TITLE: Title
Hold a public hearing and consider adopting the final draft of the Economic Sustainability Plan
PURPOSE: The purpose of this agenda item is to present the final draft of the town’s Economic Sustainability 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 A).
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 community and 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. Quality of life measures are defined as principles that guide an organization throughout its life in all circumstances, irrespective of changes in its goals, strategies, or type of work, and were developed around issues including equity, 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. And finally, there is a section that addresses funding and capital needs of locally owned businesses.
Staff presented the plan to the Board of Aldermen in June 2017 and the Board directed staff to send the plan out to town advisory boards for comments (Attachment B). The final draft has been updated to reflect the comments from the Board of Aldermen, advisory boards and the ESC’s final comments (Attachment C).
FISCAL & STAFF IMPACT: The plan has been developed in house by staff.
RECOMMENDATION:r Staff recommends the board hold the public hearing and consider adopting the plan.