TITLE: Title
Presentation of the Draft Economic Sustainability Plan
PURPOSE: The purpose of this agenda item is to allow staff to present to the Board the work of the Economic Sustainability Commission’s Plan.
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DEPARTMENT: Economic and Community Development
CONTACT INFORMATION: Annette Lafferty, AICP Economic and Community Development Director
INFORMATION: In May of 2015 the ECD Director presented an update of the economic development goals for the Town. In a resolution, the Board directed staff to work on developing a local first campaign and to begin the process of updating the Local Living Economy Task Force Recommendations (Attachment 1).
In June of 2015 the Board appointed a group of business leaders and the group set out to develop the Think Local Campaign. Out of that group the Carrboro Business Alliance was born and have been meeting, creating networking opportunities and collaborating on retail marketing campaigns since. The brand for this group is the Carrboro logo with the tagline Local Matters (Attachment 2).
The ESC was given the task to update the Local Living Economy Task Force Recommendations. They developed an outline that has been the basis for research and discussion and the following purpose statement;
“This document is intended to be an easy to understand set of values, guiding principles, and action items for the continued development and economic well-being of the Town. It is expected that the document will be reviewed and updated bi-annually as action items are addressed and values and guiding principles continue to evolve. Further studies related to this plan could include prioritizing, needs assessments, implementation strategies, funding options, and partnership opportunities for action items. The Economic Sustainability Plan seeks to be a guiding document for the Economic Sustainability Commission’s review of applications for loans, zoning permits, ordinance amendments, development plans and other documents submitted to them by the Board of Aldermen consist with their charge.”
The plan was developed utilizing existing town plans as a blueprint and to ensure consistency. It addresses all three legs of sustainability; the environment and natural resources, people, and the local economy. There is a value statement for sustainability and each leg. Guiding principles were developed around such topics as art, community spaces, age-friendly, fresh foods, healthcare, walkability, public transit, bikability, and business. Action items were adopted from the Climate Action Plan, Affordable Housing Plan, and the Local Living Economy Task Force Recommendations. The ESC looked at data around employment trends, housing cost, and retail leakage. There was a survey of the Carrboro businesses and action items were created that responded to their concerns. There is a section that addresses funding and capital needs of locally owned businesses. The plan also addresses equity and recommends three specific actions for the town;
• Create more opportunities for community conversations around racial equity and social justice issues to help develop a shared language and definition of equity
• Consider adopting a local government equity rating tool for use in governmental decision-making
• Partner with community organizations to assist residents that are not banked or are under banked with the financial capability by expanding access to financial education and coaching
The Economic Sustainability Commission voted to recommend the Board consider sending the plan out to other advisory boards and for public comment. (Attachment 3)
FISCAL & STAFF IMPACT: The plan has been developed in house by staff.
RECOMMENDATION:r Staff recommends the Board refer the plan to other advisory boards and the CBA for comments.