Yes, my first budget presentation. So everyone back to school mode, right? And first budget presentation kind of all new and fresh.

The Housing Redevelopment Authority under Minnesota state law is allowed to levy up to 0.00185% of the city's total estimated market value. In 2026, that HRA levy, it was the maximum allowable by state law. And we're proposing to do the same for 2027, which would result in a 1.2% HRA levy increase, which is a total dollar amount of $77,031.

I think it's clear that the commercial corridor program is being proposed to be eliminated. The question is where are the dollars proposed to go? Um, and again, it seems like there are new lines here for the arena that we have not heard about. So, this is important information.

The amounts listed here are for PGO economic development for the arena complex connected to the legislative agenda for the renovations. On details though, I will have to defer to our treasury staff.

I I do not think it's appropriate to have us wait a month for that information. And so what can we do? What can we do? because we have a levy that we're going to vote on at the end of September, waiting till September 23rd for this item. I don't think that that's necessarily conducive when we should be able to get that information since it was proposed last month.

This source would really be intended as those final dollars in to be able to move projects forward that have been anticipated and planned and hoped for for years.

It would be helpful to see an additional two columns. One that talks about 2026 budgeted amount and one that shows the total amount currently in the balance as you were describing. Um, especially important as we get towards I think the third year of the first year of LAA spending that down.

And so this ADU specific subsidy then will be held with onin our small-scale development team. And so the goal is to work with developers who are interested in developing housing on HRA own land or other small infill in infill development opportunities to include ADUs in their plans.

My biggest concern is just that if we're going through a whole RFP process, it would then prevent us from providing that support for a significant chunk of the year, right?

It hurts my heart to see the $550,000 returning back to the homeowner loan program funding to the state. I know I I understand the exhaustions of funds, but I do want to ask just for clarity. Um, do we have any other programs at this time that are funded by an external source, either federal, state, or other uh philanthropic partner within PEED that are either not program like they're not running right now, but they have a budget item like this um or do you anticipate seeing any sort of things like this in fiscal year 27 around return funding because we didn't do what we said we were going to?

Um, talk about our HRA TIF districts and the debt obligations. Talk about HRA TIF districts um that we plan to descertify either because they are are uh well they descertify by their terms or we've exhausted our pooling abilities and they need to be descertified or we could elect to descertify um early.

Um I'm going to talk about pooling for affordable housing which is what we do when we keep a TIF district open if it could be descertified. We keep it open so that we can pool for affordable housing. and it's a very powerful uh source um to fund most of our uh many of our affordable housing projects.

So this shows 4.6 million that would be released to the tax base which is 19% of our total captured and um and that is also um 1.33% of the city's total um tax base.

The housing team has identified 12 projects seeking $20 million and they they have earmarked pooled TIF as a potential gap source. Um this would produce over a thousand units of rental and ownership housing throughout the city.