At last Thursday's Common Council budget review, in the budget worksheep analysis, page 1, the city indicated that the current revenue from building permits was $16,122 as of September 30,2006. The 2005 actual had been $47,586. The 2005-06 budget had predicted $38,000. So--it was slower than anticipated.
I confirmed with Eric Jepperson that the budgeted number for next year is $25,000 and the city is still hoping to hit the $25,000 this year. Still, the revenue from building permits is almost down 50%. OUCH.
If you click on the post you will see the post back in 6-30-2005 about the inverted yield curve, and the recession that it predicts. Contractors and....well...everyone have paid a price for the slowdown.
The current budget presumes that this will continue for the next year. Not get better. Not get worse.
Stay tuned.
The Evansville Observer. We break the news others write about.
Thursday, October 12, 2006
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