Housing and Redevelopment Authority Meeting Date: October 20, 2026
To: Members of the Housing and Redevelopment Authority
From: Scott Wopata, Community Development Director
Title
Consider Approving the 2027 Budget for the Housing Redevelopment Authority
Body
Action Requested:
Council approves a motion to approve the proposed 2027 Annual budget for the Housing Redevelopment Authority (HRA).
Summary Report:
Staff has prepared a draft of the 2027 HRA budget for consideration by the HRA. The proposed budget is included in the attached financial statements. These include a reformatted Income and Expense Statement, separated by funds, for the HRA to consider and discuss 2026 YTD fiscal performance in comparison to the proposed 2027 budget. Additionally, a reformatted Balance Sheet is included for more clarity related to the HRA’s assets.
All financial statements are marked up with comments from Community Development Director Scott Wopata. The main areas to highlight for the 2027 proposed budget are offsetting increases in both income and expense for secured State of MN grant funding. The proposed budget is neutral (income = expense) and will maintain some of the programming from the past, while using partners to deliver the specifics of financial assistance. While the budget has increased over the past years, it is actually a decrease when State of MN grant funding is removed. This reflects significant consolidation in staffing and the conclusion of the HRA’s cost share of the update to the Land Development Code.
Staff will be available to present, discuss and answer additional questions.
Recommendation:
Staff recommends approval of the proposed 2027 Annual budget for the Housing Redevelopment Authority.
City Plans & Policies Relevance:
N/A
Alternative Options:
N/A
Financial Impacts:
N/A
Tentative Timelines:
N/A