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HRA Executive Director Nelson stated we do have some issues in our zoning code that affect this area. In the next month or so, we will have to deal with how we get that piece of zoning code revised. Case #2: Adopt Resolution Approving Proposed 2011 HRA Levy Finance Officer Lund stated that each taxing authority must adopt a proposed budget for payable 2011 and certify its proposed property tax levy for payable 2011 to the County Auditor by September 15. She noted that for budget year 2010, the HRA adopted a maximum levy of $410,124. For year 2011, staff is proposing a maximum levy of $368,549. A taxpayer home valued at $200,000 would be paying $37 toward the levy. Ms. Lund explained the majority of the levy would be used for ongoing costs associated with The COR project area. Annually, the levy has also been responsible for approximately $56,000 of maintenance costs related to the parking ramp maintenance agreement. Ms. Lund continued that due to the costs associated with The COR project, the proposed levy would not meet the proposed expenditures. It is proposed that the HRA will need to draw from the prior year fund balance and/or cash generated from future land sales to meet expenses. At year-end, 2010, it is estimated that the fund balance of the HRA will be $640,000, at year-end 2011, the fund balance is estimated at $453,000. Motion by Commissioner Ramsey and seconded by Commissioner Wise to adopt Resolution #HRA-10-08-006 Establishing an HRA Property Tax Levy Payable in 2011 under Minnesota Statutes Chapter 469. Motion carried. Voting Yes: Chairperson Dehen, Commissioners Ramsey, Wise, Elvig, Look, and McGlone. Voting No: None. Absent: Commissioners Jeffrey. Finance Officer Lund reported that the budget piece comes back in December. Ms. Nelson talked about the budgeting process and asked for some feedback to be able to bring the budget back in December. Discussion ensued relating to the budget. Commissioner Elvig expressed concern about the $12 million — RTC land. Mr. Ulrich stated that would be taken out of the final budget. Case #3: COR Project Signage Development Manager Lazan stated that currently, the only identification signage on The COR property is the sign at Sunwood and Ramsey and that is not in good condition. He talked about the importance of providing adequate contact information to potential buyers and residents. The development team would like to construct a number of informational signs and entry monuments on the project site which would dress up the corners of the property, provide relevant sale or leasing contact information, identify the entry points to the project, support the brand identity and promote the project, and welcome and promote new business/residential projects. The three categories of signs contemplated in the proposal are real estate signs, rehab pylons and new community pylons and described the plan for each. Housing and Redevelopment Authority / August 31, 2010 Page 6 of 10