7.2 HRSR 02-02-2015
Request for Action
To Item Number
Housing and Redevelopment Authority 7.2
Agenda Section Meeting Date Prepared by
General BusinessFebruary 2, 2015Jeremy Barnhart, Deputy Director, CODD
Item Description Reviewed by
Reading of Financial Condition
Reviewed by
Action Requested
N/A
Background/Discussion
The HRA Bylaws suggest that the Chair of the Housing and Redevelopment Authority read the financial
condition. The HRA approved the 2015 Budget & Resolution Establishing the HRA Tax Levy for
Collection in year 2014 at its regular meeting August 4, 2014. The HRA’s tax levy is .0144% of taxable
market value.
The City Council approved the HRA Budget & Levy September 2, 2014.
The HRA’s financial health is strong. Each year, money not used in the annual budget is transferred to
unallocated cash reserve. The unaudited balance of this account on December 31, 2014 was
$1,176,709.00. This money may be used to purchase buildings, land, redevelopment, creation of housing
financing programs and a variety of other uses.
The HRA has expressed an interest in being more aggressive in returning these funds to the community
in the form of redevelopment and assistance programs. Specific goals will be articulated in the strategic
plan.
Financial Impact
N/A
Attachments
N/A