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HRA Regular Session Meeting Date: 09/09/2014 By: Diana Lund, Finance 5. 3. Information Title: Adopt Resolution #HRA-14-09-185 Establishing a Housing & Redevelopment Authority (HRA) Levy for Payable 2015 in the Amount of $0 Due to the Formal Dissolution of the City of Ramsey's HRA Effective January 1, 2015 Purpose/Background: Purpose: Each taxing authority must certify its proposed property tax levy for payable 2015 to the County Auditor. Background: On March 5, 2005, the City Council established a Housing and Redevelopment Authority (HRA). The bylaws state that the makeup of the HRA will be the Ramsey City Council. As part of the city's current strategic plan under the strategic imperative: An Effective Organization, the City Council has made the recommendation to dissolve the HRA effective January 1, 2015. The current budget and levy of the HRA will be absorbed into the budgets and levies of the General Fund and Economic Development Authority (EDA) for years 2015 and forward. Due to the dissolution, the City will be levying a final HRA levy of $0 for payable 2015 and will make a formal report to Anoka County of such action. Observations/Alternatives: There are no alternatives. Per the City's Strategic Plan, the City Council is dissolving the City's HRA effective January 1, 2015, which removes the HRA budget and levy. The major criticism of the HRA levy has been that it is a separate levy that is outside of the City's tax capacity rate, and therefore is not a transparent indicator of all the City's expenses (i.e., a "hidden tax"). Operationally, the elimination of the HRA will focus economic development activity more upon the Economic Development Authority, as opposed to having two separate boards (outside of the Council) dealing with economic development. Funding Source: The current budget and levy of the HRA will be absorbed into the budgets and levies of the General Fund and Economic Development Authority (EDA) for years 2015 and forward. Recommendation: Adopt Resolution #HRA-14-09-185 Establishing an HRA levy for taxes payable 2015 in the amount of $0. Action: Motion by Commissioner and seconded by Commissioner to Adopt Resolution #HRA-14-09-185 authorizing the approval of the final HRA levy for taxes payable 2015 in the amount of $0.