Economic Vitality Committee Agenda and Packet 2024 10 02

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Economic Vitality Committee Meeting Minutes September 4, 2024 Page5of6 Louisville does have an existing lodging tax and staff will confirm where that revenue goes. Grant Programming Chair Dickinson expressed interest in this group and mentioned the South Street Underpass and Downtown Vision Plan as City -led construction projects that could impact businesses. He noted that providing financial assistance for these impacts caused by the City may be helpful in reducing the impacts to businesses. Public Comment from Eric Reed: Mr. Reed wondered what the timeline for assistance would look like and when a business would need to apply for funding. He noted that this assistance could almost be seen as an investment rather than an incentive. Non -Monetary Support Chair Dickinson commented that there seemed to be a great deal of monetary support provided in the King Soopers BAP that was recently approved by City Council and wondered whether this is something that needs to be formalized. Manager Zarate responded that the BAP can often be turned around fairly quickly but this support would be aimed at land use reform or expediting review processes following formal application for Planning and building permits. Director Zuccaro added that applicants often ask for expedited review but it doesn't necessarily save as much time as expected when multiple revisions and reviews are required. He noted that if land use reform was to be considered, it should be implemented across the board so that all businesses are on a level playing field. He also concluded that Louisville's current review process is not as cumbersome as applicants often feel. Programmatic Support Chair Dickinson stated that he would like to see the City pursue CHIPS designation and would like to hear more about the process. Manager Zarate noted that it would likely require a proclamation from City Council showing support. Chair Dickinson thanked staff for the presentation and asked what sort of feedback is needed from the EVC to move forward. Manager Zarate asked for prioritization around which programs the EVC would most like to pursue. Chair Dickinson responded that he would like to prioritize expanding the existing BAP program for retail businesses. He also stated that he would like to pursue CHIPS designation and the loan program. Finally, he noted that staff could pursue the grant program after exploring the first three options.