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Lakewood reports modest revenue gains in Q3, outlines major 2025 road and park projects
Summary
Deputy City Manager Todd Krause told the council that third‑quarter revenues are up about $980,000 year‑to‑date and that permit revenue will likely exceed budget; staff outlined a pipeline of 2025 transportation and parks construction projects and flagged a Pierce County sewer main emergency on Bridgeport Way.
Deputy City Manager Todd Krause presented Lakewood’s third‑quarter financial report to the City Council on Jan. 6, reporting year‑to‑date revenue gains and a robust capital project pipeline for 2025.
Krause said revenues through Q3 were roughly $980,000 (2.5%) above the year‑to‑date budget and about $2.6 million (7%) higher than the same period in 2023. She reported operating expenditures are higher year‑to‑date than 2023 — about $3.2 million more — and slightly over budget ($384,000, roughly 1.1%). Development services permit revenue is the largest single windfall currently driving revenue growth; staff now estimate permit revenue could finish the year about $670,000 over budget. Overall, Krause said the city is looking at…
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