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<br />CASE #2 <br /> <br />TITLE: <br /> <br />ADOPT RESOLUTION APPROVING PROPOSED 2007 BRA LEVY <br /> <br />BY: <br /> <br />Diana Lund, Finance Officer <br /> <br />INTRODUCTION: <br /> <br />Each "taxing authority" must adopt a proposed budget for payable 2007 and certify its proposed <br />property tax levy for payable 2007 to the County Auditor by September 15. <br /> <br />DISCUSSION POINTS: <br /> <br />On March 5, 2005 the City Council established a Housing and Redevelopment Authority (HRA). <br />The bylaws state that the makeup of the HRA will be the Ramsey City Council. <br /> <br />In December 2005, the Ramsey HRA/City Council adopted the 2006 HRA budget and HRA levy <br />in the amount of $271,339. The levy was to be used to fund such expenses as personnel, <br />consulting services and property acquisitions. <br /> <br />For budget year 2007, the maximum BRA levy is again being requested. That amount would be <br />$312,443 which is the statutory maximum levy rate (.0144 of the City's total taxable market <br />value of $2,169,745,200) and would again be used to fund personnel, consulting and property <br />acquisitions. An example of the effect on a property taxpayer with a market value of $200,000 <br />would be $28.80. <br /> <br />ATTACHMENTS: <br /> <br />~ Proposed resolution to adopt proposed 2007 BRA levy. <br /> <br />STAFF RECOMMENDATION: <br /> <br />~ Adopt a resolution approving the proposed 2007 HRA levy in the amount of $312,443. <br /> <br />COMMISSION ACTION: <br /> <br />Motion by Commissioner and seconded by Commissioner to adopt <br />Resolution #BRA-06-08-XXX authorizing the approval of the proposed 2007 HRA levy in the <br />amount of$312,443. <br /> <br />REVIEW CHECKLIST: <br />City Administrator <br />HRA Executive Director <br /> <br />HRA: 08/22/06 <br />