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255982 . 1 ORI61N!�L TO CITY CL6RK , ���982` � CITY OF ST. PAUL FI�E NC�� NO. , OFFICE OF THE CITY CLERK COUN R LUT N E ERAL FORM PR�ENTED BY COMMISSIONE � ATF RESOLVED� BY THE COUNCIL OF THE CITY OF SAINT PAULr Tha.t the budget of the Housing and Redevelopment Authority of the City of Saint Paul� Minnesota� for the calendar year 1972� ha.ving been heretofore filed by said Authority with the Comptroller of said City� in accordance with the budget procedures of said City, applicable thereto, the particulars of said budget of said Authority being the following: (Item 1) Budget requirement for the fiscal year 1972 for accumu.lation in the redevelopment project fund for the eventua.l repayment of Federal advance is the one mi.11 limit authorized by law. . . .$300�000.00 (Item 2) Budget requirement for relocation service for the fiscal year 1972 is the one-tenth mill limit authorized by law. . . . . . . . . . . . . . . . . . . . . . .$ 30,000.00 is hereby in all things approved; and be it FURTHER RESOLVEDr That there be and is hereby levied for the support of the said Housing and Redevelopment Authority of the City of Saint Paul� Minnesota� on all property taxa.ble therefor:� in said City� a tax� collectible in 1972� sufficient to produce the amount specified under Items 1 and 2 above� but in no event to exceed the mill limitations as provided in law and as specified in Items 1 and 2 above; and be it FINALLY RESOLVED� That the City Clerk is directed to certify a copy of the tax levy as aforesaid, collectible in 1972 to the County Auditor of Ra.msey County immediately upon adoption and approval of this resolution. � FORM R�V�D; As�t rati Counsel COUNCILMEN Adopted the Council—j��T � 8 19��— Yeas Naye sut�er OCT , 8197� �a�se�-_ ��-u ��-F-�_ AP 19`. "'�-�� Levine Favor Meredith Sprafka � Mayor A gainst Tedesco Mr. President, McCarty ��Y 1 6 �97� PUBLISHED _ _ �� �.. , ' , ' � � OFFICE OF TH COMPTROLLER �. ������ SAINT PAUL MINNESOTA 55102 ALL ■■■ CLEMENS J. SCHLECK •" ROBERT W. TRUDEAU Chief Accountant Asst. Chief Accountant Comptroller Deputy Comptroller September 30, 1971 Honorable Mayor - President and Members of the City Council I submit herewith the Tax Levy Fund Budgets of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota Statutes 462.545 reads in part as follows: "Subject to the consent by resolution, of the governing body of the municipality in and for which it (Redevelopment Authority) was created, an authority is authorized to levy in each year a special tax upon all property, both real and personal, within the taxing district". This law further provides that the Authority shall submit its budgets to the Comptroller at the same time as other budgets are submitted and he, the Comptroller, shall submit said budget to the City Council at the same time the City Budget is submitted. The budgets of the Housing and Redevelopment Authority as sub- mitted to me (copy attached) includes the following requests: Redevelopment Tax Levy F'und for 1972, $300,000.00. This is the estimated amount the statutory one mill limit is anticipated to produce during 1972. Relocation Tax Levy Fund for 1972, $30,000.00. This is the estimated amount the statutory one-tenth mill limit is anticipated to produce during 1972. Respectfully submitted, , ` /^ G� Y�c C emens J.: chleck Chief Accountant - Comptroller Encl. (1) ��Y. �;�, �� �:_.: �� \ �` � �_�' � , / , HOU��ING AND REDEUELOPMENTAUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA . , `r� . . � � . . . . . . . .� � . .. . . . y . � r� . � � �• . � � . ' - � . . . . � . . � . . ... . . � � . ' - � � � . . � . i' . . . . . . . . .. . . . � . . ��:I � . . . . . . � . . � . - . � �� . '. � � .. . . � � . . .