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Finance Director Lund asked if there was any appetite for equipment certificates. She noted it <br />would not go in the 2013 levy but the debt service would start in 2014. <br />The consensus of the Council was to look at all options given the cost of money in today's <br />market. <br />Finance Director Lund presented a comparison of the City's levy each year since 2007. <br />Councilmember Strommen stated she thought the Council had talked about reducing the HRA <br />levy in 2013. <br />Mayor Ramsey recalled the consensus at the last budget workshop was to not reduce the HRA <br />levy but to consider the option to lower it by augmenting with Anoka County HRA funds. <br />Councilmember Tossey stated he supports reducing the HRA levy until it is at a level where it is <br />manageable. He agreed with Councilmember Strommen that the Council's consensus was to <br />reduce the HRA levy in 2013. <br />City Administrator Ulrich noted $68,000 of staffing was removed from the EDA budget and put <br />into the HRA budget. <br />Councilmember Strommen asked how it impacts time and .duties if a majority of the position is <br />funded by the HRA and the EDA budget is reduced. She noted the EDA budget impacts the <br />City's tax rate and asked if the EDA still gets a portion of that staffing time. <br />City Administrator Ulrich explained it is broken down by percentage and the City still staffs the <br />EDA. <br />Finance Director Lund stated the staffing break down is 20% TIF, 20% EDA, and '60% HRA <br />funded. She explained HRA is higher because The COR consumes most of the staffing. She <br />acknowledged this is an estimate at this time and subject to change. <br />Councilmember Strommen asked what 20% EDA represents and if it includes staffing at EDA <br />meetings and organizing the Game Fair. <br />Finance Director Lund stated it is 832 hours. <br />City Administrator Ulrich stated all items are still staffed from the TIF or EDA levy and <br />additional staff is allocated. He explained the additional levy allowed the City to accumulate a <br />balance over the years and now that balance will be spent down until the land is sold. <br />Councilmember Tossey asked if there is a minimum levy for the HRA that has to be maintained. <br />Finance Director Lund stated there is not. <br />City Council Work Session / August 28, 2012 <br />Page 4 of 10 <br />