7.2 HRSR 02-03-2014 Elk Request for Action
River
To ' Item Number
Housing and Redevelopment Authority 7.2
Agenda Section Meeting Date Prepared by
General Business February 3,2014 Brian Beeman,Director of Economic
Development
Item Description Reviewed by
Reading of Financial Condition Jeremy Barnhart,Deputy Director, CODD
Reviewed by
Action Requested
N/A
Background/Discussion
The HRA Bylaws require that the Chair of the Housing and Redevelopment Authority read the financial
condition. The HRA approved the 2014 Budget&Resolution Establishing the HRA Tax Levy for
Collection in year 2014 at its regular meeting September 3, 2013. The City Council approved the HRA
Budget&Levy September 3, 2013. The HRA Strategic Plan and Budget Performance Measures were
discussed and reviewed at that time. The HRA's financial health is strong. Each year,money not used in
the annual budget is transferred to the cash reserve. Currently, the HRA has $924,313.64 in this fund.
This money can be used to purchase buildings,land,redevelopment, creation of housing financing
programs and a variety of other uses.
Financial Impact
N/A
Attachments
• N/A
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