Economic Vitality Committee Agenda and Packet 2021 09 24

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Economic Vitality Committee Meeting Minutes August 20, 2021 Page 3of6 Councilmember Dickinson wondered whether the BAP being all-inclusive would be more beneficial than multiple applications for programs. Director Pierce responded that the BAP is currently available to new and expanding business while smaller businesses who may not be expanding or relocating may not be able to take advantage of any assistance offered within the BAP. Mayor Pro Tern Maloney stated that Xcel does have programs intended for growing businesses which help the City meet its sustainability goals. He also clarified that making the BAP a one -stop shop may complicate things and hinder the program's effectiveness. Mayor Pro Tern Maloney opined that the program has done a lot of good for the City as is and that it's important not to break it. Director Pierce responded that these are all options and that they can be reassessed in the future. She emphasized the importance of the BAP being something that can be transparently communicated, easily processed and accurately measured. Director Pierce offered two options for giving businesses some flexibility on lease signing while still using the incentive as an attraction tool. Mayor Pro Tern Maloney agreed that it is important that the City receive the assurance of the applicant but also stated that there are times when small businesses are not aware of the BAP until after they have signed their lease. Councilmember Dickinson explained that while some groups may have a hesitancy to give incentives to businesses who have already decided on a location, the current lease signing requirement could hinder both large and small businesses. He continued that either of these options would allow flexibility for businesses who were not aware of the BAP, or businesses who have applied but need to sign their lease prior to BAP approval. Public comment from Mark Oberholzer, Vice Chair of DBA and co-owner of Tilt Pinball. Mr. Oberholzer provided public comment in opposition of the 30-day window as that feels more like a handout to him rather than an incentive. Mr. Oberholzer stated that he was in favor of requiring the application prior to lease signing. Mayor Pro Tern Maloney asked whether Mr. Oberholzer had any thoughts on increasing awareness of the BAP to small business owners relocating to Louisville. Mr. Oberholzer responded that it may not be a problem that specifically needs to be addressed as these businesses would have already chosen a location and wondered if the program would still be considered an incentive for attracting new businesses. Councilmember Dickinson explained that he has heard from some businesses that were not aware of the lease requirement that they have been frustrated by the timing requirement that caused them to miss out on incentives that they Agenda Packet P. 5