City council talks annexation, baseball, bridge
18.05.12
The council met Friday for a daylong retreat at Wilmington International Airport 's conference room. Staff members also provided updates on ongoing projects and on filling city jobs. The retreat gave new council members, Neil Anderson and Margaret Haynes, a chance to get up to speed on city issues and allowed council members to throw out ideas in an informal setting.
The council got some good news early Friday morning when Finance Director Debra Mack reported the city's fund balance, essentially the city savings account, rose $2.2 million this year. It was the first increase since 2007. But, she warned that the city is looking at a massive budget hole in the next few years unless the tax rate is adjusted because of the county's real estate revaluation.
New Hanover County will see a massive drop in real estate values next year. The city of Wilmington will see a decrease in home values at 13 percent, county officials have said.
With unemployment at 10 percent
Source: StarNewsOnline.com
