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MEMORANDUM <br /> <br />DATE: <br /> <br />December 9, 1994 <br /> <br />TO: <br /> <br />FROM: <br /> <br />Mayor and Councilmembers <br />Ryan Schroeder, City Administrator <br />Glyn Huff, Building Official <br />Steve Lutmer, Building Inspector <br />Sylvia Frolik, Zoning Administrator <br />Jessie Hart, Finance Officer /.,,~ <br />James Gromberg, Economic Development Coordinat <br /> <br />SUBJECT: Monthly Building Activity for November <br /> <br />Attached for your review are the building activity reports for the month of November. The <br />City issued 1.0 new home permits and is currently on track to build a total of 248 new <br />homes in 1994. This compares to the 302 homes that were projected to be constructed at <br />the beginning of the year. This would equate to a population increase of approximately 851 <br />new residents' for the City. Based upon the population at the end of 1993, the City will <br />have an estimated population of 15,240 residents. <br /> <br />Based upon the slow-down, that the City is currently experiencing in new housing starts, it <br />would appear the Federal Reserves plan of easing inflationary pressures by reducing new <br />home construction and purchases is working. If this continues to be the case on a nation- <br />wide scope, then we should experience a leveling-off of interest rates. This is not to say <br />that rates will not increase, but the increases should be smaller in the future and <br />intermingled with reductions. <br /> <br />The City is currently developing the projections for 1995, and the year-end report for 1994. <br />I have received comments on the proposed report from some of you; however, if you <br />intend to provide any comments, you should get them to me in the next couple of days. <br /> <br /> <br />