Coast Annexation Called ‘Profitable’
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The city staff is certain there is money to be made by annexing the area known as Newport Coast and will report that to the City Council at its meeting Monday.
The report declares Newport Beach would realize a “net recurring revenue surplus” if it annexes the unincorporated property between Corona del Mar and Laguna Beach.
Officials had questioned whether annexation would be profitable because the city would have to provide fire and police protection and other services.
No estimate of the potential revenue has been made because the city has not negotiated an agreement with the county on the division of property tax revenue.
Once it reviews the report, the council may direct staff to begin the negotiations with the county and to discuss the issue with Newport Coast residents.
The council meets Monday at 7 p.m. at City Hall, 3300 W. Newport Blvd. Information: (714) 644-3017.
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