Council can consider Regal Street rezoning
The Spokane City Council likely will get a chance to determine if zoning should be changed near Regal Street and the Palouse Highway to allow construction of big-box stores.
City Hearing Examiner Greg Smith ruled this week that the Spokane planning department was correct when it determined that a zoning proposal would not create significant negative impacts under the State Environmental Policy Act.
Dave Black, of Black Development, wants to change the zoning of a 12- and a 15-acre parcel on Regal Street, south of Palouse Highway, to allow for the construction of big-box stores.
Last month, Black said he was uncertain what he would build on the land, but he ruled out Wal-Mart.
Virginia Patano, who lives in the area, appealed the planning department’s decision on behalf of the Southgate Neighborhood Council.
Smith’s ruling means the proposed change to the comprehensive plan – the city’s long-term growth guide – can move forward to City Council.
OLYMPIA
SNAP getting $205,000 for low-income families
Spokane Neighborhood Action Programs will receive $205,000 to help low-income working families invest in home ownership, education and small businesses, according to a Wednesday news release from the state Department of Community, Trade and Economic Development.
CTED announced that $830,000 will be awarded to counties statewide to assist more than 300 families through dollar-for-dollar matched savings accounts called individual development accounts. Participants in the program have three years to save and can receive up to $4,000 in matching funds toward their goals. They also learn money management skills.
SNAP’s portion of the funds will assist at least 82 households. SNAP also has raised more than $200,000 in additional funds, the release said.
SEATTLE
Flatter Starbucks sales have analysts wondering
With its affluent customer base and uncanny knack for drawing crowds, Starbucks Corp. has long seemed immune from the slowdowns that plague most retailers when the economy falters.
But the king of the $4 coffee is feeling the pinch. Dairy prices have skyrocketed, fast-food chains have made it easier to find a good cup of joe, and traffic in U.S. stores has flattened amid high fuel prices and turmoil in the housing and credit markets.
Add it all up, and it’s dragged the company’s stock down nearly 40 percent in the past year.
The company reports earnings today for its fourth fiscal quarter, which ended in early October. Analysts polled by Thomson Financial are projecting Starbucks will earn 21 cents a share on $2.43 billion in revenue.
While many analysts remain bullish on the company’s long-term growth prospects, they’re keeping a close eye on same-store sales – a key measure of a retailer’s health – and some are wondering if certain U.S. markets have become saturated.