Status Indicators: Proceeding as Anticipated | Monitoring Progress | Reviewing for Improvement | Information Unavailable
Proceeding as Anticipated
Reviewing for Improvement
Please note that Q1, Q2, Q3, and Q4 refer to the first, second, third, and fourth quarters of the Fiscal Year. The City’s Fiscal Year runs from October 1st – September 30th and is denoted by FY.
This data is private development driven and therefore staff has little control over the forecast. Although the Oil and Gas economy is beginning to show signs of life, hesitation to reinvest is still possibly due in part to the economic uncertainty surrounding the oil and gas industry. In the 3rd Quarter, the City processed 90 commercial reinvestment permits with permit values totaling $27,019,390. Year-to-date, the total permit valuation of commercial reinvestment permits comes out to $60,081,724; 73% of the City's target for the fiscal year. Current performance reflects a slightly lower performance of commercial reinvestment activity than at this time last year. While commercial reinvestment is not subject to seasonal trends, it is important to note that the measure still has the potential to meets its annual target of $82,170,221.
This measure tracks the dollar value ($) of all permits for the addition/alteration of commercial properties.
Performance better than or equal to the three-year trailing average. The target is ≥$82,170,221.
Addition/Alteration permit values are representative of real property investments going into redevelopment of commercial real estate in the City. The measure denotes value being reinvested into the community to maintain or improve property.