{"id":323696,"date":"2010-02-15T11:02:05","date_gmt":"2010-02-15T16:02:05","guid":{"rendered":"tag:typepad.com,2003:post-6a00d8341c630a53ef012877a3aeb4970c"},"modified":"2010-02-15T11:00:15","modified_gmt":"2010-02-15T16:00:15","slug":"tony-newport-beach-not-immune-from-economic-distress","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/323696","title":{"rendered":"Tony Newport Beach not immune from economic distress"},"content":{"rendered":"<p><img decoding=\"async\" alt=\"http:\/\/latimesblogs.latimes.com\/lanow\/images\/2008\/06\/24\/newport_beach.jpg\" src=\"http:\/\/latimesblogs.latimes.com\/lanow\/images\/2008\/06\/24\/newport_beach.jpg\" style=\"width: 597px; height: 410px;\"><\/img><\/p>\n<p>Newport Beach will have about $8 million less to spend in the coming<br \/>\nfiscal year because of slumping tax revenue.<\/p>\n<p><\/br>Although<br \/>\nthe economy is slowly recovering from the recession, Newport Beach will<br \/>\ncontinue to cope with the effects of shrinking tax revenue for<br \/>\nsome time, City Manager David Kiff said.<br \/><\/br><br \/><\/br>\u201cThe bleeding has stopped, but the patient is still recovering,\u201d Kiff said.<br \/><\/br><br \/><\/br><\/p>\n<p>Newport Beach experienced an 18% decline in sales tax revenue in the last fiscal year, according to a city report.<\/p>\n<\/p>\n<p>The<br \/>\ndownward trend has continued into this fiscal year \u2014 with sales<br \/>\ntax revenue slumping an additional 8.4% compared with the previous<br \/>\nyear. Hotel occupancy taxes are down 23%, according to the report.<\/p>\n<p><a href=\"http:\/\/www.dailypilot.com\/articles\/2010\/02\/12\/politics\/dpt-budget011210.txt\">Read the full story here.<\/a><\/p>\n<p>&#8211;Brianna Bailey<\/p>\n<p>Photo: L.A. Times file<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Newport Beach will have about $8 million less to spend in the coming fiscal year because of slumping tax revenue. Although the economy is slowly recovering from the recession, Newport Beach will continue to cope with the effects of shrinking tax revenue for some time, City Manager David Kiff said.\u201cThe bleeding has stopped, but the [&hellip;]<\/p>\n","protected":false},"author":4131,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-323696","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/323696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4131"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=323696"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/323696\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=323696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=323696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=323696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}