� . ' . i ' EPORT TO THE CQMMiSSiOiJERS D�1TE Au�st 'lo, 19�1 EGA���NG Consideration of the One Mill Redevelopment Tax Levy Fund and the One-Tenth Relacation Tax Levy , � ou will have for consideration in your meeting of August 11, a resolution for the approval of a one mill tax levy for redevelopment and a one-tenth mill tax for ; re7.ocation for the year 1971. These levies are authorized by State enabling legislation. 1. REDEVELOPMENT TAX LEVY We estimate the one mill tax levy for renewal will yield approximately $300,000 after it is adjusted upward to take advantage of legislation enacted to compensate governmenta]. - units which haee a millage l.imi�ation for losses of revenue because of various tax _ . - changes (i.e. , money and credits tax, ho �T^.-_ _. _ _ usehold personal property, business personal groperty, etc.) � i � EXHIBIT A is entitled Tax Levy Fund - Redevelopment 1971 - Actual and Estimated. Interest on Investments (Item B-3) Administrative Expense (Item C-1) represent the local share of the Downtown Urban Itenewal Pro�ect which are assumed by the locality in a pro�ect which is on a 3/4 - lf4 basis. Such items as Administrative Expenses, Salaries, phones, insurance, printing, temporary operation of acquired property, legal services, and relocation costs are not shared in a project and must be assumed locally. General Expense (Item C-2) Ma.ny of our programs are not particularly identified with any current project, and these must be charged against local funds. In this category are FHA Programs, Neighborhood Facility Grants, Operation Breakthrough, and the like. The Housing Authority has assisted other� in pro3ect planning, i.e. , Model Cities, - -2- 8-10-71 . . .• , . � • � Census tract 9 and 10, Liberty Plaza, and, most importantly, advance planning for NDP Programs. These costs must be assumed locally. General Expenses reflect these costs and other salary costs and expenses which are charged on a pro-rata,basis to the Tax Levy Fund. � ' , Payments in Lieu of Taxes (Item C-3) These payments are based on 30% of the Gross Rental Receipts from Downtown Properties. It should be noted that some properties . \ result in a net loss which is further compounded by paying 30X of the gross receipts. Miscellaneous Expense (Item C-4) There are certain payments which are required from time to time which are charges to the tax levy fund because there is no a1- ternative source of funding afailable. These expenditures fall into a variety of categories. Most recently the Authority was required to pay for the costs of curb cuts and utility relocations in order to permit the final FHA closing of the Libertq Plaza Housing Development, ($1,800) . Subsoil conditions on one particular moderate 3neome houaing aite were sorunpredictable �hat FFiE� required-a 2arge number of additional soil borings, ($5,000). Another example of miscellaneous expenditures is the donation of funds to the City to permit the conveyance of lands to the City where Federal regulations prohibit the dona,tion or dedication of these lands. Anticipated 1970 and 1971 expenditures for this purpose would include the purchase prices for the ice arena site on the West side, ($30,000) , and the Martin Luther King community site in Summit- University, ($15,000). EXHIBIT B is our pro�ection of the 1972 Tax Levy Fund - Redevelopment Budget. Interest on Investments (Item B-3) Interest income on investments for 1972 is estimated on the basis of anticipated excess cash being available for investments at current rates of return on U. S. Govermm�et Securities. Administrative Expenses (Item C-1) for Minn. R-20, Downtown, are estimat�ed at a reduced level compared to 1971. . : -s- s-ia�i _ • , . ; . ; General Expense (Item C-2) includes pro-rata share of Administrative salaries other than Minn. R-20 and expenses which are other wise nof reimbursable from i � ! Federal funds. I . Payments in Lieu of Taxes (Item C-3) is estimated at 30% of Gross Rental in ; Downtown Project. - Miscellaneous