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effort is made to replenish the fund but it is estimated that over the next five years, based upon <br />current needs in the community, Roseville's housing fund resources will be very limited. <br />. The amount of an HRA levy must be approved by the governing body of the city and shall not <br />exceed 0.0144 percent of the total taxable market value. Using 2002 total taxable market value <br />in the City of Roseville the maximum about that can be generated from an HRA levy is <br />appro�nately $380,000. Using the median assessed value in Roseville at $140,500 the City tax <br />is equal to $45 1 for 2002. An HRA levy at the ma�num level would add an additional $22 to <br />that tax bill if all other taxing levies remained constant. <br />. Many other communities in the Twin Cities ha�e HRA and use their HRA levy power to fund <br />housing programs and projects. Attached is a memorandum prepared by the MCDA based upon <br />their research of the proposed special levies for various municipalities in the Twin Cities. These <br />levies include HRA, EDA and Port Authority powers. Additional research would need to be <br />provided to determine only HRA levy amounts. <br />. An HRA must formulate and file an annual budget in accordance with the budget procedure of <br />the city in the same manner as required by the other city departments. The amount of the tax <br />levy for the following year shall be based on that budget that is established and approved by the <br />City Council as part of the budget process. <br />. A public hearing and proper public notice would be required for consideration of establishment <br />of an HRA. <br />6.0 Staff Recommendation. <br />Staff recommends approval of the revised Roseville Housing Improvement Plan for 2002In addition <br />staff would like Council's direction regardingthe establishment of a Housing and Redevelopment <br />Authority in the City of Roseville. <br />7.0 Suggested Council Action. <br />. By motion, adopt the Roseville Housing Improvement Plan for 2002 as amended. <br />. Provide direction to City staff on beginning the process for establishment of a Housing and <br />Redevelopment Authority in the City of Roseville. <br />Prepared by: Cathy Bennett, 490-2241 <br />Attachments: Amended Housing Improvement Plan for 2002, Housing Programs Annual Report 2001 <br />Q:1HousinglAnnual Housing Program Approval RCA 3-I 1-02.doc <br />RCA - Annual Housing Report 03/1 1/02 - Page 3 of 3 <br />