Economic Vitality Committee Agenda and Packet 2023 02 17

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Major Initiatives for 2023 Timing Initiative EVSP Actions Staff Comments 1st Quarter Evaluate and potentially revise Business Assistance Program 1-3 • Perform annual Business Assistance Program analysis (Recurring) • This will be a recurring item with a new report provided each to align with the City's strategic goals for business attraction year and retention Identify priority properties/areas for focus of any City 1-4 • Incorporate priorities into other Strategic Plan Goals and Supporting Actions, to match tasks • Priority properties have been identified. How can they be attraction efforts or influence to private redevelopment with properties/areas, such as process for public/private partnerships incorporated into other plans? What will this accomplish? undertakings Evaluate a program for business incubator or pop-up on City- 1-9 • Research regional incubator programs; assess what works well, what does not work well- • LRC participation? owned property to encourage small business growth including opportunities to accomplish thru public/private partnerships • Develop list of potential properties or spaces for incubator; determine whether to pursue private property arrangements or limit only to City -owned property • Agree to terms for incubator spaces and determine level of support to be provided • Market program and available spaces for small business start-ups Conduct process improvement initiative for business -related 2-8 • Facilitate brainstorming on barriers to entry (from business perspective) • Could align with EVSP 1-7 & 1-8. Will need services to improve efficiency and customer service • Evaluate upfront, per SF costs of City's fee and application requirements communication/input from other City departments. • Review availability of services and support online as well as presented in English & Spanish • Could Chamber help gather this information? • Use information from brainstorming and staff engagement to determine the highest priority • Business retention visits processes for improvement initiatives; determine if improvements can be conducted in-house or require 3rd party • Conduct improvement processes that rely extensively on stakeholder engagement to ensure commitment to outcomes Develop ombudsman role for economic development to 2-9 • Increase collaboration between Planning, Building, Code, and Economic Vitality to create • Hiring EV Manager, transition to Community Development, facilitate business accessibility seamless business interactions and potential move to White House should facilitate this role Create public, comprehensive business directory to increase 4-3 • Evaluate opportunities for business directory in Downtown Louisville through signage or • Louisville Chamber has directory resident and visitor awareness of existing business streetscape work undertaken by LRC • Wayfinding signage has been removed as a priority in LRC community Work Plan Work with regional partners on commuter transit programs 5-8 • • LRC discussion of CTC Shuttle and creation of first and last mile connections to help Louisville employers attract and retain employees Promote local and regional programs and initiatives that 5-10 • • Sharing PACE updates in monthly EV newsletter assist commercial businesses interested in reducing • Include PACE and Sustainability Coordinator updates to EVC greenhouse gas emissions 2nd Quarter Create and distribute annual commercial vacancy report to 1-5 • • Report and vacancy worksheet have been created monitor lease rates and available space (Recurring) • Should this be annual or quarterly? Annual reporting with small updates every quarter? Consider need to evaluate supply/demand of downtown 1-10 e Review prior downtown parking lot purchases and current use of land • Annual parking inventory update? parking Create business communication toolkit, including a Business 1-7 e Seek input from City departments about most frequent type of interactions with and • Could tie in with EVSP 2-8 Resource Guide, to distribute critical business information questions from businesses; develop list of topics for Resource Guide • Business welcome kit has already been created • Use development of Resource Guide to determine what other methods or forms of communications should be part of the toolkit (either existing plans, forms, etc. or new items to be created) Host semi-annual Business Forum to gather all stakeholders, 2-6 • Spring 2023 forum anticipated for April. • 2023 Business Forums scheduled for April and October review City priorities, and gather feedback (Recurring) Identify market gaps through analysis and by monitoring 3-2 • Develop scope of work & RFP for retail leakage analysis and retail market research study • Should tie in with Council Work Plan and Comprehensive Plan retail leakage to adjacent communities • Hire consulting firm with focus on strategizing study outcomes to conduct process and Update prepare • Prioritize outcomes of market study, especially into new strategies for retail attraction Agenda Packet P. 12