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City of Louisville <br />Economic Vitality Strategic Plan <br />Strategic Goal #1 <br />Measures (KPIs) <br />Focus retention and attraction strategies on underutilized retail spaces, blighted properties, and long- <br />term Vacancies <br />• Commercial vacancy rate (retail, office, industrial) <br />• In -City sales tax per capita <br />• Percentage of Business Assistance Package incentive dollars <br />rebated of total tax revenues generated by BAP recipients <br />Identifier <br />Supporting Actions/Tasks <br />Responsibility <br />Target Start <br />#1-1 <br />• Develop shortlist of priority businesses to guide recruitment efforts <br />EVC/EV <br />ONGOING <br />o Create dashboard report for recruitment/attraction efforts <br />EVC/EV <br />Re-evaluate August 2022 <br />o Consider window display sponsorship to showcase community and property information in key vacant <br />storefronts <br />EV <br />Re-evaluate 2022 <br />#1-4 <br />• Identify priority properties/areas (such as Sam's Club, Kohl's, Cinebarre, and Village Square) for focus of <br />any City attraction efforts or influence to private redevelopment undertakings <br />CC/EVC <br />Q4 2022 <br />o Incorporate priorities into other Strategic Plan Goals and Supporting Actions, to match tasks with <br />properties/areas, such as process for public/private partnerships <br />EV <br />Target Start October 2022 <br />#1-5 <br />• Create and distribute quarterly commercial vacancy report to monitor lease rates and available space <br />EV <br />ONGOING <br />#1-7 <br />• Create a business communication toolkit, including a Business Resource Guide, to distribute critical <br />business information <br />EV <br />Q3 2022 <br />o Seek input from City departments about most frequent type of interactions with and questions from <br />businesses; develop list of topics for Resource Guide <br />EV <br />Target Start September 2022 <br />o Use development of Resource Guide to determine what other methods or forms of communications <br />should be part of the toolkit (either existing plans, forms, etc. or new items to be created) <br />EV <br />Target Start October 2022 <br />#1-8 <br />GFeat Cost Doing Business/Development SE8Fe6aFd tE) betteF d8iR0 <br />€V <br />COMPLETE <br />and review of HR&FStand E85t Of <br />bu5i. e5S ;R L „ l <br />o Seek to change perception of cost of doing business in Louisville and incorporate highlights from <br />scorecard in marketing materials <br />EV <br />ONGOING <br />#1-11 <br />• Facilitate and/or promote strategic special events that drive people to surrounding local businesses <br />EV/CMO <br />o Explore partnership with Chamber of Commerce to rebrand a Louisville version of Small Business <br />Saturday around 1st weekend in December and Parade of Lights <br />EV <br />Re-evaluate 2022 <br />#1-12 <br />• Conduct Urban Renewal Area workshops and downtown assessment to develop vision and prioritize <br />investments in the Hwy 42 URA over the next 10 years <br />CC/LRC/EV <br />In Process <br />Agenda Packet P. 14 <br />