Economic Vitality Committee Agenda and Packet 2023 05 19

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SUBJECT: ECONOMIC VITALITY COMMITTEE WORK PLAN DATE: MAY 12, 2023 PAGE 2 OF 3 Strategic Goals: • Focus retention and attraction strategies on underutilized retail spaces, blighted properties, and long-term vacancies; • Improve our business climate through collaborative relationships and affective processes; • Develop differentiated tools and programs focused on increasing total retail sales and sources of revenue generating activities; • Facilitate a mix of diverse and quality job opportunities for Louisville residents; and • Invest in green practices and programs that enhance environmental sustainability in our business community. In addition to the Economic Vitality Strategic Plan, the EVC has recently expressed interest in developing its own Work Plan. The creation of an EVC Work Plan would help the EVC identify its priorities for this year and ensure that there is adequate time to discuss items before they are heard by City Council. It is not anticipated that the development of an EVC Work Plan would require City Council approval. For reference, the Finance Committee has its own Work Plan that is set without direction from City Council. Staff has prepared a sample Work Plan (Attachment #1) based on the existing Economic Vitality Strategic Plan (Attachment #2). The Work Plan pulls initiatives from the Strategic Plan and attempts to organize the items by quarter. This setup will allow the EVC to visualize its commitments for this year, and set monthly agendas. City Council discussed and set its Work Plan on Tuesday, January 17t". Staff recommends that the EVC Work Plan pull relevant items from Council's Work Plan (Attachment #3). One program reflected on City Council's Work Plan is Economic Prosperity. The goal of Council's Economic Prosperity program is to "promote a thriving business climate that provides job opportunities, facilitates investment and produces reliable revenue to support City services". City Council's Work Plan currently contains two items that are assigned to Economic Prosperity that should be considered for inclusion in the EVC Work Plan: • Transportation Master Plan Development & Implementation: o Future 42 plan next steps o Determine interest in partnership with LRC for construction of underpasses in the URA (Main St/SBR, SH42/South, SH42/SBR) • Prohibit the sale and use of gasoline powered landscape equipment The following additional items from Council's 2023 Work Plan do not fall within the Economic Prosperity Program, but may be of interest to the EVC: • City Climate Change/Greenhouse Gas Reduction Initiatives: Agenda Packet P. 11