City projects $4.8 million deficit

The city is projecting a $4.8 million deficit in its first quarter report.

It said a decrease in rent from city-owned property and less revenue from development application fees contributed to the shortfall.

However, it is normal practice for the city to project a deficit in the first quarter and still balance the books by year’s end.

Last year’s shortfall following the first three months of the year was $2.6 million.

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  The city said a decrease in rent from city-owned property and less revenue from development application fees contributed to the shortfall. (File Image)