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excellent measure of increased corporate and leisure travel, which is a good indicator of the overall economy. So too is the number of business licenses issued, and accompanying revenues received, annually. Over the last three years, office vacancy has decreased from approximately 18% to 12%; jobs have increased from approximately 52,400 to 53,500; hotel revenues have increased from $3 million to $3.9 million, and the number of business licenses issued has increased from approximately 8,530 to 9,100. Additionally, based on a recently completed survey of local companies, 91% of the respondents rated Pleasanton as good or excellent place to do business. This same survey identified opportunities to enhance communication, promote Pleasanton, and support local companies. Findings have been incorporated into Pleasanton's Economic Development Strategic Plan Update. 4. Community Development services allow for the orderly planning and development of the City through the following activities: building inspection, planning, and private development engineering. The volume of approvals issued annually coupled with the average number of days to receive permitting approval is considered a good indicator of performance and efficiency. Appropriate cost recovery models can also improve efficiency by ensuring the City is adequately staffed to address peaks in development activity, without significant reliance on funding from the General Fund. Conversely, as development activity slows, the City could decrease staffing to better correlate with fee revenue at various stages of permitting (early, middle, end). With an adequate revenue model in place, community development could begin to resemble an enterprise activity, similar to the City's water, sewer and golf enterprises. A Fee Study is currently underway and will be reviewed and considered by the City Council in the coming months to address future cost recovery. • Within the Building Inspection Division (end stage), the number of building permits issued last year increased by 6% over the previous year. The targets for issuance of building permits for new construction and remodels from the date of final submittal by the applicant are 35 days and 21 days, respectively. The Division generally met these standards in fiscal year 2012/13. The percentage of cost recovery for the Division was 135% in fiscal year 2012/13, meaning there was no General Fund subsidy for this activity. • Within the Planning Division (early stage), indicators are the same (volume versus turnaround). Unlike the Building Inspection Division, planning approvals can get significantly delayed by the public review process, community opposition and/or third party legal challenges, regardless of internal efficiencies. Examples of this include: Staples Ranch, Oak Grove and Lund Ranch II. Except for projects delayed for the aforementioned reasons, the Division met all of its performance targets Page 5 of 8