Item Coversheet

Housing and Redevelopment Authority Board Action Request
19-HCHRA-0039

Item Description:
Set the 2020 HCHRA maximum property tax levy and the proposed 2020 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 2020 at $16,455,995 with a proposed budget of $19,987,355, 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 2020 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, December 3, 2019; and

 

BE IT FURTHER RESOLVED, that the adoption of the HCHRA’s final 2020 property tax levy and 2020 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 12, 2019 in the Hennepin County Board Room.

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 2020 by September 30, 2019.

 

The proposed 2020 HCHRA budget is $19,987,355 and the maximum tax levy is $16,455,995. 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 2020 HCHRA budget supports:

  • affordable housing activities, which include the Affordable Housing Incentive Fund, Natural Occurring Affordable Housing Investment Fund, and Supportive Housing capital program;

  • community and economic development activities, which include the Transit Oriented Development Program, CEO Next Institute, and Open to Business; and

  • operations and administrative activities