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HRA Regular Session 5. 1. <br />Meeting Date: 12/11/2012 <br />By: Diana Lund, Finance <br />Information <br />Title: <br />Adopt Resolution Approving Final 2013 HRA Levy <br />Background: <br />Each "taxing authority" must certify its final property tax levy for payable 2013 to the County Auditor by <br />December 28, 2012. <br />ANALYSIS: <br />On March 5, 2005 the City Council established a Housing and Redevelopment Authority (HRA). The HRA bylaws <br />state that the makeup of the HRA will be the Ramsey City Council. <br />For Budget Year 2012, the HRA adopted a maximum levy of $368,549. For Payable 2013, the maximum <br />allowable levy is $328,567 (.0185% of total taxable market value of $1,776,037,837). <br />On September 11, 2012 the HRA adopted a preliminary levy in the amount of $187,268 to cover the basic operating <br />costs of the HRA and that any expenses related to the COR would need to be paid from future land sales. <br />A taxpayer home valued at $200,000 would be paying $21.09 towards the levy. The levy will be used for ongoing <br />costs associated with the basic operating costs of the HRA: designated personnel, general liability <br />and approximately $48,000 of maintenance costs related to the maintenance of the parking ramp. <br />Recommendation: <br />Adopt Resolution approving the final 2013 HRA levy in the amount of $187,268. <br />Funding Source: <br />The HRA budget is supported by the HRA tax levy. <br />Council Action: <br />Motion by Commissioner and seconded by Commissioner to adopt Resolution #HRA-12-XX authorizing <br />approval of the final 2013 HRA levy in the amount of $187,268. <br />Attachments <br />2013 Final HRA Levy <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 12/05/2012 03:15 PM <br />Form Started By: Diana Lund Started On: 11/29/2012 08:00 AM <br />Final Approval Date: 12/05/2012 <br />