated stream of funds for housing, an HRA can add to and take advantage ofthe existing City housing programs without depleting the fund balance." Why do we run the risk of depleting the housing program fund? Not because we don't have an HRA, but because the city is arguably spending (or investing) funds from that fund at a rate greater than it is receiving funds. Simply having an HRA would do nothing to solve that problem because it doesn't (by itself) address the question of the how much money the city is spending versus how much it is receiving. The real argument here is that there is insufficient funding to meet our housing program needs. The reason I find this argument unpersuasive is that it assumes that the only way to have a "dedicated stream of funds for housing" is to have an HRA. As I discussed above, I don't think that case has been made. Again, what is to prevent us from providing this dedicated stream of funds for housing through our current budget? Providing funding at a rate greater than we are spending funds is the key in preventing a depletion of the fund balance, not simply establishing an HRA. . Support the administration and function of a housing program - (Summary, 6.0, d.). Mr. Mahon also discussed this as having several staff people in one department dealing with a portion of an issue and several staff people in another department with another portion of the issue. This item is also referred to on page 5 of as "more accurately align staff duties with budget dollars." - 3 -