Economic Vitality Committee Agenda and Packet 2020 04 13

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Economic Vitality Committee Meeting Minutes March 6, 2020 Page 2 of 3 • Improve our business climate through collaborative relationships and effective processes; and • Facilitate a mix of diverse and quality job opportunities for Louisville residents. Mayor Pro Tem Maloney suggested that the first Goal should possibly include language indicating the City is engaged in both inside and outside sales tax growth. Members discussed the different opportunities and what is actionable between sales tax generating businesses within Louisville and those outside the City that remit sales tax. Councilmember Dickinson suggested that one of the existing goals or a fifth goal should be added to incorporate environmental sustainability. He stated that he felt it was important for this to be clearly stated in order for it to be actionable. The Committee discussed that this concept is not in the draft Vision Statement and whether the Strategic Plan document would create enough context for the goals to be clear to all readers. Ultimately they determined a fifth goal should be drafted for environmental sustainability and then it can be vetted with other City Council feedback. The Committee also briefly discussed Measures and Key Performance Indicators (KPIs). The City is currently undertaking a separate process to review and revise the KPIs, so whatever Goals are determined for Economic Vitality will be incorporated. Members discussed different types of measures and the desire to both understand workload, but also more importantly, the outcomes of the significant investments in the long-term. VII. Staff Updates: Director Pierce shared the December 2019/Year-End 2019 Sales Tax reports from the packet, which were recently presented to the Finance Committee in February. Mayor Pro Tem Maloney had suggested the information was also relevant to the Economic Vitality Committee; he added the Finance Committee is really focused on targets and projections and less on what is actionable related to goals. The Committee briefly reviewed the reports and commented on the detailed presentation. It was agreed the information could be further evaluated as the Strategic Plan develops. VIII. Current Article- Retailers and Sustainability: Director Pierce shared recent articles from the International Council of Shopping Centers (ICSC) focused on trends in retail related to sustainability. Committee members indicated the articles have been informative and they look forward to seeing more. IX. Next Meeting: Members determined not to set a next meeting date. The agreed-to Strategic Plan information will be presented to the City Council at its April 7, 2020 meeting at 7:00 PM. Agenda Packet P. 3