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Friday, August 08, 2014

Marpe: Better Economy, Desirable Community Equals Windfall

By James Lomuscio

Westport First Selectman Jim Marpe said today that the $6 million year-end surplus due to more building and conveyance fees, taxes paid and unexpected revenues signals a strengthened economy and continued interest in Westport as a desirable place to live and do business.

At the same time, Marpe maintained a conservative view of town’s good fortune and was not champing at the bit for a future town projects and initiatives spending spree.

“The additional revenues reflect a strengthening of the economy and the continuing interest on the part of developers, homebuilders and residents on investing in Westport,” Marpe said. “Many of these extra dollars are related to fees and the sale of property.”

The largest sale occurred in early June when Nyala Farms sold for $132 million, generating more than $300,000 in conveyance fees, said Finance Director Gary Conrad. Meanwhile home sales, new construction and tax collections are up.

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