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City of Louisville <br />Economic Vitality Strategic Plan <br />Strategic Goal #3 <br />Measures (KPIs) <br />Develop differentiated tools and programs focused on increasing total retail sales and sources of <br />revenue -generating activities <br />• Commercial vacancy rate for retail space <br />• In -City sales tax per square foot of retail space <br />• Percentage of Business Assistance Package incentive dollars <br />rebated of sales tax generated by BAP Recipients <br />Identifier <br />Supporting Actions/Tasks <br />Responsibility <br />Target Start <br />#3-2 <br />• Identify market gaps through analysis and by monitoring retail leakage to adjacent communities <br />EVC/EV <br />Q3 2022 <br />o Develop scope of work & RFP for retail leakage analysis and retail market research study <br />EV <br />Target Start August 2022 <br />o Hire consulting firm with focus on strategizing study outcomes to conduct process and prepare report <br />EV <br />o Prioritize outcomes of market study, especially into new strategies for retail attraction <br />EVC/EV <br />#3-4 <br />• Look for opportunities to implement recommendations from the McCaslin Area Market Study that support <br />redevelopment <br />EV <br />Q4 2022 <br />o Establish regular engagement and coordination with key property owners, including Ascent Church, <br />Koelbel & Co, and Regal Cinemas/Cinebarre <br />EV <br />ONGOING <br />#3-6 <br />• Attend regional and national retail focused events to stay engaged with brokers, owners, and tenants <br />EV <br />ONGOING <br />Agenda Packet P. 17 <br />