Expense (Item C-4) for 1972 includes expected local cash grants-in- I � aid contributions for the pro�ects listed. Budgeted also is $100,000 included I for such items as additional but not yet determined local share for payments in I lieu of taxes for Concord Terrace, Minn. R-37; Riverview, Minn. R-26; and NDP, Minn. A-1-1, which amounts were not figured into the current and latest approved budgets. Reserve for Interim Federal Financing and Contingencies (Item C-5) . By far the most important use to which the Tax Levy Fund is put is to �serve as our cash i reserve while awaiting federal funds. In NDP Year I, the �irst flow of federal funds came in September, though the year began May 1, 1970. In NDP Year II, no new federal moneys came until September. Year III so far has followed a similar pattern. ' In this period, the Tax Levy Fund serves as the source of interim financing. Obtain- ing moneys from local banks is difficult in most cases since they need a committment � to incur costs from the Federal Government which committment is often not forth- coming in a timely fashion. There was an uncertain period, for instance, between May 1, 1970, and June 15, 1970, for NDP financing while awaiting Federal permission to incur costs. The banks may be short of cash, and thus, the rates they would • charge would be in excess of the project rate. Most importantly, we cannot predict with any degree of accuracy when the federal funds will be available to pay off the loan. In a tight monep market this is critical information according to the banks. $300,000 has been earmarked for interim financing. Other uses to which this fund will be put in 1972 are: . a. The Relocation Formula (previously 100% Federally financed) has been changed. . . . -4- s-ia�i � � i Henceforth, until July of 1972, (when the formula will be 2/3 Federal and 1/3 Local) local funds must be used for business claims exceeding $25,000 and $200,000 has been , ; � earmarked for this purpose. I b. To complete the Riverview Pro�ect (R-26) , $300,000 has been set aside for , cash-grants-in-aid or for yet to be determined public improvements. I c. $200,000 has been set aside in anticipation of developing new housing both in � • and out of Renewal areas as authorized by the legislature of the State of Minnesota in the 1971 regular session. II. RELOCATION TAR LEVY FUND - ONE TENTH MILL - The Authority is the designated Central Relocation Agency for relocation other than � Urban Renewal. The Authority is responsible for maintaining a C'entral Relocation I service for all the families and persons displaced by public action in Saint Paul. This relates to the present ,agreement that the Autho.rity .has with the Ci,ty of St. Paul, wherein the Authority agrees to supply the sex�,�ices to assist in any possible way in " ; relocation. , ; � Funds are available from Urban Renewal Budgets for relocation costs within the particular pro�ect, but are identified with those specific pro3ections. In addition, we have a co�ntinuing responsibility to families displaced by code enforcement, other public acquisition, and catastrophes such as fires. We esti.mate the one-tenth of a mill tax levy will yield approxi.mately $30,000 which will be used to defray the relocation staff expense. EXHIBITS C AND D show expenditures in 1971 and pro3ected expenditures for 1972. : 8-io-�1 , ' , �� HOUSING AND REDEVELOPMENT AUTHORITY ' OF THE CITY OF SAINT PAUL, MINNESOTA � TAX LEVY FUND - REDEVELOPMENT 1971 ACTUAL AND ESTIMATED � EXHIBIT A � �I � �� . � . . � . � � � . r � � . . � .. 1971 ACTUAL �', � AND ESTIMATED , i �i . A. �alance in Fund - December 31, 1970 Fash, Investments, Receivables $1,182,370 ' � � ' ' � B. TNCOME . � �� 1) Tax Levy Actual and Estimated '� $ 307,229 � 2) Gross Rental Income Capital Center - R-20 211,787 3) Interest on Investments 52,623 4) Sale of Property - 546 Beaumon� 12,911 Total Receipts Actual & Estimated $ 584,550 Total on Hand and Receipts $1,766,920 r. ��ntcFe 1) AdministraCive Expenses � Ca.pital Center - R-20 $ 134,166 2) General Expense - Non Reimbursable - I 29,018 Items , 3) Payment in Lieu of Taxes 63,536 4) Police Program . 