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<br />CASE #1 <br /> <br />ADOPT RESOLUTION APPROVING PROPOSED 2010 HRA LEVY <br />By: Amber G. Miller, Planning Manager <br /> <br />BACKGROUND: <br /> <br />Each "taxing authority" must adopt a proposed budget for payable 2010 and certify its proposed property tax levy <br />for payable 2010 to the County Auditor by September 15. . <br /> <br />ANALYSIS: <br /> <br />On March. 5, 2005 the City Council established a Housing and Redevelopment Authority (HRA). The bylaws state <br />that the makeup of the BRA will be the Ramsey City Council. <br /> <br />In 2007, the Ramsey HRAlCity Council adopted the 2008 levy and HRA budget, respectively, in the amount of <br />$312,443. The 2008 levy remained constant with what had been levied in year 2007. The maximum allowable levy <br />would have been $330,529. <br /> <br />For budget year 2009, it was asked to keep the levy steady at the rate of $312,443. The maximum levy is estimated <br />at $438,178 (.0185% of the City's total taxable market value of $2,368,528,100). An example of the effect on a <br />property taxpayer with a market value of $200,000 would be $26.38 per year. TP.e levy was used to fund personnel, <br />consulting, and housing programs. <br /> <br />For 2010, Staffis recommending the maximum levy of$410,124 (.0185% of total taxable market value of <br />$2,216,886,700). A taxpayer home valued at $200,000 would be paying $37.00 towards the levy. As you may <br />recall, the Town Center was purchased through the HRA and there will be ongoing costs associated with the <br />property. Some of the costs attributed to the purchase are the parking ramp agreement which is $50,000 a year, <br />ongoing maintenance of the property, marketing of the property, miscellaneous consultants needed to move the <br />project forward, and the Council's stipend of $75.00 per councilmember per meeting. A proposed budget is . <br />attached for your review. <br /> <br />STAFF RECOMMENDATION: <br /> <br />Adopt a resolution approving the proposed 2009 HRA levy in the amount of $41 0, 124. <br /> <br />BOARD ACTION: <br /> <br />Motion by Commissioner and seconded by Commissioner to adopt Resolution #HRA-09-09- <br />006 authorizing the approval of the proposed 2010 HRA levy in the amount of $410,124. <br /> <br />City Administrato <br />City Finance Offi e \ <br /> <br />Attachments: ~ <br />A: Proposed Resolution HRA-09-09-006 <br />B: ProposedHRA 2010 Budget <br />HRA: 09.01.09 <br /> <br /> <br />Reviewed by: <br /> <br />5 <br />