Page 174 - City of Bedford FY21 Budget

Fund: General
Department: Development
Division: Economic Development

PERFORMANCE MEASURES

ACTUAL TARGET PROJECTED TARGET
Indicator
18/19 19/20 19/20 20/21
INPUTS
Gross Retail Square Footage 2,943,502 2,950,000 2,945,000 2,950,000
Gross Office Square Footage 2,587,218 2,600,000 2,588,000 2,600,000
Labor Force 31,093 32,000 31,000 32,000
Total Population 49,330 49,500 49,526 49,638
# of Total Businesses 1,357 1,375 1,360 1,375
OUTPUTS
Taxable Commercial Real Property Value (millions) $1,776.02 $1,800.00 $1,800.00 $1,800.00
"New" Taxable Commercial Property Value (millions) $1.25 $10.00 $8.00 $10.00
Taxable Business Property Value (millions) $215.57 $215.00 $215.00 $215.00
# of New Residential Units 2 10 2 10
Total Taxable Sales (millions) $233.73 $220.00 $220.00 $220.00
# of New Businesses 104 125 100 125
# of Shop Bedford First Participants 75 100 80 80
Commercial Remodel Values (millions) $15.96 $2.00 $5.00 $2.00
Total Taxable Property Values (billions) $4.32 $4.25 $4.25 $4.25
EFFICIENCY
Taxable Property Value per $1 Economic Development Budget $14,206 $23,000 $15,000 $15,000
Taxable Sales per $1 Economic Development Budget $1,297 $1,300 $1,300 $1,300
# of Unique Visitors to Economic Development Web Page Annually 50 100 200 100
Division Budget as a % of General Fund 0.41% 0.77% 0.84% 0.86%
EFFECTIVENESS & OUTCOMES
Taxable Sales per Capita $4,286 $4,500 $4,000 $4,500
Taxable Sales per Business $155,813 $155,000 $155,000 $155,000
Single Family Appraised Property Value $233,163 $233,000 $233,000 $235,000
% Change in Taxable Sales 5.9% 6% 6% 6%
% Change in Taxable Commercial Property 7.1% 3% 5% 3%
% Change in Taxable Residential Property Value 7.3% 3% 5% 3%

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