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HRA Finance Subcommittee Budget Discussion - Page 3 of 3 <br />3.2 2007 Suggested Levy Request <br />a. Based upon the budget considerations discussed and recommended by the <br />Finance Subcommittee, the 2007 levy request would be $155,750 or a reduction <br />of $133,235 (86% decrease) from 2006. <br />b. Staff Note - This minimal levy request will allow the HRA to continue to <br />serve the residents with existing programming and provide some additional <br />marketing. In addition, it provides some funding to address rental housing <br />upon recommendation from the Citizen Advisory Group. However, the <br />HRA should be aware that the levy request does not provide funding for any <br />new programming in 2007. The HRA should, with the City Council, consider <br />a longer term vision for funding larger, more complex housing issues in the <br />City. New programming, larger renovation and addressing deteriorating <br />housing will take a much larger investment in future years. <br /> <br />4.0 Suggested HRA Action: <br /> <br />4.1 Based upon the Finance Subcommitee’s recommendation, the following actions are <br />suggested. <br /> <br />a. By motion , adopt a preliminary 2007 Budget (with HRA member changes) for <br />levy fund 723. <br />b. By resolution (draft attached), request an HRA Tax Levy for 2007 to be <br />forwarded to the City Council as part of the budget and truth in taxation hearings. <br />