IV. 1. Public Housing Operating Subsidy (HRA2023-02)
CITY OF HOPKINS
HRA Board Report 2023-02
To: Honorable Board Chair and Members
Mike Mornson, City Manager
From: Muse Mohamed, Executive Director
Date: March 21, 2023
Subject: Public Housing Operating Subsidy
_____________________________________________________________________
RECOMMENDED ACTION
MOTION TO adopt Resolution 550 to approve subsidy submission for the period ending
03/31/2024.
OVERVIEW
Each year Hopkins HRA is required by the Department of Housing and Urban
Development (HUD) to develop and approve a budget for the operation of the 76 units
of Hopkins HRA owned public housing properties at Dow Towers. In addition to
preparing the new fiscal year budget, HUD annually requests submission of the
operating subsidy calculation. For FYE 2024, we will receive an Operating Subsidy
funding from HUD to assist in the general operation at Dow Towers. Currently, we are
anticipating receiving 95% of the federal operating subsidy. Congress annually
determines the funding for the public housing programs. At this time, we anticipate we
will receive $268,404 from HUD. The Operating Budget is for our use as a guide during
our budget year; however, HUD requires the budget to be reviewed and approved by
the resolution.
SUPPORTING INFORMATION
• HUD Form 52574/Resolution 550
• Calculation of the Operating Budget Forms HUD-52564
Alternatives:
The HRA has the following alternatives regarding this issue:
1. Approve the action as recommended by staff.
2. Continue for further information
HOUSING AND
REDEVELOPMENT
AUTHORITY
550