Page 345 - Bedford-FY23-24 Budget

ACTUAL TARGET PROJECTED TARGET
MEASURE TYPE
21/22 22 /23 22 /23 23/24

Economic Development
Gross Retail Square Footage Input 2.9M 2.9M 2.9M 2.9M
Gross Of ce Square Footage Input 2.7M 2.7M 2.7M 2.7M
Labor Force Input 31,940 32,000 30,622 31,000
Total Population Input 49,930 49,950 49,267 49,300
# of Total Businesses Input 1,315 1,320 1,318 1,320
Taxable Commercial Real Property Value (millions) Output $290M $295M $290M $295M
New Taxable Commercial Property Value (millions) Output $48M $5M $11M $5M
Taxable Business Property Value (millions) Output $35M $29M $22M $29M
# of New Residential Units Output 3 55 25 30
Total Sales Tax Revenue (millions) Output $16M $13M $13M $13M
# of New Businesses Output 100 80 100 80
Commercial Remodel Values (millions) Output $17M $25M $17M $25M
Total Taxable Property Values (billions) Output $1.09B $5.50B $5.79B $6.00B
Taxable Property Value per $1 Economic Development Ef ciency $1,524 $1,400 $3,063 $1,500
Budget
# of Unique Visitors to Economic Development Web Ef ciency 238 150 215 200
Page Annually
Effectiveness
Taxable Sales per Capita $3,117 $4,217 $3,267 $4,200
& Outcomes
Effectiveness
Taxable Sales Per Business $118,350 $150,000 $122,015 $150,000
& Outcomes
Effectiveness
Single Family Appraised Property Value $266,116 $280,000 $266,116 $299,000
& Outcomes
Effectiveness
% Change in Taxable Commercial Property Value 8% 12% 10% 10%
& Outcomes
Effectiveness
% Change in Taxable Residential Property Value 2% 4% -1% 4%
& Outcomes

Planning and Zoning
# of Ordinances/Resolutions Presented to City Council Input 6 10 10 10
# of Variances/Special Exceptions Input 0 3 2 3
# of Civic/Special Event/Outside Sales Permits Input 98 65 80 65
# of Rezonings - Staff Reports/Ordinances Output 11 10 10 10
# of Speci c Use Permits - Staff Reports/Ordinances Output 9 16 20 15
# of Platting (Amended Plats, Replats, Preliminary and Output 5 6 8 6
Final Plats) - Recorded Plats
# of Variances and Special Exceptions - Case
Introduction Output 1 3 1 3
# of Site Plans - Staff Reports/Resolutions Output 0 5 5 5
# of Text Amendments -Staff Reports/Ordinances Output 2 5 8 5
# of Development Review Committee Meetings Output 18 20 22 20
Attended
# of Planning and Zoning Meetings Attended Output 14 20 20 20
# of Zoning Board of Adjustment Meetings Attended Output 0 3 1 3
# of City Council Meetings Attended Output 18 20 20 20
# of Workshops with Planning and Zoning Commission
Attended Output 2 1 4 1
% of Zoning/Platting Reviews Completed in 3 Days Ef ciency 100% 100% 100% 100%
% of Civic/Special Event/Outside Sales Permits Ef ciency 100% 100% 100% 100%
Completed in 7 Days

City of Bedford, TX | Proposed Budget FY 2023-2024 Page 345