Revitalization Commission Agenda and Packet 2021 04 14

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L Cityof LOUISVILLE REVITALIZATION Louis- ville COMMISSION COLORADO -SINCE 1878 SUBJECT: DISCUSSION/DIRECTION- WORK PLAN DATE: APRIL 14, 2021 PRESENTED BY: MEGAN E. PIERCE, ECONOMIC VITALITY DIRECTOR SUMMARY: In Q1 2020, the LRC created a Goals and Work Plan document that guides the Commission to areas of focus and desired investments. The form and definitions of the Work Plan were finalized in March 2020 and then the document was also prioritized in April 2020. The LRC generally reviews the Work Plan at each meeting; there have not been substantive changes to the Actions or Priority Levels since the 2021 budgeting process. DISCUSSION: Attachment #1 is the LRC's current Work Plan. In order to facilitate this more in-depth review of the document, staff has made several updates and suggestions (see red, underlined items) as well as added notes with project background and details. Below is a summary of the key Work Plan components. • Project Areas & Actions: Each item has an associated project area; each action should start with a verb to clarify the intent of the work to be accomplished. The Project Areas have been ordered to reflect overall priority of most to less important for investment. • Owner. Every action has an assigned owner to assist with accountability. This area can also be used to indicate when resources might be required from an outside group. • Timeframe: Each action has a timeframe to accomplish of either short-term (three months to one year), mid-term (one to three years), and long-term (anything longer than three years). • Funding: A single $ indicates little to no financial investment; two $ indicate some financial investment; and three $ indicate major project or expense. Where possible, funding amounts are reflected. Items with a "' are those allocated in the current LRC budget. • Priority: Every action should have a rating of low, medium, or high. • Notes: Temporarily added to provide Commissioners additional context and information on specific projects. A critical function of the Work Plan is to communicate the LRC's priorities for investments, based on limitations of funding and staff capacity. Certainly new opportunities will be presented, especially Applications for Assistance that may be received, but the LRC should weigh those against existing priorities —realizing that taking on new projects may delay the accomplishment of others. The Work Plan is also Agenda Packet P. 8