2008-11-18_Minutes - Laserfiche WebLink

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8.Action/Discussion Items: a.2009 HRA Budget and Fund Balances Mr. Trudgeon noted that staff was able to take funds that were originally committed to the Senior Housing Regeneration Program (SHRP)and transfer them to the general fund balance as the RHRA has decided to end its participation in SHRP. Mr. Trudgeon indicated that the RHRA has approximately $256,000 in its fund balance largely due to the shift of funds out of the Senior Housing Regeneration Program. Chair Majerus reported on the recommendations of the RHRA Finance Subcommittee to use the additional funds for the Multi Family Rehabilitation Loan Program while also reducing the levy by $50,000. Member Pust asked why the subcommittee recommended funding the Multi Family Rehabilitation Loan Program at a higher level than initially recommended by staff. Chair Majerus noted that the RHRA had identified as a priority the improvement of multi-family housing in the city. Member Masche acknowledged that the subcommittee weighed the issue carefully and determined that the recommended level of funding would allow for the RHRA to make a substantive impact on the issue of deteriorating multi-family housing stock in Roseville. Member Tracy asked staff about the marketing effort proposed for the new Multi Family Rehabilitation Loan Program. Staff indicated that they would recommend a letter be sent to multi-family property owners followed by a meeting at which those owners can gather to discuss the program in more depth. Ms. Kelsey noted that staff has modeled the program after successful loan programs in other cities, including offering low interest rates to encourage property owners to utilize the funds available. Member Pust reminded the board that, in this uncertain economy, the City Council will try to minimize the effect that the RHRA levy will have on city taxpayers. The board agreed that multi-family housing improvement will benefit not only those residents living in those units but the community as a whole. The board also agreed that the Neighborhood Enhancement Program was a successful expenditure of RHRA funds and expressed a willingness to fund an expansion of this program in the future. Member Pust noted that she will abstain from the RHRA vote on this motion as she will be voting on the measure in her capacity as a City Council member. approve a resolution Motion: Member Maschka moved, seconded by Member Pust to recommending that the City Council adopt a 2009 RHRA levy of $308,000 and approve a 2009 RHRA budget in the amount of $547,000 and that the proposed levy represents a $50,000 reduction in the levy proposed in August. Ayes: 4 Nays: 0 Abstain: 2 Members Pust and Tracy abstained from the vote. Motion carried.