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Show The National Enterprise, May 11, 1977 Page Spending money seems to be a problem Seeking advice about how to spend $850,000 in tax increment money, the Salt Lake City Redevelopment Board will conduct two public hearings May 18 and 19. Current proposed projects include constructing curb, gutter, sidewalk and pavement along 2nd West between 5th South and South Temple ($400,000); constructing new sidewalks along Broadway between Main and State, along State between Broadway and 2nd South and along 2nd South between Main and State ($250,000); installing lighting fixtures along pedestrian areas of Main Street between South Temple and Broadway ($40,000); site improvement of the Performing Arts Center ($100,000) and a study of three new blocks proposed for inclusion in the The future looks uncertain; market sags in mini-boom tax increment service district ($25,000). by Donald C. Bauder Copley News Service Following the two public hearings in May, another hearing will be conducted by city Once again, the stock market and the economic statistics are going off in different commissioners June 16. directions. Tax increment funds are gen- The market is sagging downward. But the economic statistics retail sales, durable goods, construction, private sector productivity, factory orders, the leading indicators are pointing rigidly upward. erated by taxes levied on property in the service district. As the funded projects are executed, the value of the property theoretically rises, increasing the amount of money generated in taxes. Last year $825,000 was available for projects, but the Is one or the other a liar? Not necessarily. bald-face- Redevelopment Agency spent only $300,000 of its budget allowance, since one project (repavement of 2nd West) was not executed during the last fiscal year. It is scheduled for execution this summer. from private (The city Invesments Co., 12711-Marinwo- o, SLC. Limited Partnership, 295 South Redwood Rd., North Salt Lake; Jerry G. Hofhiens, 3104 Connor Street, SLC. Heights Associates, 4600 Holladay Blvd., Consolidated Cap. Corp.. 4600 Holladay Blvd., Richard E. Chipman. 3691 Brighton Point Dr., SLC. 12715-KilbuInvestment, James M. Clark 6983 South 1520 West, West Jordan. Ut. Center Associates, 1102 Newhouse Bldg., 10 Exchange PI.. Western Woodlands, Inc., 1102 Newhouse Bldg., g SLC. Ltd., G. Walter Gasser and Walt Gasser and Associates, Inc.. 220 South 2nd East, Suite 340; G. Walter Gasser, 2352 12717-G.F.I- ., South 750 East, Bountiful, Utah. I dont think the market is think were headed for more inflation in 1978 and the market is going to get whip-sawe- In fact, Microcomputers manager. Automated Dispatching The former committee, studying possible changes in the law, met for the first time last week. Acting as advisory groups to the mayor and city commission, neither committee has regulatory or law making powers. f I d. 4 4 he foresees this years real (after inflation) economic growth of 5.2 percent dropping to 4.8 percent next year, while consumer prices rise from 6.1 percent to 6.6. Now for the fourth hear this: Telecommunications quarter Providing BETTER Technology next of year, Markowski s computers are negative real calling for that is, a shrinkgrowth age of the economy. 4 4 1790 West 3500 South (801) 972-873- 0 Suite C Salt Lake City, Utah 84119 Will that be the first leg of the I dont next recession? said Markowski. know, Maybe we should call it to mris ilj T -- f 8 S i j .1 AWJ JLiJi A safe at home is the key to accessibility and peace of mind. A safe at home or in the office is also the key to privacy; no one but you can open it. No tax people, bank clerks. And a home safe is safe from probate. We sell a variety of home safes with a wide range of prices. Write or call for information today. Home, Sweet Home is a safe at home. 12714-Northrfd- ge 12716-Learnin- market six five months or looking ahead to a gloomy economy? todays gloomy Process Control Systems 12713-H.F.- ni Then in late 1974 and early 1975, just as the economy ivas plunging to the bottom of the wrorst recession in 40 years, a robust stock market was forecorrectly. seeing an upturn points), but, although I can see it going up, Im a seller I'm not a buyer. 1287 Marinwood Ave., Taylorsville; Don A. Stringham, 200 North Main, SLC. 12712-JescLtd., 3930 Oliver Drive; Joseph E. Sasich and Ann Sasich, 3930 Oliver Dr., and the market was ful right. 100 Business Systems property re nt the economy looked beautiful but the market piti1974, I nications owner, Jerome Mooney, Jr., developer; Alex Oblad, University of Utah mineralogist and E. Woodrow : several years ago. But in recent history, the market has been a good predictor. In late 1973 and early side (that is, the Dow Jones Industrial Average going up Problem-Solvin- g George Hatch, local commu- H put-dow- I can still see 100 points in the Dow on the up- Specialists in created a P-- 1 zone where little or no development can take place. It is this property the committee will be looking at.) Partnerships 12705-EmpiInvestments, 234 East 7890 South. Sandy; Gyde L. Biesinger, 234 East 7890 South, Sandy; L. Ronald Taggart. 1040 East 500 North, Lehi, Ut.; Fred W. Weidner, Jr., Attorney, 321 East 4140 South 6. SLC, Utah. 12706-KeMinerals Inc., 1810 Fortune Road; Robert L. Willaims and Gary V. Smith. South Partnership, Wallace Ohran and Maurine d. Ohran, 179 West 4750 North, Provo, Utah. 1 27 08- - Coronado Investment Company, 3940 Hale Drive, J. Earl Hurst and Kaye A. Hurst. 1955 south 1300 East, SLC. 12709-C.B.Investments, 4535 Tjayn Drive, Granger, Carl B. Allgrunn, Don A. Stringham, Michael Albert Allgrunn. 12710-J.E.G- . Investments, 5316 West Hunter Dr., Hunter, Joseph E. Grange, 5316 West Hunter Dr., Hunter. Some economists consider WORLD DATA SYSTEMS INC. ordinance The latter committee consists of Jefferson Fordham, University of Utah college of law; ordinance d The market has predicted seven of the last four recessions, harumphed one n economist in a notable & Co. committee will study the possibility of changing the ordinance: William Thurman, attorney who represents Bernard Brockbank, a developer; Beth Shrock and Hermoine Jex, representing the Avenues and Capitol Hill community councils, James Jardine, an attorney representing the citizens at large, plus city representatives Vem Jorgensen and Roger Cutler. Another committee will study the possibility of the city purchasing land impacted by the fact, mis- economics division Wall Streets Sanford C. Bernstein owners. Walton, the Standard & Poor's 500 average accounts for 8.99 percent of the leading indicators, a monthly statistical compilation of 12 indexes which theoretically move in advance of the economy. In March, the leading indicators index was up a reassuring 1.4 percent but the market was one of four components moving unfavorably.) (In the stock market a very leading weather vane. too much of a liar, said Paul J. Markowski of the Group IV Salt Lake City commissioners have appointed two commit- tees to study the impact of the recently passed ordinance re- stricting foothill development. seven-perso- n The stock market is supposed to be an advance indicator of the economy a portent of things to come. Is City may offer relief to developers One twenty-fiv- e Glen's Lock & Key 1205 S. 355-341- 3 State If more negslumpflation. ative growth quarters follow, it would be a recession. Both the stock market and current economic statistics are said Arnold X. right, Moskowitz of Wall Streets Dean Witter. The market is a good discounter (advance indicator) of the economy 10 months ahead. And its not a pleasant pic- ture. Witters special measure of retained earnings minus pretax inventory profits, called keep profits, dropped from $37 billion in last years third quarter to $28 billion in the a first quarter of this year 35 percent drop in six months, he said. The market is foreseeing a liquidity squeeze in the private sector. Were going to have a mini-booand a m mini-bus- t. |