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Request for HRA Action Date: 08-17-04 Item No: 7.a. Director Approval: Agenda Section: CB Public Hearing Item Description: 2005 Budget Hearing and Levy Request Requested Action: 1.0 1.1Hold a public hearing regarding the proposed 2005 program budget for the HRA and requested tax levy for 2005 to support the HRA programs. 1.2Upon closure of the public hearing, consider adoption of a resolution (attached) requesting an HRA Tax Levy for 2005 to be forwarded to the City Council as part of the budget and truth in taxation hearings. Budget Process: 2.0 2.1Per State Statute 469.033, subdivision 6, the HRA must each year formulate and file a budget in accordance with the budget procedure of the city in the same manner as required of executive departments of the city. Draft budgets have been submitted to the finance department and the HRA budget is schedule to be reviewed and discussed at a City Council on August 23 public meeting by the . 2.2To request an HRA levy, a resolution and budget must be adopted and presented to the City Council in August to be included within the City budget and levy request that is submitted to the County in September. The City Council holds hearings on all elements of the budget including any proposed HRA levy. 2.3The City Council will set the preliminary budget and maximum levy for 2005 at the September 13 council meeting. The deadline for the City to submit the maximum levy for all programs (including the HRA) to Ramsey County and the Department of Revenue is September 15, 2004 for taxes payable 2005. The maximum levy 2.4The final levy is set in December at the Truth in Taxation hearing. submitted to the County and State can be reduced prior to the truth in taxation hearing but it can not be increased. The amount approved at the Truth in Taxation hearing is the amount that will be included for taxes payable 2005. HRA Budget Hearing & Levy Request - Page 1 of 9