Economic Vitality Committee Agenda and Packet 2021 12 17

Home Browse Search

SUBJECT: ECONOMIC VITALITY STRATEGIC PLAN & 2022 INITIATIVES DATE: DECEMBER 17, 2021 PAGE 3 OF 5 Action #2-10, Q1 2022: Remain active in Metro Denver Economic Development Corporation, Boulder Chamber, and Boulder Economic Council. This also will not be a specific action before EVC or Council, but an ongoing activity that staff engages. All of this involvement is also now in place. Action #3-2, Q4 2021: Identify market gaps through analysis and by monitoring retail leakage to adjacent communities. A market retail study has been anticipated since work began on the Strategic Plan. Staff originally suggested this item would begin in Q4 2021, realizing that it would likely involve a formal process to solicit an outside consultant and conduct the study. However, staff has since learned that the Comprehensive Plan update will kick-off in 2022. This normally involves a market study. Having discussed with Planning staff, it is suggested that the timeframe of this Supporting Action be revised to Q3 2022. Staff suggests expanding the scope of the market study for the Comprehensive Plan process so that it captures the needs of both Planning and Economic Vitality. This also ensures there is not competing information about our local market by two different consultants in a short period of time. This item is also associated with Action #3-3, which staff suggests revising to Q3 2023, as it requires the outcomes of the market study. • Action #3-5, Q2 2022: Evaluate Urban Renewal Area tools for retail application within the District in coordination with the Louisville Revitalization Commission. Staff is recommending that the LRC engage in more strategy and vision setting for the remaining years on the life of the Highway 42 Urban Renewal Area. As this would likely occur in 2022, staff recommends moving the Target Start to Q2 2023. • Action #3-6, Q1 2022: Attend regional and national retail focused events to stay engaged with brokers, owners, and tenants. This action is already in -the -works and staff would expect to label this item "Ongoing" next year. Action #4-3, Q3 2022: Create public, comprehensive business directory to increase resident and visitor awareness of existing business community. A substantive part of this work has been completed through an online platform available on the City's website, but the LRC's engagement with streetscape and wayfinding signage will dictate the ability to carry -out other tasks in the short- term. Action #5-3, Q4 2022: Develop understanding of incentives to encourage businesses to undertake new, sustainable practices. These conversations are already in process with Sustainability staff, and it is reasonable that there will be more information to provide and direct future programming by the end of 2022. Agenda Packet P. 9