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Request for Council Discussion <br />Di rt��or �p�xr�v�l : <br />�'. B Y <br />Date: 08-22-OS <br />Item No• <br />��,eud� 5�cifon: <br />�� R�p�rts <br />� <br />Item Description: Presentation of HRA Budget and Levy Request for 2006 (�3T 31) <br />L .i� Requested Action: <br />L. L Review the HRA's 2006 Program Budget for Funds 723 (levy supported) and 721 <br />(federal funds) and consider 2006 Levy Request for certification of levy by September 13, <br />2005. <br />L.� On August 16,2005, the �RA adopted the 2006 Preliminary Program Budget and <br />approved Resolution No. 17 requesting a levy for 2006 to support programs and <br />administration of the HRA. <br />]. 3 The IIRA appreciates the opportunity to provide a summary of the programs that would <br />be supportedby the levy request for 2006 and welcome's Council comments and <br />suggestions. <br />�.. � Budget Process: <br />?. ] Per State Statute 469.033, subdivision 6, the ��2A must each year formulate and file a <br />budget in accordance with t�e budget procedure of the City in the same manner as <br />required of executive departments of the City. <br />�_3 A levy request must be made by resolution and the amount of the levy must be backed by <br />the budget for the coming year. The request is forwarded to the City Council for <br />consideration as part of the preliminary and final levy certification process. <br />�_� <br />:{.� <br />The FINAL levy is set in December at the Truth in Taxation hearing. The maximum <br />levy submitted to the County and State can be reduced prior to the truth in taxation <br />hearing but it can not be increased. The amount approved at the Truth in Taxation <br />hearing is the amount that will be included for taxes payable 2006. <br />Review of HRA Program Budget, Housing Plan, Accomplishments and Levy Request <br />�, l Staff has prepared and attached a summary narrative of the proposed budget as well as <br />spreadsheets for both the levy fund (723) and the restricted federal funds (721). The <br />information outlines the need for a levy in the amount of $288,895 in 2006 to support <br />existing programs and to begin a rental license program of single family, duplexes, <br />triplexes and fourplexes in 2006. Staff has included the cost and revenue for the rental <br />Presentation on I-IRA Budget & Levy Request - Page 1 of 2 <br />