Strong Local Economy
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.
In the 4th Quarter 16 commercial permits were issued— 10 in July for $3.5 million, 3 in August for $10.6 million, and 3 in September for $14.6 million—this resulted in commercial permit values of $28,710,317, bringing the year-to-date total to $124,622,826. The annual target for this measure is ≥ $157, 177, 860. Because the total year-to-date number is not greater than or equal to $157,177,860, this goal measure did not meet its target.
It is important to note that revenue collection has spiked over the last 4 fiscal years (FY16, 15, 14, and 13) due to the permitting of major commercial projects such as Watercrest at Imperial Park and Houston Methodist Sugar Land.
Dollar value ($) of all permits for new commercial construction. This metric will be reported in regards to non-taxable and taxable entities.
Performance above the 3 year trailing average for permit values for taxable and non-taxable entities. The target for FY17 is ≥$157, 177, 860.
Taxable permit values are subject to taxation, and represent property uses including, but not limited to, entertainment venues and retailers. Non-taxable, or tax exempt, permit values is a term that pertains to property used for education, religious, or charitable purposes.
Permit values are representative of real property investment which furthers the development of commercial real estate in the City. The measure provides a general demonstration of the extent of new development in the City.