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Hubbard County HRA reviews 2026 preliminary budget, schedules industrial park public meeting; Regency to receive Small Cities grant work
Summary
HRA staff presented a preliminary 2026 budget overview, recommended consolidating bank accounts to increase interest income, reported the audit is underway, announced a Sept. 25 industrial-park public meeting, and said Regency will receive Small Cities Development Grant funding for interior and deck work.
Hubbard County HRA staff presented a preliminary 2026 budget overview and several administrative items at the Sept. 1 meeting: consolidating bank accounts to access higher interest yields, an ongoing audit, a scheduled public meeting on Sept. 25 regarding the industrial park, and planned Small Cities Development Grant-funded work at the Regency property.
Mary, HRA staff, described revenue and expense lines in the preliminary budget and said rental income has been presented as net across properties. She told the board the agency should reduce the number of bank accounts to concentrate balances and qualify for higher-yield accounts or instruments. "If we combine and get all of our money in one or two accounts, then ... we can access higher interest rates," Mary said.
The HRA is in audit season: staff said confirmations were sent and the auditor will do on-site work in October. The board was told a preliminary public meeting on industrial-park development is scheduled for Sept. 25 at Farden Town Hall; the meeting will include a third-party facilitator and provide neighbors information about what uses are feasible on the property.
Mary also reported Regency will receive Small Cities Development Grant funding for interior and façade/deck renovations; staff will release bid solicitations to contractors and are working to obtain an architect to produce plans required by the city for deck replacement and related work. The HRA noted that Small Cities funds cover internal and deck work but not garage repairs, which will be addressed later.
Staff also reviewed levy and revenue structure: the HRA levy was described as $120,000 and an additional $100,000 for economic development flows through county budgeting. Board members asked about interest income and staff said account consolidation and larger balances would improve yield and allow consideration of certificates or short-term investments as balances grow.
No formal budget adoption occurred; staff will return with detailed budgets and the HRA will take formal action at a later meeting ahead of levy/budget deadlines.
