Agenda - Council - 08/22/1995 - Laserfiche WebLink

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I I I i i I I I ! I MEMORANDUM DATE: Augustll, 1995 TO: FROM: RE: Mgyor and Council Ciiy Administrator Ryan Schroeder Finance Officer Jessie Hart Cilty Engineer Steve Jankowski ZOning Administrator Sylvia Frolik Parks/Utilities Supervisor Mark Boos Building Official Glyn Huff Building Inspector Steve Lutmer Community Development Intern Cory Tauer /~. EConomic Development Coordinator Jim Gromber~// Building Activity for July 1995 During the month of July, the City issued 27 building permits for new single family homes. This compares to the projected 18 homes for this time period. The City, if it stays on the currant rate, should build 237 new homes (50% over projection for the final five months of 1995). This number should not cause a shortage in available lots with the recent completion of Willow Ridge, Fox Knoll and Sunfish Square 2nd Addition. These lots account for 89 new urban lots being added to the current inventory of lots. If a total of 237 home are competed during 1995, then the City would see a ipopulafion increase of 813 people. The City will also build over 125,970 square feet of commercial/industrial building space. This is based upon the iotal square footage of site plans approved or those currently completing the process. This would make 1995 the single largest year of commercial/industrial buildings. The greatest amount of space currently built was in 1990, with 116,432 square feet. The estimated value for tax purposes is $4,067,000, which would equate to 42 additional homes if tax rates for commercial/industrial properties paid taxes at the same rate. This amount of commercial/industrial development will reverse the recent trend of the ratio of commercial/industrial to residential property values being reduced from 10% to 8%. As always, if you have any questions regarding these repons or know of additional information that should be included, please let me know. JG/kaj