7.5 HRSR 02-03-2014 El .... Request for Action
River
To Item Number
Housing and Redevelopment Authority 7.5
Agenda Section Meeting Date Prepared by
General Business February 3,2014 Brian Beeman,Director of Economic
Development
Item Description Reviewed by
Discussion of Modifications/Amendments to the Jeremy Barnhart, Deputy Director, CODD
"Municipal Housing and Redevelopment Act" Reviewed by
Action Requested
N/A
Background/Discussion
The HRA Bylaws require that the Housing and Redevelopment Authority discuss any modifications or
amendments to the "Municipal Housing and Redevelopment Act". The attorney's memo is attached.
Staff will review this report with the HRA at the Annual Meeting.
Financial Impact
N/A
Attachments
• Attorney memo dated December 27, 2013
rOIEa1 $ i'
NATURE
MEMORANDUM
TO: Elk River HRA Chair and Commissioners
FROM: Andrea McDowell Poehler
DATE: Friday, December 27, 2013
RE: Amendments to Municipal Housing and Redevelopment Act
Background
The bylaws for the HRA require an annual update of legislative changes to the Municipal
Housing and Redevelopment Act, Minn. Stat. § 469.001 to § 469.047. There were no significant
legislative changes to the Housing and Redevelopment Authority Act. Only two changes were
adopted this past legislative session:
• Minn. Stat. § 469.033, subd. 6 was amended to convert the levy limit for housing and
redevelopment authorities from 0.0185 percent of taxable market value to the same
percentage of estimated market value. This amendment took effect on May 24, 2013.
• Minn. Stat. § 469.034, subd. 2 was amended to convert the limit on the issuance of
general obligation HRA bonds from 0.5 percent of taxable market value to the same
percentage of estimated market value. This amendment took effect on May 24, 2013.