You are currently browsing the Burbank Real Estate Report weblog archives for the day 5. November 2007.
5. November 2007 by Ana Connell.
Burbank Mayor Marsha Ramos gave a positive report on the state of Burbank. In her annual State of the City address she emphasized how “robust” Burbank’s economic outlook is along with with the City Council’s committment to maintain a community with positive opportunities for it’s residents.
Unemployment in Burbank is at 3.9%, which is lower than the California state average of 5.3%. Mayor Ramos highlighted that five years ago the median price of a home was $256,000, today it’s $650,000 and that despite the current downturn area prices remain an excellent investment.
Focus was given to the communications system that allows police, fire and other safety agencies to remain in contact during emergencies. It was also mentioned that the Lake/Alameda area will get a walking path with lighting, native plants and doggie stations.
Items of note for this week’s City Council meeting:
Study session for Downtown parking. Looking for ways to improve shopping and parking in the downtown area.
Platt Project - Rick Platt, developer of the project, a planned 220 residential units and 20,451 sq. ft. of shops at 3400 Olive, filed for bankruptcy. City has the right to terminate the current agreement, staff is expected to recommend that council waive the cancellation hearings.
Last week the council did approve the purchase of 5 new Compressed Natural Gas buses(City will receive a $1M+ grant from LA County MTA with a local match of $450,000).
Also approved was the landscaping of portions of Downtown Burbank with $355,000 in redevelopment funds.
The Burbank City Council meets at City Council Chambers in City Hall, 275 E. Olive Ave. Tuesday at 6:00pm.
Don’t forget that you can watch the City Council meetings live on Charter Communications Channel 6 or online at City of Burbank’s website.
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