Economic Vitality Committee Agenda and Packet 2021 12 17

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Cityof ECONOMIC VITALITY COMMITTEE Louisville COLORADO -SINCE 1878 SUBJECT: DISCUSSION/DIRECTION - ECONOMIC VITALITY STRATEGIC PLAN AND 2022 INITIATIVES DATE: DECEMBER 17, 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 is an ongoing discussion item for the Economic Vitality Committee (EVC). The Strategic Plan matrix (Attachment #1) is included on the agenda and generally discussed at each EVC meeting. Staff updates the matrix for each meeting and seeks input about changes, especially revisions to projects, additional tasks, and revised timelines. To help orient new Committee members, the Strategic Plan is intended to be a document to guide actions over a three to five year period. The Goals have been organized by priority; the Supporting Actions are the key program and projects that will lead to accomplishment of the Goals. Each Goal has Measures, which have been associated with the Economic Prosperity Program Key Performance Indicators (KPIs) where possible. Under Supporting Actions are the more detailed Tasks staff employs. The Strategic Plan adopted items at the Supporting Action level, because Tasks are often added or subtracted as projects evolve. Responsibility is listed at both the Action and Task level to demonstrate where the work is focused. Items that have EVC or Council touchpoints are also highlighted with teal and yellow respectively. Target Start is essentially the planned timeframe for the Supporting Action. A quarter and a year are listed at each Action; staff also shares dates at the Task level when available. The timeframe is color coded; blue represents items with a 2022 start. Lastly, the EVC requested to create a "parking lot" for the plan earlier this year. Here, new ideas and potential projects are captured for future consideration. In addition, staff prepares a quarterly Scorecard update on Strategic Plan status. The Q3 2021 scorecard was presented to Council on October 5; the Q4 2021 report is scheduled for Council's January 18 regular meeting. DISCUSSION: Staff undertook a more thorough review of the Strategic Plan matrix after the September EVC meeting. Where staff feels the suggested changes require Committee input or review, the matrix box has been highlighted with a purple background. Underlined text notes that an Action or Task has been revised. Below is a summary of 2021 initiatives where staff is suggesting a change in the Target Start; the summary also lists all Supporting Actions currently scheduled for 2022. Given other ongoing work and staff Agenda Packet P. 7