81,277 5) Miscellaneous Expenditures 10,000 6) Cash Grants-in-Aid - Riverview 43,965 - TOTAL EXPENDITURES � $ 361,962 Balance Estimated 12/31/71 $1,404,958 - 8-10-71 HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA TAR LEVY FUND - REDEVELOPMENT . BUDGET - 1972 � '� EXAIB IT B ! A. Sstimated balance 111/71 $1,4Q4,958 , I - . B. Receipts Z) Estimates Tax I,evy $ 300,000 . \. 2) -Grass Rental Income . Capita2. Center R-20 198,000 3) Interest on Investments 55,000 TOTAL RECBIPT3 $ 553,000 Total on Hand and Receipts $1,957,958 C. E�cpenditures 1) Administrative Expenses Capital Center - R-20 $ 150,000 2) General Expense . 100,000 3) Payments in Lieu of Taxes 59,400 * 4) Miscellaneous - Reserve for � Cash Grants-in-Aid to Minn. R-20 - Downtown 175,000 5) Reserve for Contingencies a. Interim Financing 300,000 b. New Relocation Sharing Formula 200,000 c. Cash Grants-in-Aid to " Minn. R-26 Riverview 300,000 d. New Housing Programs Authorized by Minnesota Legislature 200,000 Total Expenditures and Reserves $1,484,400 Balance Estimated I2-31-72 $ 473,558 * Payments in Lieu of Taxes are for powntown only. (Total Payment in Lieu of Taxes from all sources exceeds $330,000) � � s-lo-�i ' -� HOUSING AND REDEVELOPMENT AUTHORITY � > OF THE CITY OF SAINT PAUL, MINNESOTA TAX LEVY FUND - RELOCATION 1971 - ACTUAL AND ESTIMATED ' ' ERHIBIT C r . j i ' Estimated 1/IOth Mill I 30 722 Expenses � Salaries $19,000 � Tra�el 700 . Retirement Contributions 1,900 Publications 60 Sundry Overhead 5,262 Relocation Financial Assistance 3,800 Total Expenses $30 722 � . s-10-�1 ,. . �. , "' �� ' •��' HOUSING AND REDEVELOPMENT AUTHORITY ' QF THE CITY OF SAINT PAUL, MINNESOTA . TAR LEti'Y FUND - RELOCATION BUDGET - 1972 � i i i EXHIBIT D ' ; _ � � Estimated 1/lOth Mill Levy ' 30.000 Expenses Salaries f _ 21,000 Travel _ _ 800 Retirement Contributions 1,900 Publications 300 Sundry Overhead Rent, Heat, Lights, Stationery, Telephone, Etc. . 4,000 Re].ocation Financial Assistance : 2,000 Tt►tal Expenses $30,000 i � • . I _ � � • � � .. � � . ' ` �� � , � ,�' , 1 � C�FFlC� O� �I-i�i ���'"Y �C�[u�"T��C��.L�F� �� S �fl� � . ; :s �� �,�. �� �� � SAIWT PAUL 1�!e � � R:,.,. , MIPJNESUTA 55102 , � . . . , , '"�� i.� � �✓ �;lALL (;# $ ` ,.� , � y1 � _° r A u .-�''�� 41 gr,_w.ti'��_pW� �_� . CL.t:r;���S i. SCfiLECK �tQ6ERT W. TRU�EAlJ Chief Accountar.t Asst. Chiet Accountant Comptroiler Deputy Comptrolf�r September 30, 1971 Honorable Mayor - President and Members of the City Cour,�'`° I submit herewith the Ta:x Levy Fund BudgPts of the Housing and Redevelopment Authority of the i'iry of Saiiit Paul. .. ; � - Minr�esota Statutes 462,5�'�5 reads in part as follows; "Subject to the cc�nsent by resolution, of the governing body of the municipality in and for which it (Redevelopment Authority) was crea�ed, an authority is authorized to levy in each y;.ar a special tax upon all pregerty, both real and personal, within the taxing district". This law further providL.: that t-he Authority shall submit i�s budgets tc� the Comptroller at the same time as other budgets are submitted and he, the Comptroller, shall submit said budget to the City Council at the sar.�e time the City Budget is submitted, The budgets of the Housing and Redevelopment Authority as sub- mitted to me (copy attached) includes the following requests: Redevelopment Tax Levy Fund for 1972, $300,000.00. This is the estimated amount the statutory one mill limit is anticipated to praduce during 1972. Relocation Ta�; Levy Fund for 1972, $30,000.00. This is the estimated amount the statutory one-te�.th mi11 limit is anticipated +�� � -r:oduce during 1972. Respectfully submitted, ,. ,' ,- ' � / t �G (�r,u:,�..