08-31-1987 HR MIN HOUSING AND REDEVELOPMENT AUTHORITY MINUTES
AUGUST 31, 1987
ELK RIVER CITY HALL
. The meeting was called to order at 6:00 p.m. on August 31, 1987, at Elk River
City Hall by Chairperson, Estelle Gunkel.
Members present: Estelle Gunkel, Larry Toth, Hank Duitsman, and Dick Hinkle.
Members Absent: Duane Kropuenske.
Others Present: Lori Johnson, Finance Director; Pat Klaers, City
Administrator
The purpose of the HRA meeting on August 31, 1987, was for the adoption of a
resolution establishing the 1988 City Budget; the adoption of a resolution
requesting the City Council to levy 1/3 mill for the purpose of HRA
activities; and for authorization to spend 1987 budgeted funds on the Growth
Management Plan. Ms. Johnson presented a financial report to the HRA which
indicated the 8/31/87 fund balance. This balance at the end of August was
$10,623.79. Additionally, the HRA can anticipate receiving $7,550 for the
second half of 1987 based on interest income, tax settlement, and local
government aid. Ms. Johnson further indicated that the 1/3 mill levy for
1988 would generate approximately $16,500 plus interest income. HRA
members discussed the current growth management plan; the City's economic
development consulting, staffing and marketing needs; and the budget
constraints upon the City's General Fund.
COMMISSIONER TOTH MOVED THAT THE HRA PAY THE CITY $5,000 FOR EXPENSES
RELATED TO THE GROWTH MANAGEMENT PLAN AS THIS EXPENSE WAS LISTED IN THE
APPROVED 1987 HRA BUDGET. COMMISSIONER HINKLE SECONDED THE MOTION. THE
MOTION PASSED 4-0.
Discussion between the HRA Members continued on financing of projects from the
1988 HRA budget. Staff was directed to contact the City Attorney to determine
if HRA funds can be used to finance some of the reconstruction improvements
that will take place in 1988 in the Main Street Improvement Project. HRA
consensus for the 1988 HRA budget was as follows:
Beginning cash balance:approximately $13,000.
1988 revenues including interest:approximately $17,000
Total revenues available for 1988 expenditures: approximately $30,000
1988 expenditures, $5,000 for Growth Management Plan, $15,000 for
Economic Development Marketing Plan, $10,000 for reserves.
The above consensus budget of the HRA calls for $10,000 to remain in reserves
for unexpected expenses that merit consideration by the HRA throughout 1988.
COMMISSIONER HINKLE MOVED TO ADOPT RESOLUTION 87-1, A RESOLUTION APPROVING THE
CITY OF ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY BUDGET FOR 1988.
COMMISSIONER DUITSMAN SECONDED THE MOTION. THE MOTION PASSED 4-0.
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HRA Minutes
August 31, 1987
• COMMISSIONER DUITSMAN MOVED TO ADOPT RESOLUTION 87-2, A RESOLUTION
ESTABLISHING THE TAX LEVY FOR THE ELK RIVER HOUSING AND REDEVELOPMENT
AUTHORITY FOR COLLECTION IN 1988. COMMISSIONER TOTH SECONDED THE MOTION. THE
MOTION PASSED 4-0.
COMMISSIONER DUITSMAN MOVED TO ADJOURN THE HRA MEETING. COMMISSIONER HINKLE
SECONDED THE MOTION. THE MOTION PASSED 4-0.
The 8/31/87 HRA Meeting was adjourned at 6:30 p.m.
Patrick D. Klaers
Recording Secretary