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<br /> <br /> <br /> <br /> <br /> <br /> <br />ECONOMIC VITALITY COMMITTEE <br />SUBJECT: DISCUSSION/DIRECTION- ECONOMIC VITALITY STRATEGIC <br />PLAN, NEXT STEPS <br /> <br />DATE: MAY 6, 2020 <br /> <br />PRESENTED BY: MEGAN E. PIERCE, ECONOMIC VITALITY DIRECTOR <br /> <br />SUMMARY: <br />One of the priority items on the City Council’s 2020 Work Plan is developing an <br />Economic Vitality Strategic Plan, including goals and implementation action items. While <br />the Council Economic Vitality Committee (EVC) has made progress on this Work Plan <br />priority, we also recognize the significant changes in our economic environment due to <br />the impacts of COVID-19 closures and mandates on local businesses. At the April 7 <br />City Council meeting, the EVC briefly reviewed its work-to-date, however, the focus that <br />evening was on the significant impacts the pandemic was having on our local business <br />community. <br /> <br />A follow-up session has been tentatively put on the City Council calendar for May 26. <br /> <br />DISCUSSION: <br />At our last meeting in March, the Committee agreed to the Vision Statement and <br />Strategic Goals of the Strategic Plan. A visual of the Committee’s overall planning <br />process is included as Attachment #1. <br /> <br />Vision Statement: Louisville is dedicated to producing reliable revenue to <br />support City services which enhance our quality of life by fostering an economic <br />environment that generates high quality jobs, innovative companies, and a <br />diversity of businesses, employees, and customers. <br /> <br />Strategic Goals: <br />• Develop differentiated tools and programs focused on increasing total <br />retail sales and sources of revenue generating activities; <br />• Focus retention and attraction strategies on underutilized retail spaces, <br />blighted properties, and long-term vacancies; <br />• Improve our business climate through collaborative relationships and <br />effective processes; <br />• Facilitate a mix of diverse and quality job opportunities for Louisville <br />residents; and <br />• Invest in green practices and programs that enhance environmental <br />sustainability in our business community. <br /> <br />Since the Committee is still waiting for City Council feedback on these components, <br />staff suggests reviewing these items briefly for confirmation about the fit going forward.