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Home My WebLink About1995 12-18 HRAP HRA AGENDA • CITY OF BROOKLYN CENTER DECEMBER 18, 1995 7 p.m. 1. Call to Order 7 � PM 2. Roll Call C d , t DTT 3. Commission Consideration Items: a. Resolution Approving the Final Brooklyn Center Housing and Redevelopment S o `� Authority Budget for the Year 1996 Pursuant to MSA Chapter 469.033, Subdivision T 6 and MSA Chapter 469.107, Subdivision 1 /C/tl off N � �f S b. Resolution Establishing the Final Tax Levy for the Brooklyn Center - Housing and 9 s Redevelopment Authority for the Year 1996 4. Adjournment Council Meeting Date 12 -18 -95 City of Brooklyn Center Agenda Item Number 3 GLoff. b Description: Item Descri P Request For Council Consideration S Resolutions for Adoption of the 1996 Housing and Redevelopment Authority Budget. Department Approval: Charlie Hansen, Finan irector Manager's Review /Recommendation: No comments to supplement this report Comments below/attached PP P Recommended City Council Action: Passage of the attached resolutions. Summary Explanation: (supporting documentation attached YES ) Attached are two resolutions. The first adopts a budget for the Housing and Redevelopment Authority • for the year 1996. The budget anticipates revenues of $136,981 from property taxes and homestead credits. It approves a transfer of these moneys to the Economic Development Authority, because spending all the money from the E.D.A. streamlines administration and the E.D.A. has more latitude in running programs than the H.R.A. The second resolution sets the tax levy for 1996. There is still a "levy limit" on the H.R.A.'s tax levy and this resolution sets the levy at this limit. It also request the consent of the City Council since that approval is required by state law to actually certify the levy to the county. • Q� • Member introduced the following resolution and moved its adoption: HRA RESOLUTION NO. RESOLUTION APPROVING THE FINAL BROOKLYN CENTER HOUSING AND REDEVELOPMENT AUTHORITY BUDGET FOR THE YEAR 1996 PURSUANT TO MSA CHAPTER 469.033, SUBDIVISION 6 AND MSA CHAPTER 469.107, SUBDIVISION 1 WHEREAS, the Brooklyn Center Housing and Redevelopment Authority has considered the attached final budget and finds that this budget is necessary for the operation of the Brooklyn Center Housing and Redevelopment Authority during the year 1996. NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment Authority for the City of Brooklyn Center that the final budget of the Housing and Redevelopment Authority for said City is hereby approved and shall be: ESTIMATED REVENUES: $136,981 TRANSFERS TO THE E.D.A. FUND: $136,981 BE IT FURTHER RESOLVED that a copy of this resolution, together with the attached final budget, be submitted to the City Council of Brooklyn Center. Date Chairman The motion for the adoption of the foregoing resolution was duly seconded by member and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same: whereupon said resolution was declared duly passed and adopted. i 3.b • Member introduced the following resolution and moved its adoption: HRA RESOLUTION NO. RESOLUTION ESTABLISHING THE FINAL TAX LEVY FOR THE BROOKLYN CENTER HOUSING AND REDEVELOPMENT AUTHORITY FOR THE YEAR 1996 WHEREAS, Minnesota statutes require certification of a final tax levy on or before December 28, 1995. NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment Authority of the City of Brooklyn Center as follows: Section 1: That there be and hereby is levied a property tax for the Housing and Redevelopment Authority, for the year 1996, at the rate of 0.0131 % of taxable market value of all taxable property, real and personal, situated within the corporate limits of the City of Brooklyn Center, Minnesota and not exempted by the Constitution of the State of Minnesota or the valid laws of the State of Minnesota, for the purpose of establishing an H.R.A. Fund and conducting the operation of a H.R.A. pursuant to the provisions of MSA 469.001 through 469.047. • Section 2: That there be and hereby s levied an additional roe tax for Y property rtY the Housing and Redevelopment Authority, for the year 1996, at the rate of 0.0013 % of taxable market value of all taxable property, real and personal, situated within the corporate limits of the City of Brooklyn Center, Minnesota and not exempted by the Constitution of the State of Minnesota or the valid laws of the State of Minnesota, for the purpose of defraying costs of providing informational service and relocation assistance as authorized by MSA 469.033, Subdivision 6. Section 3: That the consent resolution by the City Council of the City of Brooklyn Center to this special tax for the operation of the Housing and Redevelopment Authority be attached to this resolution and made part of it. Date Chairman The motion for the adoption of the foregoing resolution was duly seconded by member and upon vote being taken thereon, the following voted in favor thereof: • and the following voted against the same: whereupon said resolution was declared duly passed and adopted. HOUSING AND REDEVELOPMENT AUTHORITY 1996 Budget POLICIES: + Collect and distribute tax revenues in an efficient and responsible manner. + Estimate property tax revenue by an objective conservative analytical process. The purpose of this budget is to provide a source of funding for the Economic Development Authority Special Operating fund's activities. All revenues collected by the H.R.A. are transfered to the E.D.A. Special Operating Fund when collected. Actual Actual Adopted D Manager p Department Mana P 9 Budget 1993 1994 1995 Requested Recommend REVENUES: • Property taxes $121,682 $115,103 $122,340 $123,336 $123,336 Less: 3% Uncollectable ($3,670) ($3,700) ($3,700) Net Property Taxes $121,682 $115,103 $118,670 $119,636 $119,636 Homestead Credit Revenue 16,304 17,835 18,304 17,424 17,345 Total $137,986 $132,938 $136,974 $137,060 $136,981 EXPENDITURES: Transfer to E.D.A. Fund $137,986 $132,938 $136,974 $137,060 $136,981 Total $137,986 $132,938 $136,974 $137,060 $136,981 COMMENTS: Based on 1994 tax collections, we estimate that 3% of the current year tax levy will be delinquent. Therefore, the provision for uncollected property taxes increased from 2% to 3% for 1995 and stayed at 3% for 1996. •