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08-29-1988 HR MIN MEETING OF THE HOUSING AND REDEVELOPMENT AUTHORITY HELD AUGUST 29, 1988 ELK RIVER CITY HALL CONFERENCE ROOM IIIIII Members Present: Chair, Estelle Gunkel, Larry Toth, Dick Hinkle,Duane Kropuenske Member Absent: Hank Duitsman Others Present: Lori Johnson, Finance Director, Patrick Klaers, City Administrator 1. Pursuant to due call and notice thereof, the meeting of the Elk River Housing and Redevelopment Authority was called to order by Chair Gunkel. 2. Consideration of HRA Agenda COMMISSIONER TOTH MOVED TO APPROVE THE 8/29/88 HRA AGENDA. COMMISSIONER HINKLE SECONDED THE MOTION. THE MOTION CARRIED 4-0. 3. Consideration of March 14, 1988 HRA Minutes COMMISSIONER KROPUENSKE MOVED TO APPROVE THE 3/14/88 MINUTES AS SUBMITTED. COMMISSIONER TOTH SECONDED THE MOTION. THE MOTION CARRIED 4-0. 4. Update on 1988 HRA Financial Status • Finance Director, Lori Johnson, reviewed her memo to the HRA that discussed the financial status of the HRA as of August, 1988. Ms. Johnson indicated that the HRA currently has a fund balance of $22,873.95. Additionally, it is anticipated that approximately $8,500.00 will be received in the later part of 1988. Ms. Johnson also noted that the HRA has been receiving the Economic Development Authority (EDA) funds until the EDA had set up its bank account. The establishment of the EDA bank account has taken place and it would now be appropriate for the HRA to transfer out of its fund the EDA monies. The amount that needs to be transferred out is $17,392.76. COMMISSIONER HINKLE MOVED TO TRANSFER $17,392.76 FROM THE HRA ACCOUNT TO THE EDA ACCOUNT. COMMISSIONER TOTH SECONDED THE MOTION. THE MOTION CARRIED 4-0. 5. 1988 HRA Expenditures The City Administrator reviewed with the HRA the 3/14/88 HRA minutes where action was taken for the expenditure of HRA funds when monies became available. The HRA concurred that the spending of $10,000.00 for the downtown lighting redevelopment project and the spending of $10,000.00 for the completion of the City Growth Management Plan were appropriate expenditures and requested the Finance Director to make those financial transactions. • Page 2 Housing and Redevelopment Authority Minutes August 29, 1988 • The City Administrator requested that instead of the $10,000.00 going to the City General Fund for an Economic Development Marketing Plan, that the HRA make a slight adjustment from the 3/14/88 action and transfer those monies directly to the EDA. COMMISSIONER KROPUENSKE MOVED TO TRANSFER $10,000.00 OF HRA MONIES TO THE EDA FOR THE IMPLEMENTATION OF AN ECONOMIC DEVELOPMENT MARKETING PLAN. COMMISSIONER HINKLE SECONDED THE MOTION. THE MOTION CARRIED 4-0. The Finance Director reminded the HRA that these funds in their entirety are not available, but once they did become available later in 1988 that she would make the above transaction. Commissioner Toth left at this time (6:15 p.m.) 6. Consideration of 1989 HRA Budget Finance Director indicated that past practice of the HRA is to request the City Council to levy 1/3 of a mill for the purpose of Housing and Redevelopment activities. In 1989, this 1/3 mill, plus interest, will generate approximately $18,100.00. The 1988 HRA year end fund balance is • anticipated to be very close to zero, so therefore, the proposed 1989 HRA Budget calls for expenditures in the amount of $18,100.00. The proposed budget for the HRA in 1989 lists $16,000 for redevelopment activities and $2,100 for placement into reserves for future projects. COMMISSIONER KROPUENSKE MOVED TO ADOPT RESOLUTION 88-1, A RESOLUTION APPROVING THE CITY OF ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY BUDGET FOR 1989. COMMISSIONER HINKLE SECONDED THE MOTION. THE MOTION CARRIED 3- 0. 7. Consideration of 1989 Tax Levy for HRA Purposes The Finance Director indicated that in order for funds to be generated for HRA purposes, the City Council must levy 1/3 mill for housing and redevelopment activities. In order for this to happen, the HRA must adopt a resolution which requests the City Council to levy these funds. COMMISSIONER HINKLE MOVED TO ADOPT RESOLUTION 88-2, A RESOLUTION ESTABLISHING THE TAX LEVY FOR THE ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY FOR COLLECTION IN 1989. COMMISSIONER KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 3-0. 8. Other Business Chair Gunkel updated the HRA on economic development activities that are happening with the EDA. Ms. Gunkel discussed the presentation before the • EDA by Economic Development Consultant, Mike Mulrooney, the status of the Alltool new construction project, the future economic development survey, Page 3 Housing and Redevelopment Authority Minutes August 29, 1988 • and redevelopment activities that are being discussed in the central business district in relationship to the recent fire at the hardware and dentist office. COMMISSIONER KROPUENSKE MOVED TO ADJOURN THE ERA MEETING. COMMISSIONER HINKLE SECONDED THE MOTION. THE MOTION CARRIED 3-0. The 8/29/88 HRA meeting was adjourned at approximately 6:45 p.m. Patrick D. Klaers City Administrator • •