HomeMy WebLinkAboutIV. a Authorize 2012 HRA Levy and Review BudgetHASTINGS ECONOMIC DEVELOPMENT AND REDEVELOPMENT
AUTHORITY
DRAFT
Combined 2012BudgetSummary, 404 and 407 Accounts
Revenues
20112012Notes
HRA Levy 306,000294,631HRA: .0185% of TMV*
General Levy266,000179,251From Fund 407 –Includes Personnel and
services
Interest27,00027,000On HRA fund balance
2,9002,900On IP fund balance
Loan payments13,00013,000Installment loans w/interest
Rents12,50012,500Farm IP land –Will be rebid in Fall ‘11
Transfer 315,000283,254From fund balance
Total942,400759,254
Expenses
Personnel salary and 126,300118,39325% Community Development Director, 50%
benefitsCommunications Spec. (Estimated)
Administration 8,40010,005Memberships and dues, travel, office,
conferences, advertising, insurance, accounting.
Property expenses1,0003,000Maintenance and replacement
Professional services63,80057,000Consultants, experts, legal, costs & fees –
includes Hudson, Marketing, & analysis of
future sites
Rehabilitation 123,00085,000Loans, grants for owner rehabilitations and
code improvements
40,000 Residential loans
5,000 Res. emergency grants
40,000 Commercial loans
Redevelopment 300,000250,000Majority dedicated to Hudson Demolition &
(capital)Cleanup – including 50% of demo cost
($217,000)
Hudson debt service313,000235,856Actual debt service better than expected
Total expenses 935,500759,254Will be changed by final personnel number
*For the HRA levy this is the statutory maximum based on the 2012 Taxable Market
Program activities for 2012
Hudson Property remediation and demolition
Promote riverfront redevelopment
Facilitate commercial redevelopment projects in Downtown and Vermillion
project areas
Make commercial & residential rehabilitation and code improvement loans
Acquire obsolete and blighted property for redevelopment
Promote and assist commercial and industrial projects for job and tax base growth
Assist historic preservationprojects
Cooperate with local and commuter multi-modal transit projects
Fund Balances 7/7/11
404 Account (former HRA) Estimated 593,000
407 Account (former (IP) Estimated 255,000
Receivables
404 Account 210,753 note due from Guardian Angels
HASTINGS ECONOMIC DEVELOPMENT AND REDEVELOPMENT
AUTHORITY
Resolution No. 2011-05
August 11, 2011
AUTHORIZING THE LEVY OF A SPECIAL BENEFIT
TAX PURSUANT TO MINNESOTA STATUTES,
SECTION 469.033, SUBDIVISION 6, AND APPROVAL
OF A BUDGET FOR FISCAL YEAR 2012
Commissioner ________________ introduced the following resolution and moved its
adoption:
WHEREAS, the Hastings Economic Development and Redevelopment Authority
in and for the city of Hastings (the “Authority”) was created by the City Council of the
City of Hastings (the “City”) pursuant to Minnesota Statutes, Sections 469.090 to
469.1082, with all powers of a housing and redevelopment authority as set forth in the
Municipal Housing and Redevelopment Act, Minnesota Statutes, Sections 469.001 to
469.047 (formerly, Sections 462.411 to 462.711) (the “Act”); and
WHEREAS, Section 469.033, Subdivision 6, of the Act, as amended,permits the
Authority to levy and collect a special benefit tax of up to .0185 percent of taxable
market value in the City upon all taxable property, real and personal, within the City; and
WHEREAS, the Authority desires to levy such tax in the amount of .0185 percent
of taxable market value in the City; and
WHEREAS, the levy of such a special benefit tax is subject to the approval by
resolution of the City Council of the City; and
WHEREAS, the Authority is required pursuant to Section 469.033, Subdivision 6,
of the Act to, in connection with the levy of such a special benefit tax, formulate and file
a budget in accordance with the budget procedure of the City in the same manner as
required of executive departments of the City; and
WHEREAS, the Authority has before it for its consideration a copy of a budget
for its operations for the fiscal year 2012.
NOW, THEREFORE, be it resolved by the Board of Commissioners of the
Authority.
Section 1. The budget for the operations of the Authority presented for
consideration by the Authority is hereby in all respects approved.
Section 2. The Authority hereby authorizes and forwards said budget to the City
Council for its approval.
Section 3. There is hereby levied, subject to the approval of the City Council, a
special benefit tax pursuant to Minnesota Statutes, Section 469.033, Subdivision 6, in the
amount of .0185 percent of taxable market value within the City.
Section 4. The Authority hereby requests the approval by resolution of the City
Council of the City of Hastings of the special tax benefit so levied pursuant to this
Resolution and requests the City Council to take such other actions as are necessary to
levy and certify such tax.
Commissioner __________________ seconded the resolution and upon being put
to a vote it was adopted:
Ayes:
Nays:
Absent:
____________________________________
Ron Toppin, President
Attest:
__________________________________
John Hinzman, Executive Director