BY EMILY THOMPSON
FARMINGTON - With new money in the coffers stemming from the success of Station Park, this city is in the black.
The city is adding $240,000 to its general fund balance.
Revenues have come in higher than anticipated due to building permits. A lot of that increase is due to the Station Park commercial building, but there have also been many residential building permits issued this past year, amounting to a full 7 percent increase for the fiscal year, according to figures provided by the city.
Previously, $500,000 from the general fund had been transferred into the park fund, with the intent to build a large city park.
An additional transfer of the same amount is expected be made to the fund this year.
There will be no tax increases for 2014, and the only major projects for the next year involve the water fund.
New water lines and a new water tank are in the plans.
“We did not have a very strong tax base in more recent years due to only a few retail operations and restaurants within the city,” said Fruit Heights Mayor Scott Harbertson. “A lot of residential growth was taking place in that time, but we were not sure how we were going to build a tax base so that property tax increases would not have to happen”.
He added, “the excess that we do have is now being used to plan for the future.”