���, �,i �`.� . � Cl mens J. ;Schl.eck Chief Accountant - Comptroller Encl. (1) - . � �' � �-�.. �,,'''� . .:' .. ,,:.:. . .,. i . H�US;N� AND REDEVELOPf�IENTAL'T�{ORITY OF THE CITY OF SAINT PAtJL, MI �vNESOTA � � �,..• , . . I . � � . . . � . . �. i �' REPORT TO THE COMMiSSlOiJERS D�1TE Augusr lo, �9�1 � � . � RFGAR DI(�G Consideration of the One Mill Redevelopment Tax Levy Fund and the One-Tenth Relocation Tax Levy , � You will have for consideration in your meeting of August 1�1, a resolution for the approval of a one mill tax levy for redevelopment and a one-tenth mill tax for ; re3.ocation for the year 1971. These levies are authorized by State enabling legislation. 2. REDEVELOPMENT TAX LEVY We estimate the one mill tax levy for renewal �vill yield approximately $300,000 after it is adjusted upward to take advantage of legislation enacted to compensate governmental -- units which have a milZage limitation for losses of revenue because of various tax _.- -- _ _ . .. _ _ _ ____ _. - - -- - - -- - —__ �_—___._ changes (i.e. , money and credits tax, household personal proper.ty, business personal pr.operty, etc.) + ' . .. � , ; � . . , � EXfiZBIT •A is entitled Ta� Levy Fund - Redevelopment 1971 - Actual and Estimated. Interest on Investments (Item B-3) Administrative Expense (Item C-1) represent the ].ocal share of the Downtowri Uxban Renewal Project which are assumed by the locality in a project which is on a 3/4 - 1/4 basis. Such items as Administrativa Expenses, Salaries, phon�es, insurance, printing, temporary operation of acquired property, legal services, and relocation costs are not shared in a pro�ect and must be assumed locally. General Expense (Item C-2) Many of our programs are not particularly identified with any current project, and these must be charged against local funds. In this category are FHA Programs, Neighborhood Facilitg Grants, �pera�ion Breakthrough, and the like. The Housing Authority has assisted others in pr.oject planning, i.e. , Model Cities, � � -z- s-io-n r Census tract 9 and 10, Liberty Plaza, and, most importantly; advance planning for NDP Programs. These costs must be a�sumed locally. General Expenses reflect these costs and other salary costs and expenses which are charged on a pro-rata.basis to the Tax Levy Fund. � ' Payments in Lieu of Taxes (Item C-3) These payuients are based on 30% of the Gross Rental Receipts from Downtown Properties. It should be noted that some properties . � result in a net loss which is further compounded by paying 30% of the gross receipts. ` Miscellaneous Expense (Item C-4) There are certain payments cahich are required from time to time which are charges to the tax levy fund because there is no al- ternative source of funding afailable. These expenditures fall into a variety of categories. Most recently the Authority was required to pay for the costs of curb cuts and utility relocations in order to permit the final FHA closing of the Liberty Plaza Housing Development, ($1,800) . Subsoil conditions on one particular moderate �ncome housing site were so unpredictable that FHA required a large number of additional soil borings, ($5,000) . Another example of miscellaneous expenditures is the donation . of funds to the City to permit the conveyance of lands to the City where Federal regulations prohibit the donation or dedication of these lands. Anticipated 1970 and , 1971 expenditures for this purpose would include the purchase prices for the ice arena site on the West side, ($30,000) , and the Martin Luther King community site in Summit- University, ($15,000) . EXHIBIT B is our pro�ection of the 1972 Tax Levy Fund - Redevelopment Budget. Interest on Investments (Item B-3) Interest income on investments for 1972 is estimated on the basis of anticipated excess cash being available