Politics & Government
City Of Lake Elsinore Projects Housing Starts To Double
New housing starts in the Canyon Hills and Summerly developments were noted as the drivers behind the uptick.
During a mid-year budget check Tuesday night, Lake Elsinore City Manager Grant Yates said from a fiscal standpoint, “the city is very healthy.”
The mid-year 2012-13 budget shows the city has a $10.1 million budget reserve and revenues are up, Yates said during the regularly scheduled Lake Elsinore City Council meeting.
A highlight of the mid-year checkup was housing starts. According to Director of Administrative Services James Riley, for fiscal year 2012-13 the city now projects 730 building permits, nearly double the number projected at the beginning of this fiscal year.
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New housing starts in the Canyon Hills and Summerly developments were noted as the drivers behind the uptick.
With the increase, the mid-year budget showed $504,000 in building permit revenues.
Find out what's happening in Lake Elsinore-Wildomarwith free, real-time updates from Patch.
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