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Request for HRA Action <br />Director Approval: <br />; , _ ._ !�`:._.�_. � <br />Description: 2016 RHRA Budget <br />Date: 08-18-15 <br />Item No: 9c. <br />Agenda Section: <br />Action <br />1 Requested Action <br />2 The RHRA needs to adopt a preliminary 2016 budget by resolution. The draft 2016 budget <br />3 included in this report has been based on direction from the RHRA Finance Subcommittee. The <br />4 RHRA needs to review and, if necessary, modify the draft 2016 budget. <br />5 Budget Process <br />6 Per State Statute 469.033, subdivision 6, the HRA must formulate and file a budget each year in <br />7 accordance with the budget procedure followed by the executive departments of the Ciry. <br />8 To request a preliminary HRA ]evy, the RHRA must adopt a resolution and budget and present it <br />9 to the City Council. The RHRA 2016 budget is scheduled to go to the Council August 24, 2015. <br />10 Assuming approval, the RHRA budget will be included in the City budget and levy request that <br />11 is submitted to Ramsey County in September. The City Council then holds a public hearing on <br />12 all elements of the budget in December, including any proposed HRA levy. This process would <br />13 solidify the amount the City will levy in 2016. Once the initial HRA levy request is approved in <br />14 August, the levy can still be lowered but cannot be raised above the preliminary level. <br />15 Background <br />16 To prepare the 2016 RHRA budget, staff used the draft September 2015 — August 2019 Strategic <br />17 Plan and held a discussion with the RHRA Finance Subcommittee. <br />18 According to Chris Miller, City Finance Director, the maximum levy that the RHRA can impose in <br />19 2016 is $752,913. In 2014 and 2015, the HRA levy was $703,579. The RHRA Finance <br />20 Subcommittee is recommending a levy of $650,000 which is a 7.6% decrease from 2015 amount and <br />21 14.7% ]ess than the maximum levy. <br />22 The impact on a median-valued home of $216,500 would be approximately $33.45 annually, which <br />23 is approximately $3.26 less than 2015. <br />24 In 2016, the following programs will continue to operate but will receive no additional funds: <br />Roseville Loan Program (consolidated home improvement loan program) $0 <br />Abatement Assistance (payment of abatement costs far code enfarcement activities). $0 <br />Housing Replacement/Single Family Construction Fund $0 <br />25 In 2016, the following programs will be discontinued: <br />Roseville "Living Smarter" Home and Garden Fair $0 <br />2016 RHRA Budg�t Discussion - Page 1 of 3 <br />