Lacey feeling economic pinch

Lacey City Manager Greg Cuoio told some 210 members of the Lacey Chamber of Commerce that while the fiscal health of Lacey was good, the economic downturn has made itself felt.

Cuoio made his annual “State of the City” address at a Wednesday meeting at the Worthington Center.

Cuoio said the last six months has seen a continual drop in sales tax revenue to the city.  Real Estate Excise tax and Building Permit fees also show a significant decrease.   Because of that, he has directed city staff to find $2 million dollars in belt tightening spending.

“There’s a cycle to these economic bad times,” Cuoio said.  “They will end and things will turn around.”

Overall the city manager said, the fiscal health of Lacey was good in the short term and the long term.