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SUBJECT: STRATEGIC PLAN ITEM #1-3 <br />DATE: AUGUST 20, 2021 PAGE 8 OF 8 <br />• Brings new basic jobs to the City, with average salaries about the County's <br />average wage <br />• Represents job diversity in industry sectors and is part of a growing industry <br />• Brings a new retail outlet or expands a current retail outlet <br />• Represents retail diversity <br />• Brings a value added results to the City of a development within the City (i.e. <br />moves the company's corporate headquarters to the City) <br />• The amount of business assistance is a percentage of revenue created by the <br />relocation of this company to the City of Louisville, or the retention and/or <br />expansion of a company within Louisville <br />• Business assistance is generally not available for a move from one Louisville <br />location to another. <br />DIRECTION: <br />Staff seeks direction from the EVC on potential program changes as well as next steps. <br />Depending on the recommendations, it may be helpful for staff to bring back a <br />consolidated presentation of all changes being considered. It would be possible to <br />prepare this for the regular September EVC meeting. Please recall this EV Strategic <br />Plan item is also included on the City Council's 2021 Work Plan. Staff originally targeted <br />the September 7, 2021 Council agenda to bring forward a recommendation or <br />evaluation information on the Business Assistance Program to Council. The EVC should <br />provide input about an alternative date to bring this item forward to Council, depending <br />on what additional information is needed at this time. <br />The Business Assistance Program has also been adopted into Section 3.25 of the <br />Louisville Municipal Code (through Ordinance 1507, Series 2007). Therefore any <br />program changes will need to be adopted though a new Ordinance process. <br />RECOMMENDATION: <br />Staff seeks direction on next steps and potential Business Assistance Program <br />changes. <br />ATTACHMENTS: <br />• Attachment #1: Strategic Plan Item #1-3, July 16, 2021 <br />• Attachment #2: BAP Incentivizing Outcomes Visual <br />• Attachment #3: City of Boulder, Flexible Rate Incentive <br />EVC Materials <br />Program Application <br />Agenda Packet P. 20 <br />