6. HRSR 08-01-2005ITEM # 6.
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MEMORANDUM
TO: Housing & Redevelopment Authority
FROM: Heidi Steinmetz, Assistant Director of Economic Development
DATE: August I, 2005
SUBJECT: Consider Year 2006 HRA Budget and Resolution Regarding HRA Levy
Attachments
Budget Worksheet -Proposed 2006 HRA Revenue & Expenditures
Resolution establishing the HRA tax levy for collection in year 2006
Summary
The Economic Development Department consists of two separate budgets including:
• Economic Development Authority
• Housing & Redevelopment Authority
Since 2003, the EDA and HRA levies have been feasible to balance the Economic
Development Department without General Fund revenues. HRA revenues are estimated at
10% growth in market value for the year 2006. In addition, 2006 revenues include a transfer
in from TIF District 16 in the amount of $42,000 to repay the HRA for eligible expenditures
related to the King & Main TIF Project.
In 2004 the Personal Services costs (salaries and benefits) were adjusted from 70/30 percent
EDA and HRA respectively, to 60/40 percent due to staff time allotted to the Downtown
Revitalization Project. It is proposed that this continue in 2006.
Other common administrative expenses are proposed to be shared by the EDA and the
HRA. As in previous years, the HRA would make a one time transfer to the EDA in the
amount of $3,500 to cover approximately 37% of the shared expenses. The shared expenses
include the following items:
• Office supplies
• Fuels
• Telephone
• Travel, conference & schools
• Dues and subscriptions
Consider Ycar 2006 HRA Budget and Resolution Regarding H12A Levy
August 1, 2005 HRA Meeting
Page 2 of 2
Below is a line item analysis of the proposed year 2006 expenditures for the HRA:
• Personal Services $ 62,800
• Legal Fees (TIF, relocation, etc.) $ 10,000
• Other Professional Services $ 24,000
o Ehlers & Assoc. -Redevelopment Project Management
o BDM Consulting Engineers- Engineering Services
• Postage (construction notices, Q&A inserts) $ 1,000
• Publishing (Downtown project communications) $ 12,500
• Insurance $ 250
• Dues & Subscriptions $ 200
o MN National Assoc. of Housing & Redevelopment Officials
• Transfer out to General Fund (support staff, etc) $ 9,500
• Transfer out to EDA (approx. 37% shared expenses) 3 500
Total HRA Year 2005 Proposed Expenditures: $123,750
Total HRA Year 2005 Proposed Revenue: $264,950
The projected balance of $141,200 will be put into the HRA reserves for any future project
expenses.
Attached to this memo you will find a Resolution establishing the tax levy for the Elk River
HRA, which requests that the City Council levy such maximum amount for the authority for
the year 2006, as in previous years. The City must certify its proposed maximum levy,
including EDA and HRA levies, to Sherburne County annually in September.
Recommendation
Staff recommends that the HRA approve the year 2006 HRA Budget as presented, and
approve the attached Resolution establishing the HRA tax levy for collection in year 2006.
BUDGET WORKSHEET
PROPOSED 2006 BUDGET Page: 1
712812005
CITY OF ELK RIVER 9:51 am
Prior Current Year (6) (7) (8)
Year Original Amended Actual Thru Estimated
Mr 7/31/2005 Actual Budget Budget July Total Requested Recommended Adopted
.: 910 - HRA
Revenues
Dept: 000.000
Acct Class: 3100 General property taxes
3111 Current Ad Valorem Taxes 160,064 188,850 188,850 95,847 0 221,950 221,950
General property taxes 160,064 188,850 188,850 95,847 0 221,950 221,950 0
Acct Class: 3300 Intergovernmental revenue
3322 MV Credit 7,557 0 0 0 0
Intergovernmental revenue 7,557 0 0 0 0 0 0 0
Acct Class: 3620 Other revenue
3621 Interest Income 770 1,000 1,000 532 0 1,000 1,000
3625 Refunds & Reimbursements 159,297 0 0 135,964 0
3629 Miscellaneous Revenue 20,000 0 0 0 0
