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Council told to assume 600 new homes for permit revenue; staff says conservative approach
Summary
Staff told Council the building-permit revenue forecast assumes about 600 new homes next year; presenters said they deliberately err low to avoid overestimating revenue and creating shortfalls later.
Treasurer Lori said building officials are projecting roughly 600 new homes for the coming year and that staff deliberately uses conservative estimates so the city does not overstate revenues. "They're predicting they're gonna go over, but we would rather error on the side of lower on the revenue so that we don't estimate too high and then we're in trouble," Lori said when presenting the permit-fee projections.
Council members asked for the basis of the 600-home assumption and Lori said she took the building department’s worst-case (conservative) scenario for use in budget planning. The presentation included permit fee line items and a note that some permit revenue is shared with contractors (60/40 arrangements), which reduces the city’s retained portion; staff said they will supply more detail on permit fee assumptions in follow-up materials.