for investments at current rates of return on U. S. Govermm�et Securities. Administrative Expenses (Item C-1) for Minn. R-20, Downtown, are estimat�ed at a reduced 1eve1 compared to 1971. ' �3- 8-10-71 General Expense (Item C-2) inclu��� �.ro-xata share of Administrative salaries i other than Minn. R-20 and ex'pen�.;: _�i,�.c�n are other wrise not reimbursable from Federal funds. � , i � � . Payments in Lieu of Taxes (Item G�3} is estimated at 30% of Gross Rental in Downtown Project. � - i Miscellaneous Expense (Item C-4) ;�i 1972 includes expected local cash grants-�n- i ' aid contributions for the project� :i.3.sczd. Budgeted also is $100,000 included for such items as additionaZ but Y�u� yet determined local share for paynients in lieu ot tax�s for Concord Terrace; I�:�nn. R-37; Riverview, Minn. It-26; and NDP, Minn. A-1-J, whicfi' amounts were not figured into the current and latest approved ' � i budgets. � . . f , ., , Keserve for Interim Federal Financing and Contingencies (Item C-5) . By far the most importar�t use to which the T� Levy Fund is put is to ;serve as our cash ,• reserve while awaiting .federal funds. In '.�TDF Year I, the first flow of federal funds came in September, though the year began May 1, 1970. rn NDP Year II, no new federal moneys came until September. Year III so far has followed a si.miZar pattern. � In this period, the Tax Levy Fund serves as the source of interim financing. Obtain- ing moneys from local banks is difficult in most cases since they need a committmenfi � to incur cosfis from the �ederal Government which committment is often not fortr- coming in a timely fashion. Th2r.: -wa� an uncer�ain period, for instance, between May l, 1970, and June 15, 1970, �for PdDP financing while awaiting Federal germissioi� to incur costs. The banks may be short of cash, and thus, the rates they would • charge would be in excess of the project rate. Most importantly, tire cannot predict with any degree of accuracy when the �ederal funds will ba available to pay off the loan. In a ti�ht money z��=�rket t�is is cri�ica� inf�rmation according to �he banks. $300,000 has been earmarke-:i .��.r interim f.inancing. Other uses to which this fund will be put in 1972 arE>; a. Th� Relocation Formula (previ.��t_r�ly 1.00% Federally financed) has been changed. . � -4- 8-10-71 Hencefort�., unti� July of 1972, (when tt-�e formu�.a will be 2./3 Federal and 1/3 Local) local funds must be used for business claims .exceeding $25,000 and $200,000 has been i earmarked fot this purpose. i 1 b. To complete the Riverview Pro�ect (R-26) , $300,000 has been set aside for cash-grants-in-aid or for yet to be determined public improvements. c. $200,000 has been set aside in anticipation of developing new housing both in � and out of Renewal areas as aurhorized by the legislature of the State of Minnesota in the 1971 regular session. � II. RELOCATION TAR LEVY FUND - ONE TENTH MILL - The Authority is the designated Central Relocation Agency for relocation other than � Urban Renewal. ' The Authority is responsible for maintaining a Central Relocation I sexvice for all the families and persons displaced by public action in Saint Paul. This xelates to the present agreement that the Authority has with the City of St. Paul, wherein the Authority agrees to supply the ser�ices to assist in any possible way in - relocation. , ; - � ; Funds are available from Urban Renewal Budgets for relocation costs within the particular pro3ect, but are identified with those specific projections. In addition, we have a continuing responsibility to families displaced by code enforcement, other public acquisition, and catastrophes such as fires. We est�mate the one-tenth of a mill tax levy will yield approximately $30,OOO.which will be used te defray the relocation staff expense. EXHIBITS C AND D show expenditures in 1971 and projected expenditures