Agenda - Council - 01/14/1997 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I I MEMORANDUM DATE: TO: FROM: SUBJECT: January 6, 1997 Mayor and Councilmembers Ryan Schroeder, City Administrator Glyn Huff, Building Official Steve Lutmer, Building Inspector Sylvia Frolik, Zoning Administrator Jessie Hart, Finance Officer Linda Waite-Smith, Administrative Services Manager James Gromberg, Economic Development Coordinato. Building Activity for December, 1996 The City has completed another successful year in the area of commercialfmdustrial development. This success is based upon the issuance of building permits for the consmaction of over 532,000 square feet of new building space. This new construction will result in an increase in the commercial/industrial tax base of $17,310,000. This increased value will generate over $800,000 in new tax capacity. As a point of reference, the City would need to construct over $39,000,000 in single family homes to generate this amount of revenue. With the average new home being valued at $121,000, the City would need to have constructed over 322 new homes to achieve this level of tax base growth. Attached for your review are the building permit reports for the month of December, 1996. As the reports show, the City issued 10 new home permits which compares to the eight projected during this period in the residential activity forecast. This brings the total single family home permits to 276 for the year. This will result in a population increase of approximately 938 people, bringing the estimated total population to 18,090. With the end of 1996, we will be completed the 1996 year end report and the forecasts for 1997. During this process, we will be evaluating the population estimates and incorporating the Metropolitan Council estimate of persons living in each single family home. This may result in the population figure being reduced, but will allow for a more accurate population number. If you have any suggestions for the year-end report, or questions concerning the monthly reports, please contact me.