Revitalization Commission Agenda and Packet 2025 03 25

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Revitalization Commission Minutes February 12, 2025 Page 3of6 The Economic Vitality (EV) Manager presented a review of the City's 2024 Economic Vitality activities. The presentation was included in the meeting packet. Commissioner Comments: Commissioner Adler asked if Economic Vitality tracks the success rate of business attraction and retention activities and what it looked like in 2024. The EV Manager responded that they do track the activities, noting that lease signing takes 18-24 months from the time of potential site submission. From four formal site selection searches submitted to the State one (1) lease has been signed; the other three haven't made a location decision yet. With site searches about 1/4 of them have landed in Louisville. Commissioner Lipton asked if there were any themes that emerged on retention visits. The EV Manager responded that cost and availability of labor came up across industries. City processes also came up, some of which turned out to be due to misunderstanding of the processes. Commissioner Lipton asked if there is anything actionable that the city is considering to address the noted issues. The EV Manager responded that some action has already been taken to processes in terms of timelines to get permits into the queue. The remaining complaints are related to the PUD process as well as thresholds for public meetings and approvals. These complaints have been noted, and any changes will likely come after the comprehensive plan's approval. Commissioner Lipton asked if there was anything specific to the Urban Renewal District. The EV Manager responded that the biggest complaints about downtown are vacancies, and we are slowly whittling away at those. Councilmember Dickinson commented that he was on EVC last year and that there has been a lot of movement. He expressed excitement about the team and things moving forward. Public Comment: None. Downtown Economic Snapshot The Economic Vitality (EV) Manager presented a summary of the Urban Renewal Area economy. The presentation was included in the meeting packet. Vanessa will send the tapestry details to the Commission. Commissioner Comments: Commissioner Lipton asked about the scale for the indexes listed in the Key Facts. The EV Manager provided a summary of what the indexes are based on, specifically that the average is 100. Commissioner Adler commented on the commute time data, asking if the numbers look similar for the whole city. There was a discussion around the historical commute time data and how virtual employment might have affected this data. Commissioner Adler asked how this data might be used. The EV Manager responded that when the city talks about housing, it will inform how we provide housing for the workforce in the city.