Edina approves modest budget increase for housing and development
The Edina Housing and Redevelopment Authority unanimously approved its 2025 budget on March 15, authorizing a tax levy of $259,300 — a 3% increase from the previous year. The funds will support the city's housing and economic development initiatives.
The Edina City Council's Housing and Redevelopment Authority (HRA) voted unanimously to adopt Resolution 20248, which sets the agency's budget and tax levy for 2025. Commissioner Agnu moved to approve the resolution, with Commissioner Jackson seconding the motion.
Executive Director Neil presented the financial proposal to the commission, explaining the reasoning behind the increase. "We are asking the commission to approve the proposed budget and tax levy for the HRA for 2025," Neil said. "The proposed tax levy is $259,300, which represents a 3% increase over the 2024 levy. The city uses these dollars to fund housing and general economic development activities."
The $259,300 levy represents a modest year-over-year increase as the HRA continues its work on affordable housing and broader economic development projects within Edina. The unanimous approval indicates the council's confidence in the proposed spending plan and the HRA's priorities for the coming year.
With the resolution now adopted, the HRA can move forward with its 2025 initiatives using the approved budget framework.
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