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SUBJECT: <br />INCENTIVE IDEAS <br />DATE: <br />MARCH 6, 2025 <br />PAGE 4 OF 5 <br />The City would need to determine appetite for a P3, identify parameters and potential <br />funds for implementation. This would be a short through long term identification for <br />partners, programming and overall operations. <br />Non -Monetary Support <br />Some communities identify incentive categories that are not monetary in nature, most <br />often related to length of a process or streamlining the process itself. For example, a <br />project could be deemed economically significant, which would allow for the project to <br />receive expedited review or be able to skip certain steps in the process. <br />The City would need to determine project eligibility, project support, what the incentive <br />could be and identify staff needs. Often, the biggest commitment to non -monetary <br />support is the staff time and availability needed to achieve an expedited process, while <br />also keeping all other projects on their timelines. <br />Programmatic Support <br />There are multiple state through federal programs that are not direct monetary <br />contributions from the City, but assist businesses through support with additional <br />programs, training, promotion and potential grants and monetary rebates. These <br />programs include things like CHIPS Zone, Enterprise Zone, Main Street Designation, <br />industry hubs and more. These programs can be designations that the city applies for <br />(we are not eligible for all of them) and in turn, the businesses within those areas <br />receive additional support, tax credits and grant opportunities that they can be eligible to <br />participate in. <br />Staff is moving forward with an application for a CHIPS designation and is working with <br />partners for inclusion in our Enterprise Zone. Staff could explore options to engage in <br />the Main Street program at the state and federal level. This would include partnerships <br />with local organizations, such as the Chamber, and open up opportunities for <br />infrastructure funding, technical assistance, training, and grants. <br />Applications to these programs are most often led by the City with partner and business <br />support. The City will not be eligible for all programs and will need to determine which <br />ones, if any, they would like to apply for. This would predominantly consist of staff time <br />and a potential for small amounts of funding for the application process and review. <br />Staff is interested in hearing feedback about these high level ideas and getting <br />additional input from the EVC on which incentive programs, if any, staff should further <br />explore. <br />FISCAL IMPACT: <br />Current City of Louisville incentives are all rebate based, they are rebated back to the <br />business from new funds generated by the project. Depending on the type of incentive, <br />CITY COUNCIL COMMUNICATION <br />