Burbank Mayor Emily Gabel-Luddy touted the city’s strong financial health during the annual State of the City address Wednesday, pointing to the city’s hundreds of new businesses, balanced budget projections for the next five years and several infrastructure improvement projects in the pipeline.
Hosted by the Burbank Chamber of Commerce, the event drew hundreds to the Marriott Burbank Airport Hotel.
The city — which underwent a full leadership turnover in the last year with a new city manager, fire chief and the appointment of a permanent police chief — has seen sales tax revenues rebound since the recession, though revenues dipped slightly last fiscal year.
Even so, annual sales tax revenues remain stable at a little less than $30 million, up roughly $4.4 million from revenues in fiscal year 2009-10, an increase that Gabel-Luddy attributed to the city’s strong retail sector. During the past decade, property tax revenues have increased by 25%, she added.