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City’s fiscal condition called strong

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With three consecutive years of budget surplus, including $4.8 million for fiscal 2012, Gloucester has continued its fiscally strong recent performance, Mayor Carolyn Kirk said in her annual State of the City address last Monday. Before a crowd of about 100 at the Kyrouz Auditorium at City Hall, Kirk said that the town’s Moody’s Rating was AA for the third year in a row, and she is hopeful for an upgrade in calendar year 2013. Among the initiatives on the horizon for the city: redevelopment of the 13-acre Fuller Elementary School property; updating the harbor plan for the working waterfront; breaking ground on the Beauport Hotel project; and the ribbon-cutting for the $3.5 public-private renovation of Newell Stadium, scheduled for next fall.

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