| | | | | | | | Housing and Redevelopment Authority Board Action Request
19-HCHRA-0054
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| | | | | | | | Item Description:
2020 Hennepin County Housing and Redevelopment Authority levy and budget |
| | | | | | | | Resolution:
BE IT RESOLVED, that Hennepin County Housing and Redevelopment Authority Board of Commissioners adopts a final tax levy of $16,455,995 for general operating purposes; and
BE IT FURTHER RESOLVED, that the 2020 budget, attached, be approved at $22,516,355.
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| | | | | | | | Background:
History: On September 24, 2019, the Hennepin County Housing and Redevelopment Authority (HCHRA) Board of Commissioners set the HCHRA’s maximum levy for 2020 at $16,455,995 with a budget of $19,987,355 (Resolution 19-HCHRA-0039).
Staff recommends increasing the proposed budget by $2,529,000 reflecting the sale of the property associated with the Lake and Hiawatha Redevelopment project (Resolution 19-HCHRA-0045), resulting in a new 2020 budget of $22,516,355 (no impact to levy).
The 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 Transit Oriented Development Program, CEO Next Institute, and Open to Business; and
- Operations and Administrative activities.
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