Business Retention and Development Committee Agenda and Packet 2020 07 06

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CXtY°.f BUSINESS RETENTION AND Louisville DEVELOPMENT COMMITTEE COLORADO -SINCE 1.878 SUBJECT: DISCUSSION- ECONOMIC VITALITY STRATEGIC PLAN UPDATE DATE: JULY 6, 2020 PRESENTED BY: MEGAN E. PIERCE, ECONOMIC VITALITY DIRECTOR SUMMARY: One of the priority items on the City Council's 2020 Work Plan is developing an Economic Vitality Strategic Plan, including goals and implementation action items. The Economic Vitality Committee (EVC), which consists of Chair and Councilmember Caleb Dickinson, Mayor Ashley Stolzmann, and Mayor Pro Tern Dennis Maloney, has been the primary group working on strategic plan development. DISCUSSION: EVC discussed and began outlining the components of the Strategic Plan early in 2020; a visual of the Committee's planning process is included as Attachment #1. The initial focus has been on the Vision Statement and Strategic Goals. On June 2, 2020 these elements were presented to the City Council for input and confirmation before proceeding to develop the more detailed and specific Plan components. Vision Statement: Louisville is dedicated to producing reliable revenue to support City services which enhance our quality of life by fostering an economic environment that generates high quality jobs, innovative companies, and a diversity of businesses, employees, and customers. Strategic Goals: • Develop differentiated tools and programs focused on increasing total retail sales and sources of revenue generating activities; • Focus retention, expansion, and attraction strategies on underutilized retail spaces, blighted properties, and long-term vacancies; • Improve our business climate through collaborative relationships and effective processes; • Facilitate a mix of diverse and quality job opportunities for Louisville residents; and • Invest in green practices and programs that enhance environmental sustainability in our business community. The Council approved the Vision Statement and Strategic Goals as presented. The EVC has also discussed whether the goals should be revised given the unprecedented economic circumstances created by the pandemic; the Committee affirmed they are still relevant and can guide future discussions. At this time, the Committee has decided to Agenda Packet P. 4