091624 Resolution 1488HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION NO. 1488
RESOLUTION APPROVING REVISED OFFICIAL BUDGET DOCUMENT
WHEREAS, the Housing and Redevelopment Authority in and for the City of Richfield,
Minnesota (the "Authority") approved a revised 2024 and 2025 budget and preliminary 2025 tax
levy on August 19, 2024; and
WHEREAS, the details of the revised 2024 and 2025 budgets are maintained in the
Executive Director's official copy of the budget document (the "official copy"); and
WHEREAS, the Executive Director, in concert with the Finance Director of the City of
Richfield, have determined that the following changes should be made to the official copy:
1. The fund balance of the Affordable Housing Trust Fund and Special Legislation
Funds should be combined in the official copy to clarify available funding and
transfers;
2. A previously approved expenditure for an affordable housing project should be
included in the 2025 Budget rather than the 2024 budget; and
3. Anticipated funds from the State of Minnesota should be classified as
Intergovernmental Revenue.
WHEREAS, the proposed changes do not constitute a change to the HRA General Fund
Budget or approved preliminary 2025 tax levy; and
WHEREAS, the revised official copy clarifies that funding is available for programs and
commitments made by the Authority.
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the Housing
and Redevelopment Authority in and for the City of Richfield, Minnesota as follows:
1. The Board approves the revised Executive Director's official copy of the 2025 Budget.
Adopted by the Board of Commissioners of the Housing and Redevelopment Authority
in and for the City of Richfield, Minnesota this 16th day of September, 2024.
��fiVL
r ,
Erin Vrie a Daniel hair
ATTEST:
Sean Hayford Oleary, Secretary