More properties are being sold and redeveloped on Hilton Head Island, according to town financial statements.
A mid-year report of the 2012-2013 fiscal year, which began in July, shows revenue from real estate transfer fees has increased 20 percent compared to last year, and construction-permit revenue is up 28 percent, according to Susan Simmons, director of finance for the Town of Hilton Head Island. Redevelopment projects accounted for about two-thirds of the construction-permit revenue.
The financial statements will be reviewed by Town Council at 4 p.m. today.
Check back with The Island Packet and Beaufort Gazette for updates, and follow reporter Brian Heffernan at twitter.com/IPBG_Brian.
Follow reporter Brian Heffernan at twitter.com/IPBG_Brian
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Hilton Head budget calls for drops in debt, projects spending; no tax increase, May 1, 2012
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