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Austerity drive keeps Emmen in the black
Tags: Excerpts from the Windmill
EMMEN – The municipal real estate development arm has suffered a €10 million loss on residential and industrial building lots in 2011, which has prompted council to stop work on several projects around the southeastern Drenthe jurisdiction. The loss is attributed to a drop in real estate values. The municipality still managed to end the year in the black. Extensive pruning in its budget resulted in showing a €1,5 million surplus. Emmen’s austerity drive pared the budget by €22 million in 2011, in 2012 by another €18 million. Emmen is home to a population of about 110.000 who reside in an area of over 346 square kilometers. Real estate values in the Netherlands have been on the decline for a couple of years already.