| | | | | | | | Housing and Redevelopment Authority Board Action Request
22-HCHRA-0039
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| | | | | | | | Item Description:
Set the 2023 HCHRA maximum property tax levy and proposed budget; participate in Hennepin County’s Truth-In-Taxation Hearing |
| | | | | | | | Resolution:
BE IT RESOLVED, that the Hennepin County Housing and Redevelopment Authority (HCHRA) Board of Commissioners sets the maximum property tax levy for year 2023 at $17,640,360 with a proposed budget of $19,262,447, and that the maximum property tax levy be certified to the County Auditor; and
BE IT FURTHER RESOLVED, that pursuant to Minnesota Statutes §275.065, Subd. 3(i), the proposed 2023 levy and budget for the HCHRA shall be discussed at Hennepin County’s Truth-In-Taxation Hearing to be held at 6:00 p.m. on Tuesday, November 29, 2022; and
BE IT FURTHER RESOLVED, that the adoption of the HCHRA’s final 2023 property tax levy and 2023 budget shall take place at the HCHRA Board Meeting immediately following the 1:30 p.m. Board of Hennepin County Commissioners Meeting to be held on Thursday, December 15, 2022. |
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| | | | | | | | Background:
History: The Hennepin County Housing and Redevelopment Authority (HCHRA) has the authority to levy and collect taxes in Hennepin County under Minn. Stat. §383B.77. Pursuant to state statute, the HCHRA must approve a maximum property tax levy and a proposed budget for 2023 by September 30, 2022.
The proposed 2023 HCHRA budget is $19,262,447 and the maximum tax levy is $17,640,360. While the final approved budget may be higher than the one proposed, the final tax levy adopted in December cannot exceed the proposed tax levy which is adopted today.
The proposed 2023 HCHRA budget supports:
- a full range of affordable housing opportunities, which include the Affordable Housing Incentive Fund, Supportive Housing capital program, and investments in homeownership and single-room occupancy;
- regional economic competitiveness, which include planning grants and the Business District Initiative, CEO Next Institute, and Open to Business;
- building the long-term value of communities, which include the Transit Oriented Development Program; and
- operations and administrative activities
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| | | | | | | | | Recommendation from County Administrator: Recommend Approval |
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