Page 176 - City of Bedford FY20 Approved Budget

Fund: General
Department: Development
Division: Economic Development

PERFORMANCE MEASURES

ACTUAL TARGET PROJECTED TARGET
Indicator
17/18 18/19 18/19 19/20
INPUTS
Gross Retail Square Footage 2,943,502 2,900,000 2,945,000 2,950,000
Gross Office Square Footage 2,587,218 2,638,500 2,585,000 2,600,000
Labor Force 30,561 30,600 31,150 32,000
Total Population 49,330 49,355 49,500 49,500
# of Total Businesses 1,369 1,375 1,375 1,375
OUTPUTS
Taxable Commercial Real Property Value (millions) $1,654.90 $1,655.00 $1,700.00 $1,800.00
"New" Taxable Commercial Property Value (millions) $11.17 $5.50 $10.00 $10.00
Taxable Business Property Value (millions) $166.52 $178.00 $200.00 $215.00
# of New Residential Units 7 10 14 10
Total Taxable Sales (millions) $211.44 $220.00 $220.00 $220.00
# of New Businesses 127 135 125 125
# of Shop Bedford First Participants 152 160 155 150
Commercial Remodel Values (millions) $8.81 $2.00 $10.00 $2.00
Total Taxable Property Values (billions) $3.99 $4.00 $4.25 $4.25
EFFICIENCY
Taxable Property Value per $1 Economic Development Budget $23,014 $23,150 $23,000 $23,000
Taxable Sales per $1 Economic Development Budget $1,219 $1,300 $1,250 $1,300
# of Unique Visitors to Economic Development Web Page Annually 292 100 100 100
Division Budget as a % of General Fund 0.31% 0.57% 0.42% 0.77%
EFFECTIVENESS & OUTCOMES
Taxable Sales per Capita $4,286 $4,500 $4,500 $4,500
Taxable Sales per Business $154,222 $160,000 $155,000 $155,000
Single Family Appraised Property Value $216,097 $216,097 $220,239 $233,000
% Change in Taxable Sales 2.9% 3% 5% 3%
% Change in Taxable Commercial Property 14.6% 3% 7% 3%
% Change in Taxable Residential Property Value 23.5% 3% 7% 3%

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