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 3rd Quarter 8 commercial permits were issued— 4 in April for $22.5 million, 1 in May for $1.4 million, and 3 in June for $8.4 million—this resulted in commercial permit values of $140,937,530 year to date. The annual target for this measure is ≥ $157, 177, 860. Because the total year-to-date number is over 75% of the targeted amount for the quarter, this measure is on target. Moving forward, the data calculation for this metric will include all permits and not buildings only, as previously reported. The data provided by the Permits and Inspections Department will align with the information provided by the Finance Department.
Dollar value ($) 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 FY18 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.