3910 Sale of EquiplAssets 0 0 0 0 0
Other revenue 180,067 1,000 1,000 136,496 0 1,000 1,000 0
Acct Class: 3920 Transfers in
3921 Transfers 0 0 0 0 0
3947 Transfer-TIF 0 42,000 42,000 21,768 0 42,000 42,000
Transfers in 0 42,000 42,000 21,768 0 42,000 42,000 0
Dept: 000.000 347,688 231,850 231,850 254,111 0 264,950 264,950 0
Total Revenues 347,688 231,850 231,850 254,111 0 264,950 264,950 0
Expenditures
Dept: 610.610 HOUSING & REDEVELOPMENT
Acct Class: 4100 Personal services
4101 Regular Pay 43,308 46,250 46,250 13,197 0 50,000 50,000
4102 Overtime Pay 58 0 0 0 0
4103 Part-time Pay 0 0 0 0 0
4104 PERA 2,425 2,550 2,550 8,177 0 3,000 3,000
4105 FICA 2,664 2,850 2,850 1,306 0 3,100 3,100
4107 Medicare 623 650 650 305 0 750 750
41081nsurance 4,663 4,800 4,800 1,612 0 4,950 4,950
4109 Workers Comp 183 150 150 891 0 1,000 1,000
Personal services 53,924 57,250 57,250 25,488 0 62,800 62,800 0
Acct Class: 4200 Supplies
4201 Office Supplies 0 0 0 22 0
Supplies 0 0 0 22 0 0 0 0
Acct Class: 4300 Other services & charges
4304 Legal Fees 66,180 12,000 12,000 9,985 0 10,000 10,000
4? 'ether Professional Services 66,101 60,000 60,000 43,772 0 24,000 24,000
43z ~ Telephone 0 0 0 0 0
4322 Postage 661 1,000 1,000 221 0 1,000
BUDGET WORKSHEET
PROPOSED 2006 BUDGET Page: 2
712812005
CITY OF ELK RIVER 9:51 am
Prior CurrentYear (6) (7) (8)
Year Original Amended Actual Thru Estimated
M' ~ 7/31/2005 Actual Budget Budget July Total Requested Recommended Adopted
J: 910 -HRA
Expenditures
Dept: 610.610 HOUSING 8 REDEVELOPMENT
Acct Class: 4300 Other services & charges
4331 Travel, Conferences & Schools
4349 Advertising/Marketing
4359 Publishing
4361 Insurance
4433 Dues & Subscriptions
4440 Miscellaneous
Other services & charges
Acct Class: 4500 Capital outlay
4510 Land
4530 Improvement Project Contract
Capital outlay
Acct Class: 4700 Transfers out
4720 Transfers
4721 Transfer-Generel Fund
4725 Transfer-Capital Outlay Reserv
47~F Transfer-EDA
Transfers out
HOUSING & REDEVELOPMENT
Total Expenditures
HRA
15 0 0 16
0 0 0 629
3,227 8,200 8,200 2,075
192 250 250 0
0 200 200 0
0 0 0 55,465
136,376 81,650 81,650 112,163
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
8,700 9,500 9,500 9,500
2,912 0 0 0
3,500 3,500 3,500 3,500
15,112 13,000 13,000 13,000
205, 412 151, 900 151, 900 150, 673
2~j, 412 151, 900 151, 900 150 , 673
142,276 79,950 79,950 103,438
0
0
0 12,500
0 250
o zoo
0
0 46,950
12,500
250
200
47,950
0
0
0 0 0
0
0 9,500
0
0 3,500
0 13,000
0 122,750
0 122,750
9,500
3,500
13,000
123,750
123,750
0 142,200
141,200
0
0
0
0
0
0
RESOLUTION 05-
A RESOLUTION OF THE ELK RIVER
HOUSING AND REDEVELOPMENT AUTHORITY
A RESOLUTION ESTABLISHING THE TAX LEVY FOR THE ELK RIVER
HOUSING AND REDEVELOPMENT AUTHORITY FOR COLLECTION IN
2006
WHEREAS, Minnesota Statute Section 469.033, Subdivision 6, authorizes a Housing and
Redevelopment Authority to levy an amount not to exceed .0131 percent of the
taxable market value of property within the city to be used for housing and
redevelopment purposes; and,
WHEREAS, the Elk River Housing and Redevelopment Authority anticipates expenditures in
2006 for various housing and redevelopment activities; and,
WHEREAS, the Housing and Redevelopment Authority will adopt and approve its budget before
a special tax can be levied.
NOW, THEREFORE, BE IT RESOLVED that the Housing and Redevelopment Authority
requests that the City Council of the City of Elk River, Minnesota, levy a special tax not to exceed
the statutory limit of .0131 percent of taxable market value of the city for the benefit of the
Authority to be used for purposes as provided in Minnesota Statutes.
Passed and adopted by the Elk River Housing and Redevelopment Authority this 1" day of
August, 2005.
Stewart Wilson, Chair
ATTEST:
Heidi Steinmetz, Interim Executive Director
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