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HRA reports cash balance and sets 2026 meeting dates; preliminary levy noted
Summary
At a separate HRA meeting Oct. 27, staff reported an unaudited HRA cash balance of $388,521.44 (as of Sept. 30), said the HRA and city preliminarily approved a $77,000 levy for 2026, noted incoming Minnesota local affordable housing aid distributions, and approved HRA meeting dates for 2026 by resolution.
The East Bethel Housing and Redevelopment Authority met Oct. 27 and received a financial update and a resolution setting HRA meeting dates for 2026.
Staff reported an unaudited HRA cash balance of $388,521.44 as of Sept. 30. The HRA and city have preliminarily approved a $77,000 levy for 2026 to preserve the HRAs standalone status and fund eligible projects. Staff also said the HRA has received $73,586.85 so far from the Minnesota local affordable housing aid (quarter-cent sales tax distribution) and expects additional distributions in 2025/2026 that could be used for eligible affordable-housing activities.
The HRA adopted Resolution 2025-04 setting regular HRA meeting dates for 2026 (January, April, July and October). Staff noted that some HRA funds have statutory restrictions and that staff will review whether HRA dollars could be used toward the possible purchase of a parcel at 1347 Semmes (the city is concurrently evaluating that property under separate agenda items).
