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<br />have taxes not gone up with living costs but new forms of taxation <br /> <br />have not been sought out as in other communities. At the same <br /> <br />time electric rates were lowered to be identical with those of the <br /> <br />regulated private power company. This was of financial aid to <br /> <br />business and residents. The Council has just recently heeded <br /> <br />the plea of one segment of our business in acting to give relief <br /> <br />in a consumers tax that was adversely affecting such business. <br /> <br />The Council is presently conducting a study of other business <br /> <br />license taxes to eliminate any inequities that may exist due to <br /> <br />changing busines s conditions. <br /> <br />Aside from economy in spending and from taxation which gives <br /> <br />us one of the lower property tax rates of Virginian cities, this <br /> <br />municipality has moved in a forthright manner to aid the growth <br /> <br />and prosperity of business in many other ways. Parking lots and <br /> <br />unsnarled traffic has. done much to aid our merchants. Business <br /> <br />research shows that each off- street parking space provided <br /> <br />increases community comrnerce by several thousand dollars a <br /> <br />year. We have done more for 011r size to provide downtown <br /> <br />parking than any other city in the State. <br /> <br />Streets have been widened, curbs cut back and modern traffic <br /> <br />devices are constantly being installed to ease traffic congestion. <br /> <br />The new four-lane thoroughfare through the City will do much to <br /> <br />- 2 - <br /> <br />1 <br />