Visalia General Fund Shows Nice Surplus
Visalia’s economy seems to be recovering from the economic downturn like the rest of the State. Last fiscal year was the first time in 5 years the projected revenues exceeded operating expenditures. The city’s General Fund is projected to have a surplus of $4.0 million for fiscal year 13/14 and $1.8 million in 14/15.The main reason for this improvement says a city memo, has been the larger than expected growth in sales tax. The growth is being driven by several factors, namely: increased auto sales, Industrial Park sales tax growth from existing and new businesses and general improvement of retail sales.
Court Battle:Bryce Ruiz vs Ruiz Food Products Inc
Tulare County’s largest private company,Dinuba’s Ruiz Foods Products Inc, is in the middle of a family feud of sorts. Founded by Fred Ruiz in 1965, the Mexican frozen food company is in a now public dispute involving Fred’s son Bryce, the former CEO from 2009 to 2012, who is suing the company in Tulare County Superior Court.
Bryce says in court documents that he had a severance agreement with the firm that was breached. Bryce claims he still owns one third of the shares of Ruiz Foods Products. He seeks a non-voluntary dissolving of the corporation after he claims the bylaws were violated. A judge decided this week in favor of Bryce in a preliminary ruling that will take the matter to a court hearing. To protect “trade secrets” some matters are sealed. One 2010 estimate listed annual sales of the private food maker at $453 million with a staff of 2500.
County Seeks To Pare Rural Subdivisions
Two rural subdivisions,one near Woodlake and another near Springville have been rejected by the county Planning Commission but could still see the light of day. The Tulare County Board of Supervisors will hear a staff recommendation next Tuesday not to reject a a planned 68 unit home subdivision near River Island above Porterville but to reduce its size before it is approved.It is possible that could happen to a project near Woodlake on Colvin Mountain too. Called Elderwood Heights, this subdivision was denied by the Planing Commission March 12. But the PC rulings are advisory and the BOS will have the final word. Neighbors near both projects raise concerns over water and traffic. Ironically the Woodlake project would use a fraction of the water an orange grove does says a staff report.
County Jobless Rate Falls
The unemployment rate in the Tulare County was 15.1 percent in February 2014, down from a revised 15.2 percent in January 2014, and below the year-ago estimate of 15.7 percent. Year-over-year farm jobs fell by 2000,perhaps the first sign the drought may hurt ag jobs. But non-farm jobs increased by more.
Mugs & Beans To Open Eatery Near Hospital
A new restaurant will open in the 202 Willow, the five story medical building next to Kaweah Delta. The eatery – Mugs & Beans seeks a conditional use permit through the city Planning Commission April 11 says realtor Marty Zeeb.
February Hotel Receipts Up
Room revenue for hotels in Tulare County were up 7.6% in February compared to the same month a year ago according to Smith Travel. The average daily rate climbed from $93.64 a year ago to $98.38.
Existing Home Sales Decline,Median Price Up
Tulare County’s existing home sales fell in February from 282 to 246 while the median value of homes sold climbed 18.1%, over that year, from $133,000 to $155,000.
Self-Help May Build Multi-Family Project in Visalia
Home building has rebounded in the recovery but not in the multi-family category.There have been no multi-family permits issued in Visalia since 2011 when 3 projects with a total of 10 units were permitted. Now Self Help Enterprise is planning to build a 36 unit complex on Highland near Fairview School.”We hope to start building it later this year” says vice president Tom Collishaw.The non-profit has helped people build about 80 single-family homes in town but this would be the first apartment project. Self Help recently reached the remarkable milestone of 6,000 homes built since they started in 1965. Collishaw is expected to replace Peter Carey as CEO in July. Carey served more than 40 years with the organization.
Holy Cow! Record Cheese Prices
Dairy food prices are soaring on record export demand, some good news for Tulare County – the nation’s number one milk producing county.This week block cheese prices reached a record $2.43 per lb. on the CME.