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City Managers Report - FY15 Annual Report FY 2015 Annual Development Activity Report and Quarterly Update City Manager’s Report Good Evening Mayor and members of the City Council. This presentation will provide a brief overview of the FY 2015 Annual Development Report as well as the first quarter of FY 2016 Quarterly Update to the Annual Report. 1 Annual Development Activity Report Purpose Monitor the state of Southlake’s economy, development & financial trends; Understand the nature of local development. The FY 2015 Annual Development Activity Report represents the second year which the Southlake Planning Department has produced a comprehensive report of this kind. The Annual Development Report was created to be a consolidated resource for a resident, visitor, someone interested in moving to or doing business in the City, to easily find information on Southlake’s economy, development, and financial trends. The Report is intended to convey to the reader the City’s strong financial position, as well as the quality and type of development that is occurring in the City. The report is a collaborative effort between Planning and Development Services, Economic Development, Finance, Public Works and the City Manager’s Office 2 Annual Report Sections and Information City Overview Economic Overview Understanding Development Development Highlights Valuation Revenue The Annual Report is divided up into 6 sections, with the “Understanding Development” section being a new addition to this year’s report. The City Overview section (p.5) provides a brief informational overview of the City of Southlake. This includes demographic information, financial status, selected traffic counts, recreation opportunities, school systems information and heath care opportunities. The Economic Overview (p.9) section provides a few highlights of the Southlake economy, such as the information related to the labor force and economic base as well as residential information such as average home sales price and average number of days on the market. The Understanding Development section (p. 17) explains the development process in the City of Southlake as well as introduces the Planning and Development Services Department. This section is new to this year’s Annual Report. The Development Highlights section (p.23) focuses on development activity within the City during Fiscal Year 2015 as well as provides trend analysis for certain categories such as construction related permits, permit value, square footage added and sign permits. Additionally, this section provided an update on a few of the large-scale developments within Southlake, such as Park Village and the Cambria Hotel. The Valuation section (p. 31) provides updated numbers related to City valuation and taxable value. Finally, the Revenue section of the report (p. 37) highlights revenue trends in selected areas over the last 5 fiscal years. Revenue sources include fees collected from building permits, sign permits and selected taxes. 3 Selected FY 2015 Development Highlights 272 New Residential Permits 27 New Commercial Permits 988,907 Commercial Square Feet Permitted 352 Sign Permits issued $128,244,794 in Residential Valuation Added $2,350,810 Collected in Fees from Processing Building Permits 184 Planning Applications Processed For many of the sections, a 5-year trend analysis is provided to give a broader history on particular information. 272 New Residential Permits in FY 2015 up from 197 New Residential Permits in FY 2014 (p.27) 27 New Commercial Permits in FY 2015 down from 42 permits New Commercial Permits in FY 2014 (p. 27) 988,907 Commercial Square Feet Permitted in FY 2015 up from 630,277 commercial square feet permitted in FY 2014 (p. 29) 352 sign permits issued in FY 2015 up from 286 sign permits issued in FY 2014 (p. 30) $128,244,794 in residential valuation added up from $70,273,066 in FY 2014 (p. 32) $2,350,810 Collected in Building Permit fees in FY 2015 up from $1,879,255 in FY 2014 (p. 45) 184 Planning Applications Processed in FY 2015 down from 217 Planning Applications processed in FY 2014 (p. 18) 4 FY 2016 Q1 Development Update Quarterly updates are made to selected development-related data within the Annual Report Quarterly updates are posted to the City’s Website A few days after the end of each quarter, updates to selected information within the report are provided. These quarterly updates are posted after each quarter, and provide information before the Annual Report is published. Some of the selected items within the quarterly updates include: Number of planning applications, number of home sales, number of new residential permits issued, and more. These reports are posted to the City’s website. 5 Questions? 6 The Annual Report has already been posted to the City’s website, as well as the FY 2016 Q1 Quarterly Update.