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REQUEST FOR HRA ACTION <br />Director Approval: <br />��, <br />Date: 04-21-09 <br />Item No: 10 a. <br />Agenda Section: <br />Action Items <br />Item Description: Approval of lst Quarter Roseville HRA operating budget and finance <br />update of 720,721, and 722 restricted accounts. <br />1.0 Requested Action <br />Approve, the lst Quarter Roseville HRA 723 operating budget and finance update of <br />720, 721, and 722 restricted accounts. <br />2.0 Background <br />2.1 The Roseville City Council, on December 15, 2008 approved a levy amount of $258,000 <br />for the Roseville HRA 723 operating budget. The total amount of 723 operating budget <br />for 2009 is $647,400. This amount does include the $100,000 that was set aside in 2008 <br />for the Har Mar Apartments rehabilitation. The costs to date reflect 28% expended from <br />the 2009 operating budget. <br />2.2 Account 720 is Community Development Block Grant funds that have been used for <br />Home Buyer assistance. These funds do have many restrictions in order for the RHRA to <br />reuse. Currently the HRA has $107,207.68 available to use if we are able to design a <br />program that would meet all of the restrictions. The total amount of $118,000 are <br />outstanding loans from Villa Park and the SHRP program. <br />2.3 Account 721 is Community Development Block Grant funds that have been used for <br />Multi-Family rental rehab assistance. The RHRA has committed $250,000 of these funds <br />to Har Mar Apartments. This will give the RHRA a remaining balance of $40,432.15 to <br />assist other affordable rental housing developments meeting certain guidelines. <br />2.4 Account 722 is the Abatement Program that the RHRA funded in 2008. Currently the <br />RHRA has $96,974.73 available. The current assessed amount to be paid back in 2009 is <br />$8,899.51. The current outstanding amount to be assessed in 2009 for payment in 2010 <br />is $4,931.58. The amount in the fund will vary based upon when the inspection <br />department needs to perform abatements for properties that have outstanding code <br />violations. <br />3.0 Staff Recommended Action <br />Staff is recommending the approval, of the lst Quarter Roseville HRA 723 operating budget and <br />finance update of 720, 721, 722 restricted accounts. <br />Prepared by: HRA Housing Program Coordinator Jeanne Kelsey (651-792-7086) <br />RHRA_ Approval of lgt Quarter RHRA operaring budget and restricted accounts (04-21-09) - Page 1 of 1 <br />