FY25 Proposed Budget

Strategic Plan Value: Department Goal:

Partnerships and Engagement

Build tax base in effort to continue to reduce the City's property tax levy

Department Objective:

Work with public and private sectors to facilitate economic development opportunities and financial incentives that grow and diversify the tax base.

Performance Measures: New Value created in TIF districts Current Value (in millions) Base Value (in millions)

Jan 2023 Projected

Jan 2024 Estimated

Jan 2020

Jan 2021

Jan 2022

$1,224.10 $401.12 205.2%

$1,235.55 $401.13 208.0%

$1,255.29 $401.13 212.9%

$1,280.40 $401.13 219.2%

$1,306.00

$401.13

226 .0 %

percent increase

$1,400.00

$1,200.00

$1,000.00

$800.00

$600.00

$400.00

$200.00

$-

Jan 2020 Jan 2021 Jan 2022 Jan 2023 Projected

Jan 2024 Estimated

Current Value (in millions) -

Base Value (in millions)

Total - All Urban Renewal Areas

FY 2024 Projected

FY 2025 Estimate

FY 2021

FY 2022

FY 2023

New

1 4

0 0

0 0

0 2

0 1

Amended

Total Urban Renewal Areas

14

14

14

14

14

Strategic Plan Goal:

Partnerships and Engagement

Build stronger relations with business owners throughout the community Develop programs aimed to enhance small business development and retention with a focus on diverse communities identify ways to market and grow the local foods economy.

Department Goal:

Department Objective:

Build Employment Opportunities

CY 2023 Projected

CY 2024 Estimate

CY 2020

CY 2021

CY 2022

Performance Measures:

Unemployment Rate

4.7%

3.8%

2.30%

2.20%

2.20%

75