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Friday, 09 February 2007 00:27

Sutter Creek Looks At Fiscal Impacts of Gold Rush Subdivision

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Earlier this week Sutter Creek city council members received and filed the fiscal impact analysis for how the City’s general and road fund will be impacted by the proposed Gold Rush development project. The analysis was based on three scenarios: a base analysis, a conservative analysis, and a worst case scenario analysis. The report showed in scenario 1. The base analysis, that residential home sales prices would drop by 15% by 2024 and the general fund revenues would exceed the operating expenses by $469,000. 2. The conservative analysis showed a 20% reduction in residential home sales prices and a surplus in the general fund of $125,000; $456,000 less than that of the first study. 3. The worst case scenario predicted a 25% reduction on the price tags of residential homes and $583,000 deficit in the general fund. One public member got up and said the might be extremely inaccurate because it compared Sutter Creek to Auburn and Roseville.

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Read 618 times Last modified on Friday, 28 August 2009 02:08