From city Communications Director Av Harris:
Mayor Joe Ganim today is reporting that during the month of July, the city brought in $1,168,054 in revenue earned from issuing just under 300 building permits in the city, nearly triple the same revenue figure from July 2015 which was $388,945. This sharp increase in building permit revenue comes as major economic and real estate development projects get underway in downtown Bridgeport and other areas of the city, with even more building activity expected over the next 12 months. These projects include developments such as phase two of the Crescent Crossing housing development on the East Side of Bridgeport, major infrastructure improvements to Bridgeport Hospital, and the Polka Dot Theater renovation and conversion into apartments downtown.
“There are many economic indicators, but a significant increase in the revenue generated by building permits is a good sign that things are really moving in Bridgeport!” said Mayor Ganim. “These are major development projects that will create state of the art new housing and improve health care at one of the region’s most important trauma centers. Not only are these projects helping to bring in important revenues to our city, but they will also make Bridgeport a more attractive place to live and create many jobs here as the building stages move forward. There are many more development projects already in the pipeline and my administration is committed to working with investors and builders as partners to insure that their positive vision for the future of Bridgeport becomes a reality. It is a very exciting time to be in Bridgeport and help unleash all the potential our city has to offer.”In a typical month, the Bridgeport building department issues $400,000 in building permits to contractors. The July 2016 building permit revenue picture represents a 292% spike in revenue over what is normally received by the city. Other future building projects that will likely seek permits include the construction of the new Barnum train station, more apartment conversion renovations in ‘Downtown North’ Bridgeport, and the beginning of construction of a new natural gas power plant by PSEG to replace the coal-fired plant in the city’s South End.
So what did the city budget for this revenue item? They must have know about it. Did Nestor and Ken Flatto forget to add it into the budget?
That would be a horrible mistake. Could have saved a million dollars in taxes by recording it. BUT WAIT!!!!!!!!! Maybe they did. Maybe this is just a make-believe story. They knew all along. They added it to the budget. But because Joe is feeling the heat he is making up good news. Do ya think so?
*** AH YES. BPT BUILDING PERMITS THAT ARE WAY “OVERPRICED” IN AN URBAN CITY WHERE YOU WOULD THINK THE CITY WOULD LIKE ITS RESIDENTS TO UPKEEP THEIR PROPERTIES. IF YOU WANTED TO GET YOUR HOUSE ROOF REPLACED BY CODE SAY A TWO=FAMILY HOME, A BUILDING PERMIT BEFORE ANY WORK IS DONE WOULD BE ABOUT $1,600 FROM THE CITY AND A SECOND INSPECTION AFTER THE WORK IS DONE WOULD ALSO BE NEEDED, THUS MORE MONEY! BPT BUILDING PERMITS ARE ONE OF THE HIGHEST IN CT. WHY? MOST PERMITS, LICENSES, ETC. IN BPT ARE WAY OVERPRICED. JUST LOOK AT THE COST OF PARK STICKERS IN GENERAL! NOW ADD THOSE COSTS WITH THE WPCA BILL, PROPERTY TAXES, INSURANCE AND UTILITIES IN AN URBAN SETTING! IT’S OUT OF HAND, NO DOUBT. ***
If that is true, the $1 mil would be 625 roofs. I wonder if they are counting building permit income from all the school construction. That would be the city paying a company to get a building permit. That is not really revenue.
Unless these fees are for previously unannounced, fully taxable, high-employment projects, there is nothing to get excited about here. It sounds like old news recycled for propaganda purposes.
I am much more interested in getting a detailed report on the discussion topics/outcomes of the recent City Hall UB retreat.
Looking in the rearview mirror at potholes and debris in the road doesn’t make for a soothing drive in the forward direction.
Right on, Jeff!
Although he complained about a $20 million pay raise that nobody has repudiated, Mayor Ganim is getting credit for the many new projects that were started under his predecessor. He is inheriting new economic development.
Agreed I’m new at this, but this seem like Finch releasing crime stats. Cherry-picking the revenue of building permits for a single month based on major projects that were years in the planning to project Bridgeport economic growth seem disingenuous.
If there’s any indicator of Bridgeport’s economic growth, it is this. It’s very early in the Mayor’s term, less than one year, and he’s releasing cherry-picked stats on what Bridgeport’s economic future looks like. The next mayoral election is over three years away. If we start seeing the mayor doing public campaigning like mending fences and stopping in diners shaking people’s hands and kissing babies, it might be an indicator things aren’t going well. Time will tell.
LE, although I don’t know you I must compliment your post, you nailed it.
In an unrelated story, get Connecticut DOT to pay for your advertising.
–> www .ct.gov/dot/cwp/view.asp?a=2354&q=415300
www .BrewportCT.com
LOL, pure propaganda. Now look for Joe to hire a few more friends to “fill out his admin” with the “unexpected” money. New mayor, same way of doing business.
Could this possibly be the $l million that went mysteriously missing from the BOE accounts? Could we possibly be recycling money through accounts to make the administration look good? Will we see a million pop up somewhere else in a couple months? Just saying, a million dollars does not happen overnight, especially in Bridgeport!
I hope he at least is sending Thank You cards and flowers to Finch and Kooris.
Bridgeport has increased what were already high building permit fees. These high fees are just one of the disincentives to develop in Bridgeport.
Looking at the projects cited in the release, only one will contribute with property tax payments.
It is good to see Bridgeport Hospital investing in Bridgeport. Their new oncology facility is a good example. But wait, the oncology facility is in Trumbull. Hospitals are tax-exempt and the dwindling payments are PILOT.
More housing? Great! Oh, it’s more government subsidized (our taxes) section 8 housing.
Oh well, revenue is revenue.
At least the powerplant will pay taxes.
Bridgeport getting better every day.