Economic Vitality Committee Agenda and Packet 2021 08 20

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Economic Vitality Committee Meeting Minutes July 16, 2021 Page 3 of 4 Mayor Pro Tern Maloney followed up by stating that the program has been in place since 2007 and so the bones are general good and that shows the program is working. Councilmember Leh commented that it was important to look at what other communities are doing and how they structure incentives. He said it could be helpful to explore other programs nationally. Director Pierce summarized what she had heard from the group and how that will help guide her in preparation for August's meeting, including: stay consistent with formalized structure, build in flexibility around lease timing, look at other community programs, and consider incentives tied to economic vitality goals. VII. Discussion — Economic Vitality Strategic Plan: Director Pierce went over the Strategic Plan Matrix and the Scorecard. She noted that what is in this packet was what was presented at the July 13t" City Council meeting. VIII. Staff Updates: Director Pierce reviewed the follow-up information on the action to create a list of priority businesses. She said that an overall market analysis will be necessary to further this information. Director Pierce indicated that if there are certain missing businesses that the Commission or members of public hear about, it's helpful to get that input to staff. Director Pierce presented the new version of a business retention one -pager which will help let businesses better understand what services are available to them after they move into Louisville. Director Pierce also has updated other marketing materials to complete the strategic plan action. Mayor Pro Tern Maloney asked how those marketing materials get disseminated. Director Pierce said that mainly they are hosted on a website and sent via email, but can be printed and handed -out as needed. Mayor Pro Tern Maloney requested that updates on business closures or new business openings be provided in the staff report. Councilmember Fahey asked that the Green Business Program information be shared with Public Works for the City facility undertakings. Councilmember Leh suggested that members should consider modifying or updating the Economic Vitality Strategic Plan to reflect the City's EDI efforts. Mayor Pro Tern Maloney responded that it might be appropriate to place this in a "parking lot" for the plan while the EDI Task Force completes its work. Director Pierce confirmed that was feasible. Councilmember Leh also requested that staff share recent articles that report good news on Louisville businesses. Agenda Packet P. 5