Economic Vitality Committee Agenda and Packet 2020 02 05

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ECONOMIC VITALITY COMMITTEE SUBJECT: DISCUSSION- COMMITTEE PURPOSE AND OBJECTIVES DATE: FEBRUARY 5, 2020 PRESENTED BY: MEGAN E. PIERCE, ECONOMIC VITALITY DIRECTOR SUMMARY: At the January 22 meeting, members discussed how to define the purpose and objectives of the Economic Vitality Committee. Discussion focused on how their purpose related to the development of an economic vitality strategy as well as how the Committee would interact with the City Council on economic vitality issues and policies. Staff was asked to draft the purpose and objectives based on this discussion, which is outlined below. The draft also seeks to incorporate the vision already expressed in the existing Economic Prosperity Program. Purpose: The Louisville Economic Vitality Committee (EVC) provides leadership, policy recommendations, and support for the City’s programs to promote a thriving business climate that provides job opportunities, facilitates investment, and produces reliable revenue to support City services. Objectives: • Facilitate the development of an Economic Vitality Strategic Plan, including goals and specific supporting actions. • Make recommendations in support of the City’s Economic Prosperity Program by maintaining positive business relationships; assisting property owners, brokers, and companies in finding locations and/or constructing new buildings; and attracting/retaining a diverse mix of businesses that provide employment opportunities for Louisville residents. • Monitor progress toward the Economic Vitality Strategic Plan goals through Key Performance Indicators and annually review prioritization. Staff will gather any additional feedback to revise and refine the Committee’s purpose and objectives. RECOMMENDATION: Discuss draft purpose and objectives and provide feedback. ATTACHMENTS: None. Packet P. 6