Adopt Resolution Approving Proposed 2014 HRA Levy

Each “taxing authority” must certify its proposed property tax levy for payable 2014 to the County Auditor by September 16.

ANALYSIS:

On March 5, 2005 the City Council established a Housing and Redevelopment Authority (HRA). The bylaws state that the makeup of the HRA will be the Ramsey City Council.

For Budget Year 2013, staff is proposing a levy of $207,802 (maximum allowable levy for 2014 payable is $334,260).  The final adopted 2013 HRA levy was $187,268.  A taxpayer home valued at $200,000 would be paying $25.39 if the 2014 proposed levy is adopted.  The majority of the levy will be used for personnel costs and the city's share of maintenance costs of the parking ramp.  The HRA budget does not include any funding for the COR area which is to be funded via land sales.

Another funding source that could be used to offset this levy would be the use of Anoka County HRA funds held on behalf of the city.  A request for funding is currently into the Anoka County HRA and staff will know the outcome of this request prior to final adoption of the HRA levy in December.

HRA budget is supported by the HRA tax levy, possible Anoka County HRA funds and future land sales in the COR area.

Motion by Commissioner_________    and seconded by Commissioner _______   to adopt Resolution #HRA-13-XXX authorizing the approval of the proposed 2014 HRA levy in the amount of $207,802.