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City of Roseville - Housing & Redevelopment Authority Meeting Minutes for July 15, 20...Page 2 of 6 Chair Majerus opened the public hearing and asked that Executive Director Bennett provide a summary of the written HRA Housing Plan and Preliminary Budget dated 7/15/03. Executive Director Bennett explained the 2003 process to create the HRA Housing Plan. Bennett summarized goals and proposed action steps and programs. The budget for 2004 was estimated at $1,024,000 in expenses. The revenue includes using the cash balance in the housing funds at the end of 2003, as well as LDC\CDBG funds, interest\investment income, home and garden fair fees and the estimated maximum levy of $490,000 to equal $1,024,000 in total revenue for 2004. There being no further questions, Chair Majerus closed the hearing. Member Kelsey asked for clarification of how the possible County HRA levy would affect the budget as it relates to the costs of the HousingResource Center. Bennett noted that the HRA Board could revise the budget at any time. Chair Majerus asked for an explanation of the benchmarks and measurements. Bennett clarified that the plan will include developing a process for benchmarking the effectiveness of the programs. However, the success of the HRC is an example, which assisted over 1,000 residents and generated $1.6 million in housing improvements. Motion: Member Marks moved, seconded by Member Scheunemann, to approve the HRA Housing Plan as presented. Ayes: 4 Nays: 0 Motion carried Motion: Member Scheunemann moved, seconded by Member Kelsey, to approve the HRA budget for 2004. Ayes: 4 Nays: 0 Motion carried Action Items 8. Consider a resolution requesting an HRA tax levy in 2003 collectible in 2004 a. Chair Majerus requested Executive Director Bennett to provide a summary of the proposed 2004 levy and levy process from a staff report dated 7/15/03. Majerus asked where the revenue sources for the Housing Fund came from and why they were no longer available. Bennett explained that they were built up over many years through bond fees and excess development revenue. There have not been any new housing developments that requested bonding and the development revenue is no longer available. Majerus asked HRA attorney Casserly what type of return on investment residents can expect based upon his experienced working in other communities. Casserly noted that the HRA should tie the revenues from the levy to specific programs. Casserly explained how Fridley tied the HRA levy revenues to an improvement loan program. Kelsey noted that her expectation is that each program should eventually have a self sufficient revenue source. http://archive.ci.roseville.mn.us/council/hra/minutes/2003/hram030715.htm3/25/2010