Economic Vitality Committee Agenda and Packet 2021 04 16

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L Cityof ECONOMIC VITALITY COMMITTEE Lo1.11SV11le COLORADO -SINCE 1878 SUBJECT: DISCUSSION - ECONOMIC VITALITY STRATEGIC PLAN DATE: APRIL 16, 2021 PRESENTED BY: MEGAN E. PIERCE, ECONOMIC VITALITY DIRECTOR SUMMARY: The City Council adopted the Economic Vitality Strategic Plan on November 10, 2020; Substantive plan initiatives begin in 2021. Review of the Plan's Supporting Actions and overall status should be an ongoing discussion item for the Economic Vitality Committee (EVC). DISCUSSION: Staff recently reviewed and updated the Economic Vitality Strategic Plan matrix; the revised document is included as Attachment #1. The revisions included: • Added numerical identifiers for each Supporting Action. • Color -coded Supporting Actions and Tasks by Responsibility to highlight areas of work for EVC (teal) and City Council (yellow). • Edited tasks with updates or for clarity. In the March EVC packet, these items were formatted with red, underlined text. Those updates have now been accepted and new changes are reflected in the same format. • Identified Supporting Actions or Tasks that require review, mostly responsibilities related to the Business Retention & Development (BRaD) Committee. o #2-3: Conduct a Business Satisfaction Survey every other year to monitor changes and new ideas in the business community. Requires review of Responsibility and Target Start. o #2-6: Host annual Business Forum to gather all stakeholders, review City priorities, and gather feedback. Requires review of Responsibility and Target Start. o #5-1: LRC participation in Council 5/18 discussion about Hwy 42 planning. Requires review on added Task to facilitate accomplishment of Supporting Action. • Marked completed Tasks, as well as those that include Ongoing work. The EVC should discuss the items marked for review and provide any other input to staff about revisions to the matrix. Staff also prepared a draft Scorecard Report for City Council, a draft of which is included as Attachment #2. The Scorecard envisions a quarterly update to Council in a format that conveys progress on the significant Supporting Actions. Each goal is represented on the scorecard, and each sheet of the card would represent a year of activity. Staff has drafted just the 2020 and 2021 years in order to gather feedback about the presentation format. The numerical identifiers reference the matrix document Agenda Packet P. 14