Agenda - Council - 09/24/1996 - 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: September 12, 1996 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/~1. /iv. ac- James Gromberg, Economic Development Coordinato(.~ Building Activity for August, 1996 Attached for your .review are the building permit reports for the month of August, 1996. As the reports show, the City issued 22 new home permits which compares to the 18 projected during this period in the residential activity forecast. This brings the total single family home permits to 217 for the year. This rate of construction puts the City on a path to construct a total of 268 new homes in 1996, which will result in a population increase of approximately 916 people, bringing the estimated total population to 18,052. Also included in this months reports is the annual comparison of the housing values for the residential properties in the City of Ramsey. This report shows that over 52 percent of the homes are valued, for property tax purposes, at less than $100,000 in value. This compares to 59% of the properties in this category for 1995. With the construction of new homes that are averaging over $115,000, this may indicate that this trend in value change is significant. However, when we review the base numbers we find that, with the new homes construction, the lower percentages only account for 21456 homes in 1996, and 2,722 for 1995. This indicates that residents in the City of Ramsey increased their net worth by simply owning a home and living within the City. If you have any questions concerning these reports, please contact me.