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<br />HRA DISCUSSION <br />Date: 06-15-04 <br />Item No: 9.a. <br />Director Approval: Agenda Section: <br /> CB Discussion <br />di <br />Item Description: 2005 Budget Discussion <br />Budget Process: <br />1.0 <br />1.1Each year the HRA needs to review its housing plan and budget to determine if additional <br />levy funds are needed to carry out its goals and action steps. If a levy is requested, a <br />resolution and budget must be adopted and presented to the City Council in August to <br />include within the City budget and levy request that is submitted to the County in September. <br /> The HRA is scheduled to present their budget and levy request at the August 24, 2004 <br />Council meeting. <br />1.2To prepare a budget, the HRA will need to review the housing plan and programs to <br />determine what new and/or revised activities they would like included in 2005. With a <br />draft budget presented in July based upon the discussions at the June meeting, the HRA <br />th <br />will set a public hearing for August 16 to gain public comment and adopt a preliminary <br />2005 budget and levy request. <br />Review of HRA Housing Plan and Programs <br />2.0 <br />The HRA’s housing plan is broken up into 6 main categories plus administration. Those programs <br />are as follows: <br />Home & Garden <br /> – This program typically brings in as much revenue as expenses. In <br />2004, additional staffing will be provided to manage the program. This was accounted <br />for in the budget and staff is confident that enough sponsorship revenue and exhibitor <br />fees will be collected to pay for the staff time. Previous years, the staff time was not <br />paid directly from the program income. <br />Housing Replacement <br /> – An example of this program is the 2012 Eldridge project that <br />the HRA is currently reviewing. This is a particular case where the HRA is being <br />proactive in considering eminent domain for its acquisition and replacement. The HRA <br />could market the program more proactively on a volunteer basis to target properties that <br />have been in disrepair and where the owners are willing to sell to the HRA. In the past, <br />the City had targeted three properties for purchase a year under a volunteer housing <br />replacement program. Current budget would only allow funds to purchase one home per <br />year. If the HRA chooses to be more proactive, it is suggested that more funds be <br />allocated to the program in 2005. <br /> HRA Budget Discussion - Page 1 of 4 <br /> <br />