Economic Vitality Committee Agenda and Packet 2020 05 06

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Economic Vitality Committee Minutes April 15, 2020 Page 4 of 7 What has been your percentage profit decline comparing this month with the same month last year- Director Pierce said these numbers are potential eligibility qualifiers or ranking factors. Mayor Pro Tem Maloney asked that “this month” be defined. At length, the Committee discussed the difference between asking about injury on the basis of revenue decline vs. profit loss. Chair Dickinson stated that reduction in expenses must be taken into consideration, not just loss of revenue. Mayor Pro Tem Maloney said if used for criteria for ranking, it will be hard to do objectively. Mayor Pro Tem Maloney said having narrative will be interesting but not useful. Director Pierce will review and provide as informational only. She is inclined to eliminate the calculation and ask for anticipated profit decline between March and April. It is not a decision factor question, but the informational questions will assist in determining other actions that may support businesses going forward. Mark Oberholzer – March 16th is when we received the order from the governor to shut down. Prior to that, businesses were down voluntarily. Sustainability- Mayor Stolzmann would like to change it to “Information” and add narrative describing that it will help to inform future programs. Director Pierce will change that and change “Business Information” to “Business Criteria” to differentiate what information the application will be weighed on versus demographic information. Mayor Pro Tem Maloney wants to make clear what is being used for criteria and what is being used for information. Acknowledgements/Signature- Mayor Stolzmann suggested striking the word “employment.” It was also suggested to add that grant monies received will be used on business-related expense in Louisville. Council member Chris Leh said the kinds of things being talked about how information will be disclosed may be a good subject for a privacy disclosure. He also said a suggestion was made during the LRC meeting that we have some sort of obligation stated that you spend money in Louisville.