Meeting Date: July 27, 2021
To: Members of the Housing & Redevelopment Authority
From: Melissa Hanson, Housing Coordinator
Title
2021- 2nd Quarter Rental Property Report
Body
Action Requested:
The HRA to review 2nd quarter report of expenses and income for rental properties.
Summary Report:
The HRA owns and operates 5 rental units in 4 properties. Two units are rented to the Community Action Center (CAC) for a homeless prevention program, 1 unit is rented to a Bridge’s participant through CAC and Rice County HRA, and 2 units are rented to families at of below 80% of area median income.
2021 Estimated Rental Income $49,752
YTD Rental Income $26,389
$23,363= 47% of budgeted revenue received
2021 Estimated Expenditures $41,980
YTD Expenditures $26,700
$15,280= 36% of budgeted expenditures
Alternative Options:
N/A
Financial Impacts:
N/A
Tentative Timelines:
N/A