2006-08-15_Agenda - Laserfiche WebLink

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HRA Finance Subcommittee Budget Discussion - Page 2 of 3 3.0 Proposed Budget Considerations – Levy Fund 723: 3.1 Attached is a proposed HRA levy budget that shows expected revenue/expenses for 2006, proposed 2007 budget and change over 2006 budget. The proposed 2007 budget is reflective of funds carried forward and anticipated projects for 2007. The HRA Finance Subcommittee met on August 2 and discussed these budget considerations. a. Home & Garden Fair – The 2007 show will be the first year fully absorbing consulting fees. As an alternative, the finance subcommittee proposes to explore the use and payment of a part time parks & recreation staff member to coordinate the fair logistics and activities. This will reduce the professional services line item for a closer break-even program. b. Multi-Family Rehab - Most of the MF rehab is funded with restricted funds (720, 721). In 2007 a critical programs will have a budget impact that includes legal fees for review and project research. The finance subcommittee determined that it is in the best interest to account for the legal fees for this project within this line item even though there could be a possibility that the costs will be reimbursed at a later date. c. Ownership Rehab Program – Finance Subcommittee Recommendations: i. Continue Housing Resource Center Program at an annual fee between $35,000-$40,000. ii. Continue design grants ($18,000). iii. Consider reserve funding for emergency rehab and/or additional loan funds for $100,000. d. First Time Homebuyer Program – Finance Subcommittee Recommendations i. Include funding for marketing of SHRP homes to Roseville residents e. Neighborhood Enhancement Program – Finance Subcommittee Recommendations i. Although the Citizen Advisory Group process is not complete there will likely be a budget impact regardless if there is a rental licensing program implemented with fees or some other program (enhanced code enforcement/neighborhood liaison) to address neighborhood issues associated with rental property. ii. In addition, the HRA should consider doing another set of neighborhood meetings which could help with the update to the housing plan as part of the Comprehensive Plan. This would involve a facilitator. f. Marketing Studies – Finance Subcommittee Recommendations i. HRA should consider updating the MF housing study and housing demographic numbers and/or funding for additional marketing programs. In addition, continue the distribution of the Housing Link as part of the City Newsletter. g. General Administrative Expenditures i. HRA Executive Director, general legal fees (usually minor) and fiscal fee include inflationary increases. h. Reserves i. Include a minimal reserve fund.