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<br /> <br /> <br /> <br /> <br /> <br />ECONOMIC VITALITY COMMITTEE <br /> <br />SUBJECT: DISCUSSION TO DEFINE COMMITTEE PURPOSE AND <br />OBJECTIVES <br /> <br />DATE: JANUARY 22, 2020 <br /> <br />PRESENTED BY: MEGAN E. PIERCE, ECONOMIC VITALITY DIRECTOR <br /> <br />SUMMARY: <br />To guide the work of the newly formed Council Committee on Economic Vitality, staff <br />suggests the Committee define its purpose and primary objectives. Though the <br />Committee will be heavily involved in the current focus to develop an Economic Vitality <br />Strategy, the goals and actions of that strategy will evolve over time. So it is important <br />the Committee have an overall purpose that is broader than the development of strategy <br />itself. <br /> <br />BACKGROUND: <br />As part of the City’s Strategic Planning Framework, there are critical success factors <br />and 2019-2020 priority initiatives relating to economic vitality. <br />• Critical Success Factor: Vibrant Economic Climate <br />o Louisville promotes a thriving business climate that provides job <br />opportunities, facilitates investment, and produces reliable revenue to <br />support City services. Our unique assets enhance the City’s competitive <br />advantage to attract new enterprises, and Louisville is a place people and <br />businesses want to call home. <br />• 2019-2020 Priority Initiatives: <br />o Implement recommendations from the McCaslin Area Market Study to <br />support redevelopment within the area. <br />o Develop a plan to increase proactive retail recruitment for the City of <br />Louisville. <br /> <br />To further assist in considering the Committee’s purpose and objectives, attached is a <br />sample from the City of Golden’s Economic Development Commission. This is a <br />Council established Commission which has defined its mission and vision and also <br />develops a work plan. <br />• Mission: The Economic Development Commission will provide leadership, <br />education, and the tools necessary for the Golden community to optimize <br />appropriate economic opportunities. <br />• Vision: Golden will be a prosperous, sustainable community generating the best <br />possible quality of life for its citizens. A community that includes high quality job <br />opportunities, diverse housing, advanced transportation, superior educational <br />opportunities, state-of-the-art infrastructure, natural environment protection, <br />productive commercial and civic entities, fiscal health, cultural and recreational <br />amenities, and preservation of its historic character. Golden will exhibit, in its <br />Packet p. 11