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HRA Regular Session Meeting Date: 12/10/2013 By: Diana Lund, Finance 5. 4. Information Title: Adopt HRA Resolution #13-12-222 Approving Final 2013 HRA Levy & Adopt HRA Resolution #13-12-223 Adopting 2014 HRA Budget Purpose/Background: Purpose: Each taxing Authority must certify its final property tax levy for payable 2014 to the County Auditor by December 29, 2013 and adopt an annual budget to reflect the use of said levied funds. On March 5, 2005 the City Council established a Housing and Redevelopment Authority (HRA). The HRA bylaws state that the makeup of the HRA will be the Ramsey City Council. On September 10, 2013 the HRA adopted a preliminary levy in the amount of $207,802 (maximum allowable levy for 2014 payable is $334,260 and the final adopted 2013 HRA levy was $187,268). The majority of the levy will be used for personnel costs and the city's share of maintenance costs of the municipal parking ramp as outlined in the 2014 HRA Budget. The HRA budget does not include any funding for the COR area, which is to be funded via land sales, except for a percentage of time attributed to those staff members involved with marketing the COR. A taxpayer's home valued at $150,000 would pay $17.25 if the final proposed levy is adopted. Notification: The city had put in a request to the Anoka County HRA in regards to the use of HRA county funds to reduce the city's final HRA levy, but the County Board does not plan to meet and/or take any action on this item until January 2014. Observations/Alternatives: Option 1: Adopt Resolution #13-12-222 authorizing the 2014 HRA levy in the amount of $207,802 and Resolution #13-12-222 authorizing the 2014 HRA Budget in the amount of $207,802. Option 2: Adopt Resolution #13-12-222 authorizing the 2014 HRA levy and Resolution #13-12-222 authorizing the 2014 HRA budget with the following modifications: Option 3: Not Adopt Resolution #13-12-222 authorizing the 2014 HRA levy and rely on the possibility of the Anoka County HRA County funds, with no certainty that the County Board will pass approval. Funding Source: The HRA budget is supported by the HRA tax levy. Recommendation: Staff recommends Option #1 approving the final 2014 HRA levy and 2014 HRA budget in the amount of $207,802. Action: