Archive for April, 2009
Redding City Council… Makin’ Moves
Council Approves Construction Incentives
Unanimous. That’s just not a word you get used to hearing these days in partisan politics. Perhaps though, it’s a little different when you’re dealing with your own back yard…
The Redding City Council has just unanimously approved some construction incentives that they believe will help the flagging building industry. This isn’t an entirely revolutionary idea- it’s the same one they’ve been using for the Downtown Redding area for some time, only this one is a little more grand in scale.
Spreading Out The Love
Basically, they decided that instead of making developers pony up mad cash for water and sewer impact fees, they only have to lay down 25% and can pay the rest out over a three year period (maximum- don’t even try to push it to four.). That’s like, 75% less than usual! Also, there is some interest figured in there, so it’s not like the City of Redding will be losing out on the deal.
Why the Love?
Well, after trying a few minor shifts, the Redding economy has continued to lag. Building permits are way down, which means the building of buildings isn’t being done, which means economic hardship. Redding City Council is doing what it can to prop up what is by far the most lucrative industry Redding has- construction.
Check the Deets!
I’m a two-bit hack when it comes to this reporting stuff, so if you want to know more you should read the article by David Benda in the recent Redding.com story (Incidentally, it is most likely not the same David Benda as this guy, but it would be rad if it was.).
Seriously, does anyone know Dave Benda? I want to know if he’s down with 80’s BMX action.
JERRY BAKER
GMAC REAL ESTATE PROFESSIONALS
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