2004-08-17_Agenda - Laserfiche WebLink

Home

Administration b.: Currently the HRA funds 1/3 of City Professional Staff for HRA Executive Director and ¼ of an Administrative staff for administrative support. Based upon time spent on HRA activities and the housing programs that they fund, the Community Development Department will request the HRA to increase their contribution for the salary of the City Professional staff time to ½ time plus cover additional overhead such as supplies, mailings and paper. This would be a slight increase in the budget and contract from $40,000 to $45,000. The other parts of the administrative function is financial service fees paid to the general fund, training, professional memberships/subscriptions and general legal guidance on overall HRA functions. The legal costs associated with a particular program are accounted for within that program. Federal funds can not be used for administrative functions. Estimated Final Program Expenditure 2004 $60,534 2005 Suggested Budget Amount: 77,500 Can Federal Funds be Used No Why invest in housing maintenance and preservation through an HRA Levy? 4.0 4.1An HRA Levy is important to provide a dedicated and continuous source of funding to achieve the vision and goals of the HRA Housing Plan. The vision and goals of the HRA strive to provide the residents of Roseville with a high quality of life, sense of community and safe quality neighborhoods. In addition, the programs are structured to housing that The HRA housing plan is is balanced in price and product for people of all ages. reviewed and adopted by the City Council annually as part of the comprehensive plan. In addition, it is being proposed that an annual housing summit be held with the City Council, HRA, County, School District and other housing service providers to evaluate housing issues and the direction of the City housing programs. The HRA housing fund is fairly stagnant, meaning that limited new dollars are dedicated to the fund each year except interest income and loan repayments. The HRA has three Loan Funds categories of funds – 1.) – amount of dollars tied up in the revolving loans Restricted Funds funds and program income (estimated at $500,000) 2.) – Federally Unrestricted Funds mandated funds ($370,000) and 3.) - Annual Levy and cash – estimated at ($200,000 - $300,000 depending upon cash available). It is estimated, based upon the last 3 years that between $250,000 - $300,000 has been used to fund existing HRA/City housing programs – mostly single family renovation. Based upon current budget estimates, the city housing programs will not be able to be implemented without at least a partial annual levy. As an example, the annual fee to contract with the Housing Resource Center – the single most successful program over the past 4 years – costs $35,000 - $40,000 per year. It has been estimated that the services (financial and technical assistance) of the HRC are equivalent to 2 full time city staff members. Therefore, the investment in this program which serves over 500 residents per year and provides over 1,000 services is cost effective. However, with a small cash balance of $80,000 expected for 2005, the HRA would only be able to afford these services for one more year. HRA Budget Hearing & Levy Request - Page 6 of 9