Value of county building projects up, single family housing down
Madison County Judge Executive Kent Clark addressed members of Leadership Madison County after Tuesday's Fiscal Court meeting in Berea. Clark noted the county's plans for corridor development are having a positive impact.
BEREA – County Planning Director Duane Curry had a mixed report when he spoke to the Madison County Fiscal Court on Tuesday.
On the bright side, building permits for projects in Madison County jumped in value from $23,143,000 to $47,583,000. According to figures provided by Curry, last year the estimated cost of business-related buildings was $3,567,959, while this year it leaped to $30,768,000.
There was also a sharp increase in projected construction costs for factories in the county, going from $0 in 2007 to $3,000,000 in 2008, according to Curry’s report. (Story continues below)
While the projected cost of multi-family dwellings increased from $178,164 in 2007 to $300,000 in 2008, construction of single family dwellings dropped slightly, from $15 million in 2007 to $10 million this year.
“Obviously the economy is down and these numbers reflect that,” Curry said of the housing market. Curry also noted there has been a drop in applications for the division of property.
Madison County Judge Executive Kent Clark took the opportunity to point out that the county’s efforts to create a development corridor along Interstate 75 has helped preserve the county’s green space and farm lands.
Clark noted that 78 percent of territory in the county is still either green space or farm land. By insuring that infrastructure is concentrated along the interstate, Clark said, the county indirectly encourages developers to locate near the interstate because infrastructure is readily available.
“What we’ve done, in a round-about way, is to encourage people not to go out in the county,” Clark said. “We like development, we encourage it, but we like them to go where the infrastructure is.”
On the bright side, building permits for projects in Madison County jumped in value from $23,143,000 to $47,583,000. According to figures provided by Curry, last year the estimated cost of business-related buildings was $3,567,959, while this year it leaped to $30,768,000.
There was also a sharp increase in projected construction costs for factories in the county, going from $0 in 2007 to $3,000,000 in 2008, according to Curry’s report. (Story continues below)
While the projected cost of multi-family dwellings increased from $178,164 in 2007 to $300,000 in 2008, construction of single family dwellings dropped slightly, from $15 million in 2007 to $10 million this year.
“Obviously the economy is down and these numbers reflect that,” Curry said of the housing market. Curry also noted there has been a drop in applications for the division of property.
Madison County Judge Executive Kent Clark took the opportunity to point out that the county’s efforts to create a development corridor along Interstate 75 has helped preserve the county’s green space and farm lands.
Clark noted that 78 percent of territory in the county is still either green space or farm land. By insuring that infrastructure is concentrated along the interstate, Clark said, the county indirectly encourages developers to locate near the interstate because infrastructure is readily available.
“What we’ve done, in a round-about way, is to encourage people not to go out in the county,” Clark said. “We like development, we encourage it, but we like them to go where the infrastructure is.”