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HRA Regular Session Date: 02/08/2011 By: Diana Lund Finance Title: Amend 2010 Housing & Redevelopment Authority Budget and Adopt 2011 Housing & Redevelopment Authority Budget Background: Attached for your review and consideration is the 2011 Housing & Redevelopment Authority (HRA) budget. This is the same budget that was presented at the time of the HRA Levy with adoption in September and the authorization by the HRA in December 2010 of COR Signs. 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 2010 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 2011. Recommendation: Approve attached Resolution #HRA -11 -02 -XXX Adopting the 2011 Housing & Redevelopment Authority Budget; And Approve attached Resolution #HRA -11 -02 -XXX Amending the 2010 Housing & Redevelopment Authority Budget. Funding Source: Budget is supported by the 2011 HRA property tax levy. Information Item #: 6. 1. Council Action: Motion to recommend HRA adopt Resolution #HRA -11 -02 -XXX Adopting the 2011 Housing & Redevelopment Authority Budget; And Motion to recommend HRA adopt Resolution #HRA -11 -02 -XXX Amending the 2010 Housing & Redevelopment Authority Budget. 2011 HRA Budget Resolution Adopt 2011 HRA Budget Resolution Amend 2010 HRA Budget Attachments Form Review Inbox Reviewed By Date Heidi Nelson Heidi Nelson 02/01/2011 12:49 PM