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08-12-1991 HR MIN • MEETING OF THE ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL MONDAY, AUGUST 12, 1991 Members Present: Chairman, Dick Hinkle; Commissioners Kropuenske and Schuldt Members Absent: Commissioners Toth and Duitsman Staff Present: Lori Johnson, Finance Director; Bill Rubin, Economic Development Coordinator; Sandra Thackeray, City Clerk 1. Call Meeting To Order Pursuant to due call and notice thereof, the meeting of the Elk River Housing and Redevelopment Authority was called to order by Chairman Hinkle at 6:15 p.m. 2. Consider 8/12/91 HRA Agenda COMMISSIONER SCHULDT MOVED TO ACCEPT THE 8/12/91 HRA AGENDA. COMMISSIONER KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 3-0. • 3. Consider 1/8/91 HRA Minutes COMMISSIONER KROPUENSKE MOVED TO APPROVE THE JANUARY 8, 1991 HRA MINUTES. COMMISSIONER SCHULDT SECONDED THE MOTION. THE MOTION CARRIED 3-0. 4. Review TIF Policy Revisions Bill Rubin, Economic Development Coordinator, indicated that City staff and the Economic Development Authority have made several revisions to the existing Tax Increment Financing policy. Bill Rubin explained that in the future, the HRA may undertake TIF projects and that it would be appropriate for the Commissioners to review the TIF policy. The HRA discussed the TIF policy and the changes proposed by the EDA. COMMISSIONER KROPUENSKE MOVED TO APPROVE THE TAX INCREMENT FINANCING POLICY FOR THE .CITY OF ELK RIVER. COMMISSIONER SCHULDT SECONDED THE MOTION. THE MOTION CARRIED 3-0. 5. Consider 1992 HRA Budget Bill Rubin reviewed the 1992 proposed HRA Budget. He stated that the proposed budget amount for 1992 is $29,500, leaving a total available expenditures in 1992 of $91,500. • COMMISSIONER SCHULDT MOVED TO ADOPT HRA RESOLUTION 91-1, A RESOLUTION APPROVING THE CITY OF ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY BUDGET FOR 1992 IN THE AMOUNT OF $29,500. COMMISSIONER KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 3-0. Housing and Redevelopment Authority Minutes Page 2 August 12, 1991 • 6. Consider 1992 HRA Tax Levy Finance Director, Lori Johnson, explained that due to a law change, the HRA is limited to an increase in special taxing districts for nondebt purposes of not more than 3% in 1992. Lori Johnson indicated that because of this law change, the most the HRA can receive through its 1992 tax levy is $29,572. Lori Johnson further explained that the HRA must certify its proposed tax levy to the County Auditor before September 1, and the final property tax levy payable in 1992 must be certified by December 27. The HRA can avoid the second step in the process by acknowledging that the levy resolution proposed for passage is both the proposed and maximum levy. COMMISSIONER KROPUENSKE MOVED TO ADOPT RESOLUTION 91-2, A RESOLUTION ESTABLISHING THE TAX LEVY FOR THE ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY FOR COLLECTION IN 1992 WITH THE STIPULATION THAT THE RESOLUTION IS BOTH THE PROPOSED AND MAXIMUM LEVY FOR 1992. COMMISSIONER SCHULDT SECONDED THE MOTION. THE MOTION CARRIED 3-0. 7. Other Business Bill Rubin informed the HRA that Dick Hinkle, Carol Mills, Executive Secretary of the Guardian Angels Foundation and himself, attended a meeting with the Director of the Washington County HRA. He indicated • that at the meeting they learned about the operation of the Washington County HRA and stated that their HRA has acquired distressed properties, played as land developer, platted its own single family subdivision and has sold bonds to create mortgages for first time homebuyers. He indicated that the Washington County HRA is a very active agency. Commissioner Kropuenske stated that in the past the HRA has allotted a smaller amount of funds for smaller projects or portions of projects and indicated he would like to see the funds build up so that the HRA can work towards a larger project. 8. Adjournment There being no further business, COMMISSIONER KROPUENSKE MOVED TO ADJOURN THE HRA MEETING. COMMISSIONER SCHULDT SECONDED THE MOTION. THE MOTION CARRIED 3-0. The meeting of the Elk River Housing and Redevelopment Authority adjourned at 6:50 p.m. Respectfully submitted, Sandra Thackeray / 11111 City Clerk