Economic Vitality Committee Agenda and Packet 2022 05 20

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Economic Vitality Committee Meeting Minutes April 22, 2022 Page 2 of 3 Councilmember Fahey wondered if there was a significant difference in the type of outreach between small businesses and larger businesses. Director Pierce confirmed that it is generally more difficult to find a direct contact with larger businesses but that existing relationships can be leveraged to make connections. Public Comment from Mike Kranzdorf: Mr. Kranzdorf asked whether there is a consistent theme among businesses who have left Louisville. Director Pierce commented that the majority of businesses leave due to their changing space requirements. VII. Discussion/Direction- Strategic Plan Action #1-5: Quarterly Vacancy Report: Director Pierce presented a brief summary of the vacancy data that staff has collected. This report will be updated quarterly. Councilmember Most wondered whether there might be a way to identify the number of unlicensed home -based businesses who may not be captured in traditional reports. She also asked if there is a way to track the size of the individual spaces within the buildings. Director Pierce responded that these are not currently tracked. Chair Dickinson commented on the usefulness of the report and the trends that will be identified by future reports. Chair Dickinson continued his comments, wondering whether there is a "healthy" level of vacancy. Director Pierce responded that a vacancy rate below five percent may prevent gradual change due to a lack of available space for the variety of business needs. Chair Dickinson asked for updates on the following properties: 919 W Dillon Road (former Kohl's), 1164 W Dillon Road (Cinebarre), 1171 W Dillon Road (Lowe's), 785 E South Boulder Road (former Alfalfa's), 1110 E South Boulder Road (future Snarf's), Highway 42 pad sites, 957 Main Street, 804 Main Street (Wildwood Guitars), 809 Main Street (former Waterloo), 1345 E South Boulder Road (former Hobby Lobby), the Centennial Valley area, 575 McCaslin Boulevard (former Carrabba's), and 988 Dillon Road (former Outback). VIII. Discussion- Economic Vitality Strategic Plan: Director Pierce summarized the changes to the Economic Vitality Strategic Plan, including the updated matrix. Director Pierce commented that Action #3-2 has been separated from the Comprehensive Planning process and that a retail market study RFP is anticipated in Q3 2022. IX. Staff Updates: Director Pierce commented that there are two administrative BAP agreements in process. She continued with a Fagade Improvement Program update. Agenda Packet P. 4