08-14-24 HRA Work Session Agenda August 14, 2024 — 6:30 PM
Golden Valley City Hall
Hybrid Meeting
1.Discussion of Proposed 2025 HRA Budget & Levy
HRA WORK SESSION AGENDA
Housing and Redevelopment Authority Work Sessions are being conducted in a hybrid format with in-
person and remote options for attending.
Remote Attendance: Members of the public may attend this meeting by streaming via Webex, or by
calling 1-415-655-0001 and entering access code 2631 251 5767 and webinar password
1234. Additional information about attending electronic meetings is available on the City website .
Discussion Item(s)
HRA Work Session meetings have an informal, discussion-style format and are designed for the HRA to
obtain background information, consider policy alternatives, and provide general directions to staff.
No formal actions are taken at these meetings. The public is invited to attend HRA Work Session
meetings and listen to the discussion; public participation is allowed by invitation of the HRA.
City of Golden Valley HRA Work Session August 14, 2024 — 6:30 PM
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EXECUTIVE SUMMARY
Finance
763-512-2345 / 763-512-2344 (fax)
Golden Valley Housing and Redevelopment Authority Work Session
August 14, 2024
Agenda Item
1. Discussion of Proposed 2025 HRA Budget & Levy
Prepared By
Lyle Hodges, Finance Director
Summary
Discussion of the 2025 HRA Budget and proposed levy.
Financial or Budget Considerations
The HRA 2025 Proposed Budget is $341,166 for operations. The HRA is proposing a levy of $346,166
due to the fiscal disparities and delinquencies that will reduce the actual taxes received by the HRA.
Tax receipts arrive in July and December of each year.
Legal Considerations
MN Statutes Sections 469.001 to 469.047 grants the HRA the power to levy and collect taxes subject to
a resolution of consent from the Golden Valley Council.
Equity Considerations
The proposed budget strives to advance the equity goals of the City by funding housing programs, and
services that provide opportunities and resources for all. The process for adoption includes the ability
for any member of the public to provide feedback.
Supporting Documents
2025 HRA Levy & Budget.pdf
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2025 HRA Budget and Tax LevyHRA Work SessionAugust 14, 20243
2024 ScheduleReview at August 14 Council Manager MeetingSeptember 17-HRA & Council MeetingProposed HRA Tax Levy and Budget (Amount Approved will go on notice for November as Other Levies)City Council approves consent to the HRA budget and HRA levyDecember 3-HRA Meeting-Adopt HRA budget and levyDecember 3-Council Meeting Property Tax Hearing-Adoption (Both City and HRA)4
HRA Housing Budget ExpendituresDIVISION: Housing and Economic Development (016) PROGRAM: Housing (9190) 2022 2023 2023 2024 202520252026OBJECT DESCRIPTION ACTUAL BUDGET ACTUAL BUDGET CONCEPTPROPOSEDConceptPersonal Services6110 Salaries-Regular Employees 132,223 129,920 124,612 134,265 138,280 149,407 161,430 6150 Employee Insurance 33,666 35,050 24,879 34,235 34,570 38,027 41,830 6160 Retirement 17,082 20,785 17,699 21,480 22,125 23,231 24,393 TOTAL Personal Services 182,971 185,755 167,190 189,980 194,975 210,666 227,653 Supplies and Services6320 Operating Supplies 7 500 305 500 500 300 300 6340 Professional Services 8,456 49,245 39,886 85,000 140,000 118,700 154,000 6344 Use of Personal Auto - 500 - 500 300 300 300 6411 Conferences and Schools 1,073 3,000 48 3,000 3,500 5,900 3,400 6413 Dues and Subscriptions 545 2,000 215 5,900 5,900 5,300 5,300 TOTAL Supplies and Services 10,081 55,245 40,454 94,900 150,200 130,500 163,300 TOTALS 193,052 241,000 207,644 284,880 345,175 341,166 390,953 Golden Valley Housing and Redevelopment Authority2025 - 2026 OPERATING BUDGET5
2025 Budget NotesOne Employee (Housing and Economic Development Manager)COLA is at 3%Professional ServicesIncreased $33,700 from 2024 BudgetAffordable Housing Trust Fund $10,000Marketing Development Materials $7,500Business Retention & Expansion Program (BR&E) $15,000Conferences and SchoolsIncreased $2,400Updating costs for various conferences to represent true costAdding software training for Accela $500TOTAL Tax Levy Increase $57,2866
New BusinessPublic Comment and Adoption of Proposed 2025 Budget and 2025 Proposed Levy Payable in 2025 for a Housing Program.Future discussion by HRA Director Costello on the Local Affordable Housing Aid. This funding will be programmed into the 2025 and future budgets on spending that complies with state statute. 7