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Request for HRA Action Director Approval: � . Description: 2009 RHRA Budget (HF0069) 1.0 Requested Action: Date: 08-19-08 Item No: 8 Agenda Section: Action 1.1 The RHRA should review the budget prepared by staff and reviewed by the RHRA Finance sub-committee and make a recommendation the City Council regarding the 2009 budget and RHRA levy. 2.0 Budget Process: 2.1 Per State Statute 469.033, subdivision 6, the HRA must each year formulate and file a budget in accordance with the budget procedure of the City in the same manner as required of executive departments of the City. 2.2 To request an HRA levy, the RHRA must adopt a resolution and budget and present it to the City Council in August. Assuming approval, it will then be included within the City budget and levy request that is submitted to the County in September. The City Council holds hearings on all elements of the budget including any proposed HRA levy with eventual adoption of RHRA budget in December 2008. 2.3 According to Chris Miller, City Finance Director, the maximum levy that the RHRA can impose in 2009 is $836,639.00. The HRA levy is outside of the levy limits recently instituted by the state legislature. 3.0 2009 RHRA Budget Details 3.1 At the July 15, 2008 meeting, staff presented the RHRA Board a proposed 2009 budget. The Board indicated that a few changes should be made to the budget and directed staff to bring the budget back to the August RHRA meeting. 3.2 Specifically, the RHRA decided that a Down Payment Assistance program in the amount of $50,000 proposed by staff should not be funded for 2009. The RHRA Board asked that staff review our strategic plan to see if there could be any other potential use of these funds. 3.3 From this review, staff feels that overall the 2009 budget addresses the priorities in the RHRA Strategic Plan pretty well, but given the emphasis of the plan on making sure RHRA 2009 Budget Discussion - Page 1 of 2