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Quarterly economic update: sales tax flat, building permits high and pipelines show mixed signals
Summary
City staff presented a quarterly economic report showing the city up modestly on sales tax over five years but flat year‑to‑date, a prior‑year high in building permits (719), and pipelines that include hundreds of proposed apartment and hotel units; staff cautioned some indicators are slowing and flagged lodging and retail trends.
City staff presented a quarterly economic report that tracked sales tax, building permits, lodging, pipeline projects and workforce indicators.
The presenter reported the city’s five‑year sales‑tax growth (~4.55% last year) and that, year‑to‑date, the city was roughly flat (a slight up or down depending on the window used). Building permits were unusually strong…
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