FY27 Proposed Budget

Goals, objectives, and performance measures

Strategic Plan Value:

Financial Resources

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 2025 Projected

Jan 2026 Estimated

Jan 2022 Jan 2023 Jan 2024

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

$ 886,297,672 $ 993,055,808 $ 1,012,976,464 $ 1,015,002,417 $ 1,017,032,422

$ 300,655,929 $ 297,711,469 $ 297,711,469 $ 298,306,892 $ 298,903,506

194.8% 233.6% 240.3% 240.7% 241.2%

$1,200,000,000

$1,000,000,000

$800,000,000

$600,000,000

$400,000,000

$200,000,000

$-

Jan 2022 Jan 2023 Jan 2024 Jan 2025 Projected

Jan 2026 Estimated

TIF Districts - $ Current Value

(in millions)

TIF Districts - $ Base Value

(in millions)

FY 2026 Projected

FY 2027 Estimated

FY 2023

FY 2024

FY 2025

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

0

1

0

3

2

# Total Urban Renewal Areas

14

11

11

10

11

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

3

2

2

2

2

3

2

0

4

2

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