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HRA Regular Session Meeting Date: 02/ 14/2012 By: Diana Lund, Finance 5. 1. Title: Adopt Resolution # 12-02-XXX Adopting the 2012 Housing & Redevelopment Authority Budget and Adopt Resolution #12-02-XXX Amending the 2011 Housing & Redevelopment Authority Budget Background: Attached for your review and consideration is the 2012 Housing & Redevelopment Authority (HRA) budget. This is the same budget that was presented at the time of the HRA Levy with adoption in December. The budget now needs to be formally adopted. The financing source for these operations is interest earnings, prior years fund balance and property taxes from the HRA levy. The HRA budget outlines expenditures associated with such items as staff time, development managers contract, marketing of the COR and parking ramp maintenance. The majority of HRA expenditures relate to COR activities. Also attached to this case is a resolution amending 2011 activity. This is primarily a "housekeeping" item and is done on an annual basis. The projections through the end of the year are based on actual activity and will be finalized after the annual city audit in April 2012. Recommendation: Approve attached Resolution #HRA-12-02-XXX Adopting the 2012 Housing & Redevelopment Authority Budget; And Approve attached Resolution #HRA-12-02-XXX Amending the 2011 Housing & Redevelopment Authority Budget. Funding Source: HRA activities are funded by the HRA levy and existing fund balance. Council Action: Motion to recommend HRA adopt Resolution #HRA-12-02-XXX Adopting the 2012 Housing & Redevelopment Authority Budget; And Motion to recommend HRA adopt Resolution #HRA-12-02-XXX Amending the 2011 Housing & Redevelopment Authority Budget. 2012 HRA budget Adopt 2012 HRA Budget Amend 2011 HRA Budget Attachments Form Review Inbox Reviewed By Date Heidi Nelson Heidi Nelson 02/09/2012 02:57 PM Form Started By: Diana Lund Started On: 02/08/2012 06:43 AM Final Approval Date: 02/09/2012