Southshore Condominiums
Vue 180 Residential Development
Monmouth Row Residential Development
Aqua on the Levee Residential and Hotel Development
Hampton Inn & Suites Hotel Development
Nexigen Communications
Ethos Labs
St. Elizabeth Healthcare Urgent Care Development
Newport Pavilion Retail Center Development
Route 9 Connector Road
New Riff Distillery and Rickhouse East and West campuses
City-wide street light conversion to LED
Redevelopment of historic Green Line bus barn
Purchase of new Public Works facility
Redevelopment of Carothers Road
Clifton Hills Senior Citizens Residential Development
BB Riverboats Redevelopment
Millions of dollars of single-family home construction and rehab
Street and sidewalk repairs and restoration in excess of $8M
Significant infrastructure repairs dealing with water runoff issues
Ongoing improvements to Riverfront Commons
These projects are just a few of the many improvements and developments during this 15-year period. In 2020, we celebrated many ground breakings and ribbon cuttings throughout the city. Corporex completed construction of the Music Venue and will begin construction of a hotel and office building in the near future. The Route 9 project is nearing completion of its final phase, opening a new growth corridor for the city. The Academy on Fourth residential development was completed bringing new residents to the downtown area. Newport on the Levee, under new ownership, has also commenced a $100M renovation. When complete the levee will present a new vision and a fresh new look.
On the fiscal side, the city has continued its work on on improving and stabilizing our finances. For the calendar year, the city ended with a general fund cash balance of $4,308,020, an increase of $882,140 from 2019. We have also established reserve funds for compensated absences, equipment and legacy pension obligations. Our fiscal year 2020 budget ended with revenues surpassing our budgeted projections.
Over the last six years, the city’s net payroll revenues have increased by $1,348,181. In 2020 ,the city gained a net 72 new companies and 263 net new employees. This growth is critical since payroll taxes are our primary source of revenue, accounting for approximately 32% of our budget. Some of our largest businesses are PL Marketing, Kroger, Defender Direct, Divisions, Inc., Impact Sales, St. Elizabeth, DJ Joseph Co., National Band and Tag Co. Inc., I-Wireless and Nexigen Communications.
While many great things are happening in the city, we also are confronted with ongoing serious challenges. Rising costs related to personnel – specifically, crippling increases in pension costs dictated by the state pension system – are expected to add $1.2M to our pension contribution. Due to these increases and other rising costs, we are continually examining ways to maintain an excellent level of service in the future within the constraints of our revenue.
Perhaps the most difficult challenge for Newport and for surrounding cities is addressing the delivery of public services to our residents. We continue to operate with a very small, efficient staff and make every effort to provide a high quality of service in a cost-effective manner (having reduced city staffing by nearly 30 employees in recent years). Currently, we have approximately 114 full-time employees, with more than 80 in public safety.
The city continues to invest heavily in our infrastructure and equipment, however the aging infrastructure and rising costs continue to be a significant issue. During the next few years, we anticipate spending several million dollars on infrastructure-related projects and equipment acquisition, including upgrades to the 800 MHz radio system used for public safety. The fiscal year 2021 and fiscal year 2022 budget and work priorities include a focus on capital improvements, such as South Monmouth corridor improvements and Festival Park renovation.
Much was accomplished in 2020, and 2021 continues to look very promising. Construction on Ovation and changes at Newport on the Levee will continue throughout the year and beyond. Construction on Carothers Road and design work on South Monmouth street (US 27) will commence and continue throughout the next few years, including a partnership with surrounding cities on smart corridor initiatives. Development of a mixed-use hotel and office development is also expected to begin during the year on the site adjacent to the Peace Bell. We will also continue with our City- wide street and sidewalk repaving program and streetscape improvements on Monmouth Street. The Baptist Home condominium development is scheduled to be near completion and the 13th Street Citi-Rama project will begin construction in late spring. We also plan on finishing The Comprehensive Plan 5-year review as required by statute.
Our goals for 2021 continue to include further redevelopment of residential and commercial properties; working on quality-of-life issues, such as parks and recreation; and maintaining a safe, walkable community. From a fiscal perspective, we continue working on growing revenues, improving our credit rating and keeping our expenses reasonable.
The goals for 2021 are listed in their entirety in our Annual Report and metrics can be found on our online transparency portal.
The Newport City Building continues to remain closed to the public. During the City Building’s closure to the public, all departments continue to function processing occupation licenses, tax payments, certificates of appropriateness (COA), development project requests, sign requests, public works projects, the Newport Forward Comprehensive Plan, etc., to keep the city moving forward.
Most required applications are available on the city website for processing via email or the city lockbox inside the entry doors at 998 Monmouth Street.
Meetings of the Board of Commissioners, Board of Adjustments, Planning & Zoning, and Historic Preservation will be available for viewing on the city’s Facebook page. Please check the city’s website for dates and times of meetings.
Newport’s Online Resources:
Newport History Museum @ The Southgate Street School’s Facebook page.
Great things are happening in Newport! Thanks for making Newport a Great place to live, work, shop and play!
