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<br />Establishment of an HRA
<br />
<br />
<br />hat is an HRA?
<br />
<br />. This is not a request for an HRA Levy
<br />
<br />.. Separate Legal Authority
<br />. MN Statute 469.01-469.047
<br />. Purpose to remove blight and promote
<br />affordable, safe and decent housing
<br />
<br />. 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 />. Request:
<br />. Public hearing to consider
<br />establishment of a Housing &
<br />Redevelopment Authority
<br />
<br />June 10, 2002
<br />
<br />Rosevil1e Camm. Development-
<br />PF#340S
<br />
<br />June 10, 2002
<br />
<br />Rosevll1e Camm. DeveloDment -
<br />PF#340S .
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<br />Purpose of an HRA
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<br />Funding for 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
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<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 />,c, New sources limited - i~ - 1<IlaNl re pa.o
<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 />ti:
<br />
<br />June 10, 2002
<br />
<br />Rosevllle Comm. Development -
<br />PF#3405
<br />
<br />June 10, 2002
<br />
<br />Roseville Comm. Development -
<br />PF#340S
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<br />Roseville Camm. Development -
<br />June 10, 2002 PF #3405
<br />
<br />June 10, 2002
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<br />Funding for an HRA
<br />
<br />Benefit to Roseville
<br />
<br />Housing Fund Sources and Uses
<br />
<br />III 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 />S1,00J,00J
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<br />$750,000
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<br />S250,CO'J
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<br />$5OO,COO
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<br />$0
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<br />-$250,00J
<br />
<br />-$500,00J
<br />
<br />Year
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