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IN <br />BUDGET <br />(This budget does not affect the general fund tax levy) <br />PAGES: 21 -23 <br />EXPENDITURES: $38,250 <br />BUDGET INCREASE FROM 2011: $7,250 — 18.95% <br />NOTES: See attached information from the HRA on pages 21 -23. The HRA budget <br />does not affect the general tax levy; however, state statute allows for a <br />special HRA tax levy. <br />There is a projected shortfall on the West Grove Townhome revenues to <br />cover the cost of the bonds. These bonds were issued by the County HRA. <br />Resolution #03125 states that the City shall approve the annual HRA Levy <br />up to .0185% of the taxable market value to the extent it is needed to <br />`• pay debt service on the bonds. The HRA is requesting the City to levy <br />$38, 250 to cover the debt service. <br />Page 1 of 28 <br />