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The amount of the levy for the following year will be based upon the budget for the <br />following year. <br />6.0 Why does Roseville need an HRA and HRA levy? <br />a. Provide a dedicated and continuous source of funding for safe and decent housing <br />within the City. <br />. The housing fund is currently stagnant, meaning that no new dollars are dedicated <br />to the fund each year except interest income and loan repayments. With a current <br />fund balance of $800,000 and a minimum investment of $300,000 for single <br />family low interest loans and participation in the Housing Resource Center, the <br />funding to continue the current level of service will be depleted within three <br />years. New programming to address code deficiencies, multi family exterior <br />improvements and stimulate townhome and condo improvements will be difficult <br />with the current level of dollars contributed to housing programs. <br />b. Provide fle�bility in managing housing programs in partnerships with local, county, <br />state and federal funds. <br />An HRA has the ability to make direct application for many state and federal <br />programs with a more favorable ranking. Communities with an HRA are showing <br />a strong commitment to the improvement of housing which is considered very <br />positive. In addition, an HRA has more fle�bility to enter into unique financing <br />arrangements and partnerships without jeopardizing the general fund and legal <br />format of the City. <br />c. Provide for the ability to supplement and capitalize on existing housing programs. <br />. By having a dedicated stream of funds for housing, an HRA can add to and take <br />advantage of the existing City housing programs without depleting the fund <br />balance. This provides a more stable level of housing support for the community <br />now and into the future. <br />d. Support the administration and function of a housing program and more accurately <br />align staff duties with budget dollars. <br />. It is estimated that the current Community Development staff dedicates one half <br />of a professional staff and 1/3 of an administrative staff to the production, <br />administration and marketing of the housing programs. In addition, many <br />mailings, copying and promotional information is produced in-house specifically <br />for the housing programs. These costs are estimated at approximately $50,000 <br />per year and are currently absorbed by the Community Development Department, <br />which is fully funded by permit fees. It is estimated that an HRA would include <br />approximately 1,800 hours of work much of that the current staff already does. <br />However, paying for that time and administration can more accurately be justified <br />