FY26 Proposed Budget

Goals, objectives, and performance measures

Financial Resources

Strategic Plan Value:

Grow the tax base, consider alternative revenue sources, and leverage outside funding to maintain core services and pursue community priorities while maintaining equitable property tax rates Consider financial incentives and land use policies that aim to grow and diversify the tax base

Department Goal:

Department Objective:

Jan 2024 Projected

Jan 2025 Estimated

Jan 2021

Jan 2022

Jan 2023

Performance Measures:

TIF Districts - $ Current Value (in millions) TIF Districts - $ Base Value (in millions) % Percent Increase - TIF Districts Value

$ 51,321,351

$ 52,317,755

$ 61,596,295

$ 61,596,295

$ 63,000,000

$ 26,196,590

$ 26,196,590

$ 26,196,590

$ 26,196,590

$ 26,196,590

95.9%

99.7%

135.1%

135.1%

140.0%

$- $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000

Jan 2021

Jan 2022

Jan 2023

Jan 2024 Projected

Jan 2025 Estimated

TIF Districts - $ Current Value

(in millions) -

TIF Districts - $ Base Value

(in millions)

FY 2025 Projected

FY 2026 Estimated

FY 2022

FY 2023

FY 2024

Performance Measures: # New URAs created or existing URAs Amended for New Urban Renewal Projects

0

0

1

2

1

# Total Urban Renewal Areas

14

14

11

11

12

# Tax exemption incentives to encourage commercial infill and redevelopment # Economic Development grants and incentives for projects advancing climate action and/or historic preservation goals

0

3

2

2

2

3

3

2

3

1

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