IN THE NEWS - FINANCIAL INFORMATION
Fed Kicks Off Next Rate Cycle
Today’s action by the Federal Open Market Committee (FOMC) to raise the target federal funds rate for the first time in nine years sets a new course for the financial markets.
As expected, the FOMC established a new target range for the federal funds rate of ¼ to ½ percent, up from 0 to ¼ percent, where it was set exactly seven years ago on December 16, 2008. Click here to read more.
Q2 2015 Newport Beach Sales Tax Update
Newport Beach’s receipts from April through June were 2.1% above the second sales period in 2014. Strong sales for new motor vehicle dealers, auto leases and several categories of the business and industry sector were primarily responsible for the current increase. Recent additions helped boost revenues from casual dining restaurants. Click here to read more.
Annual Reporting on Development Impact Fees & Development Agreements
The City Council of the City of Newport Beach will hold a public meeting to review the ANNUAL REPORTING ON DEVELOPMENT IMPACT FEES & DEVELOPMENT AGREEMENTS pursuant to the Mitigation Fee Act (Government Code Section 66000, et seq.). The meeting will take place on Tuesday, November 24, 2015, at 7:00 p.m. Please click on the document names to access the Development Impact Fee Report and the Development Agreements Report documents.
In the News Archive