Economic Vitality Committee Agenda and Packet 2021 07 16

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Economic Vitality Committee Meeting Minutes May 27, 2021 Page 2of4 Director Pierce then guided the Committee through the charts and numerical result breakdowns for each question of the survey. Mayor Tern Maloney asked if it would be meaningful to cross reference these numbers with industry sectors. Councilmember Leh had a question about question #14, which stated where people got COVID information, and if we could survey how credible those people felt the information was. Director Pierce then mentioned that this survey, as compared to the Business Satisfaction Survey, captured a majority of businesses in Downtown and it would be helpful to cast a larger net for other surveys. Director Pierce pointed out that the Treasury had recently released its guidance for the funds to be allocated as part of the American Rescue Plan Act (ARPA). She stated that the report on these survey results also included initial thoughts on how the ARPA funds could be used and that direct financial assistance may be a good utilization of funds, as the survey results pointed to this need still existing. Other options of technical assistance for business capital, finance resources, or other ways to help Louisville businesses. Councilmember Leh thanked Director Pierce for doing the survey and asked if she heard back from businesses about the survey itself. He said that some businesses present at the meeting might have further insight, too. Chair Dickinson stated it was great to see the number of responses come from the survey as it can be difficult to have people participate in the surveys. He said that it was nice to see positive feedback regarding the City's efforts. Mayor Pro Tern Maloney commented that this survey showed while that there was a time where there was concern over getting information out, this survey showed people were able to find and acquire helpful information. He also asked staff to clarify question #26, and Directory Pierce answered that it was asking about projections of 2021 numbers based on 2020 numbers. Chair Dickinson commented that he was surprised that many saw their expenses go up over the period of COVID downturns and that it can be a reminder for all of us that 2021 is about a recovery from 2020 setbacks. He also said that it can still be a tough road ahead for many and that it is important for the EVC to remember that they can support. Director Pierce followed up that we can forget how much PPE could and did cost for some of the businesses. She continued about the importance for businesses in this recovery period to be able to pay their backlog of expenses like rent, and that could inform plans for ARPA funding distribution and shows how important marketing the funds will be. Councilmember Leh agreed and stated that this initial funds comes at the right time for many businesses. Chair Dickinson thanked staff for a good job at getting the data and asked for public comment. Agenda Packet P. 4