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<br />CASE #1 <br /> <br />TITLE: <br /> <br />ADOPT RESOLUTION APPROVING PROPOSED 2009 HRA LEVY <br /> <br />BY: <br /> <br />Sylvia Frolik, HRA Executive Director <br />Diana Lund, Finance Officer <br /> <br />INTRODUCTION: <br /> <br />Each "taxing authority" must adopt a proposed budget for payable 2009 and certify its proposed <br />property tax levy for payable 2009 to the County Auditor by September 15. <br /> <br />DISCUSSION POINTS: <br /> <br />On March 5, 2005 the City Council established a Housing and Redeyelopment Authority (HRA). <br />The bylaws state that the makeup of the HRA will be the Ramsey City Council. <br /> <br />In September and December 2007, the Ramsey HRAlCity Council adopted the 2008 levy and <br />HRA budget, respectively, in the amount of $312,443. The 2008 levy remained constant with <br />what had been levied in year 2007. The maximum allowable levy would have been $330,529. <br /> <br />For budget year 2009, it is again being asked to keep the levy steady at the rate of$312,443. The <br />maximum levy is estimated at $341,068 (.0144 of the City's total taxable market value of <br />$2,368,528,100). The levy would again be used to fund personnel, consulting, and housing <br />programs. An example of the effect on a property taxpayer with a market value of $200,000 <br />would be $26.38 per year ($28.80 ifmaximum levy was used). <br /> <br />ATTACHMENTS: <br /> <br />~ Proposed HRA Budget <br />~ Proposed resolution to adopt proposed 2009 HRA levy <br /> <br />STAFF RECOMMENDATION: <br /> <br />~ Adopt a resolution approving the proposed 2009 HRA levy in the amount of $312,443. <br /> <br />COMMISSION ACTION: <br /> <br />Motion by Commissioner and seconded by Commissioner to adopt <br />Resolution #HRA-08-08-XXX authorizing the approval of the proposed 2009 HRA levy in the <br />amount of $312,443. <br /> <br />REVIEW CflECKLIST: D <br /> <br />City Administrator ~. <br />City Finance Officer <br /> <br />BRA: 08/26/08 <br /> <br />9 <br />