for 1972. - . • B-YO-71 _ ' �, HOUSYNG AND REU�V�LUPi�lENT AUTHORITY ' • ' OF` Th� CI�Y OF SAIAIT YAUL, MIiv'NESOTA ' � Tt�X �.E`Ii� FU;<D - FtEDEVET.GPM�NT 1971 AL'TLTAI, AND ESTItsATr.D EXHIBIZ' A � � 1J71 ACTUAL ' � AND ESTIMATED I � A. galance in Fund - December 31, 1970 �Cash, Investments, Receivables $I,).8�,370 i B. INCO2�1E . i � 1) Tax Levy Actual and Estimated '; $ 307,229 � I 2) Gross Rental Income ' Capital Center - R-20 2I1,787 3) Interest on Investments 52,623 4) Sale of Property - 546 Bea�onti 12,911 Total Receipts Actual & Estimated $ 584,550 Tutal on Hand and Receipts $1,766 920 � � �xpFNCrc I) Administrative Expenses � Capital Center - R-20 $ I34,166 2) General Expense - Non Reimbursable i 29,018 Ifiems . � 3) Payment in Lieu of Taxes 63,536 4) Police Program . $1 277 . � S) Miscellaneous rxpenditures 10,000 6) Cash Grants-in-Aid - Riverview 43,965 — TOTAL EXPENDITURES $ 361,962 Balance Estimated 12/3I/71 $1,404,958 8-10�71 ' HOtJSING AIvD REDE�IELOPMENT AUTHORITY ,, OF THE CITY OI' SAINT FAUL, MINNESOTA TAY► LEVY FUND - REDEVELO�MENT . � BUDGET - 1972 � EXH IB IT B - A. 5stimated balance 1/1/71 $1,404,958 B. Receipts � , 1) Estimates Tax Levy . $ 300,000 ,�. 2) Gross Rental Income . _ Capital Center R-20 198,000 3) Interest on Investments 55,000 TOTAL RECEIPT� $ 553,000 Total on Hand and Receipts $1,957 958 , C. Expenditures 1) Administrative Expenses Capital Center - R-20 $ 150,Q00 2) General Expense _ Z00,000 , 3) Payments in Lieu of Taxes � 59,400 * 4) Miscellaneous - Reserve f�r � Cash Grants-in-Aid to Minne R-20 - Downtown 175,000 5) Reserve for Contingencies a. Interim Financing 300,000 b. New Relocation Sharing Forniula 200,000 u. Cash Grants-iu-Aid to � Minn. R-26 Riverview - 300,000 • d. New Housing Programs Authorized by Minnesota Legislature � 200,000 Total Expenditures and Reserves $1,484,400 Balance Estimated 12-31-72 $� 473,558 � * Payments in Lieu of Taxes are for powntown only. (Total Payment in Lieu of Taxes from all sources exceeds $330,OA0) . , � s-io-�1 � • HOUSZNG AND RF.DE�iTELOP:�IENT AUTHGRIT'Y ° � � OF THE CITY Or SAINT PAU�., MLi\:v'ESOTA TAX LEVY FUiVD - RELOCATION I9iI - �CT'UAL AND ESTI,'.•1ATED ' � �CHIBIT C r , � i Estimated 1/IOth Mill I 3b 722 � Expenses � Salaries $19,000 Travel 700 . Retirement Contributions 1,900 Publications �60 Sundry Overhead 5,262 Relocation Financial Assistance 3,800 Tota1 Expenses $30 722 � , . � � . , . 8-10-71 .; ' ' • ' • , . HOUSI2vTG AND REDEVELOI�iENT AtJTIiORIT�° � OF THE CIT�.' OF SAZI�°C PAUL, MII�TESOTA TAX LEVY FUDTD - RLLOCATION BUllGET - 1972 I . . ; ; � EX�IIBIT D ' � . ; Estimated 1/lOth Mill Levy i 0 000 Expenses Salaries 21,000 Travel gpQ Reti�eiuec�t Contri��±'-�ons � 1,900 Fub?ications 300 Sundrq Ovarhead Rent, Y.eat, Lights, Stationery, Telephone, Etc. 4,000 .:&�ls��ation Financial :ssistance : 2,000 -Tta*a 7 E��enses $30,000 i � ; • � ; • _ . , i . ; ,. , r Oc't. 1, 1�`j 1 �.,�;�. .i��:,n-:tc.��.t . !�=1_ _�. t.or�ora.tion Coun�e1 ?:�i�..c�_i��� 1:[:El.r' .:;_i,:t': 't.�.e �„i�;;r Council to<iay requested that you �?T'�jJA:E a t �c>�;iu�:io:L ::�:��rov:in;; i:ne ��c �Wevy Fund 3ud�;e`ts o�' tii� :rlousin� r�nd Kedevelopment ��uth�rita- �or l�)72, 'l.ti I:1(i.i:u ;.'i:i�_iTr' SE'.�.` 7+.1f, iTl �i1'1(' f3.�".�i£,°+Ci1�'t� �..:,.''�4�:�' Oi �,;ia� ;;,ii�'' l,c:<:o:ua��nt - �orlg�trt�Llcr. jIE'r�,� hX'u1_.y ,yi��tr.'s9 C�.ty �1 erk tiU�Ilj� oct. �, 1�71 Hon. :�.au c��c;Ea�n�za� Cr�aan�.;� i!.ut).�t�'.or Caurt i��ts�e Le� ;:;i�: �'1�� �x�;� �:r��nci1 directecl �e 'co e���d �rou tckz� �t�ach�d c�rti�°i�ci copy e�f �ouncil File �4a. 25�y&?' acioptecl �to�3ay� c��ir� �:�� ��:�.x �.�:vy f?or th� su��aort af' the .IT��s:€xss� r�na tceix�:ve].c�prnert°� Authe�r�.�ty o� th� �:I.t� of :a3.nt ���:s. fox� t�a� ca�.�adar y��z° 1y f�' as :uiore �til.ly �eser:t'k�e�. there�. 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