Item Description:
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Approval of 2025 Hennepin County Regional Railroad Authority levy and budget
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Resolution:
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BE IT RESOLVED, that the Hennepin County Regional Railroad Authority (HCRRA) Board of Commissioners adopts final tax levies of $9,252,863 for debt service and $24,747,137 for general operating purposes for a total of $34,000,000 for year 2025; and
BE IT FURTHER RESOLVED, that the 2025 HCRRA budget, attached, be approved at $34,136,313.
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Background:
On September 17, 2024 the HCRRA Board of Commissioners set HCRRA’s maximum levy for 2025 at $34,000,000 with a budget of $34,136,313 (Resolution 24-HCRRA-0018).
The proposed 2025 HCRRA budget supports new budget authority of $9.6 million for the METRO Blue Line Extension (Bottineau) Light Rail Transit and $5.8 million for Midtown bridges.
The 2025 HCRRA budget also includes $9.8 million for maintenance of the 40 miles of corridor and staff support for transitways and oversight of HCRRA’s infrastructure assets and operational needs.
Current Request: Adoption of final tax levies of $9,252,863 for debt service and $24,747,137 for general operating purposes for a total of $34,000,000 for year 2025, and approval of the HCRRA 2025 budget of $34,136,313.
Impact/Outcome: Adoption of the 2025 HCRRA levy of $34,000,000 and budget of $34,136,313 will support the capital, debt service, and operational needs of the authority for 2025.
recommendation
Recommendation from County Administrator: Recommend Approval