Economic Development Committee of the Whole

Summary

Meeting Overview

The Special Economic Development Committee of the Whole met on May 13, 2014, at 1:00 p.m., with Beard presiding. The committee addressed four agenda items during the session, including approval of the Committee Summary from March 6, 2014, and approval of Items Referred to Committee. Two informational presentations were also delivered: one on Economic Development Partner Agencies and another consisting of Quarterly Reports. The committee took two votes during the meeting and heard ten public comments from members of the public.

Attendance

The following individuals were present at the meeting on May 13, 2014:

• Beard
• Stinnett
• Gorton
• Ellinger
• Kay
• Ford
• Akers
• Lawless
• Farmer
• Scutchfield
• Myers
• Mossotti
• Clarke
• Henson
• Lane

No absences or late arrivals were recorded.

Votes and Decisions

The meeting included two motions, both of which passed by voice vote.

Motion to Remove Insurance Tax to Support Affordable Housing Trust Fund 1:17:30

A motion was made by Henson to remove insurance tax to support the Affordable Housing Trust Fund. The motion passed by voice vote with no abstentions.

Motion to Remove Food Truck Review from Committee Referral List 1:18:04

A motion was made by Henson to remove food truck review from the committee referral list. The motion passed by voice vote with no abstentions.

Public Comment

Several community members addressed the board with questions and observations about Lexington's tourism, economic development, and cultural initiatives.

Tourism and Visitor Services

Clark inquired about collaboration between Visit Lex and the University of Kentucky, particularly regarding a potential visitor center near the interstate and joint marketing opportunities 31:24. King asked about progress on the horse farm tour initiative, which is being led by farm owners with Visit Lex support, with a focus on making individual access easier through online ticketing 34:48.

Rorden questioned Lexington's 62% hotel occupancy rate compared to industry standards and other cities like Louisville and Cincinnati. Visit Lex confirmed this rate exceeds the national average and represents strong performance 38:05.

Lane raised two concerns: contingency plans if the convention center is demolished during renovation, and an update on Lexington's potential bid for the World Equestrian Games. Visit Lex confirmed they are shifting focus to individual hotels and property leads to maintain group bookings during renovation, and expressed optimism about the Games bid, noting strong infrastructure and a 50-50 chance of success [timestamp: 00:41:13 and 00:43:51].

Arts and Cultural Development

Gordon asked whether Lexington has sufficient cultural assets for regional marketing and whether there is collaboration with Visit Lex. Both Clark and Browder affirmed opportunities for deeper partnership and regional arts tours 57:21.

Jasmar Clark highlighted the growing town-gown relationship and emphasized the importance of arts in schools as a foundation for community engagement and cultural vitality 1:05:06. Erling expressed gratitude to Jim Clark for his service to LexArts and his impact on the arts community and town-gown relationship 1:07:52.

Economic Development

Wayne asked for an assessment of the local economy and job creation. Kevin Atkins responded that interest is recovering, with renewed activity in downtown and increased business inquiries 1:14:48. Wayne also asked about the delay in 21C Hotel construction. Atkins confirmed the project is still moving forward and the team is excited to begin 1:15:52.

Contested Items

Reporting Form Effectiveness

Council members divided on the adequacy of current reporting forms used by partner agencies. The contested issue centered on whether existing forms capture sufficient data regarding job creation and economic impact.

Members expressed concern that the forms do not provide the level of detail needed to assess outcomes aligned with agency missions. Despite the split vote on this matter, council members reached agreement that the reporting forms require revision to better align with each partner agency's individual mission and objectives.

Committee Summary March 6, 2014

8:04

The summary of the March 6, 2014 Special Economic Development Committee of the Whole meeting was reviewed and approved by voice vote.

The meeting covered three main topics:

• JOBS program guidelines
• Budget carryover
• Program amendments

Key speakers during this agenda item included Scutchfield, Ellinger, Gorton, Kay, Farmer, Henson, and Beard.

The committee approved the summary by voice vote.

Economic Development Partner Agencies

Visit Lex presented on tourism's economic impact in Lexington during this agenda item 8:36. Speaker Browder highlighted several key metrics demonstrating the sector's significance to the local economy.

Economic Impact

Visit Lex reported that tourism generated $1.8 billion in spending in Lexington. The sector also contributed 450 new tourism jobs to the local economy.

Tourism Performance

The presentation noted record hotel occupancy rates, indicating strong demand for accommodations in the region.

Current Initiatives

Visit Lex discussed several active tourism promotion programs:

• Brewgrass Trail
• Share the Lex campaign

Future Plans

The organization outlined upcoming projects to further develop tourism infrastructure and marketing:

• Development of a mobile app
• Horse country tour offerings

Outcome

This agenda item was informational in nature, providing the meeting participants with an overview of tourism's economic contributions and strategic direction for Visit Lex's future initiatives.

Quarterly Reports (informational Only)

1:09:46

The council reviewed quarterly reports as an informational item with no substantive discussion. The reports were forwarded to Paul for distribution to relevant parties.

Concerns Raised

Council members Atkins, Clark, and Wayne raised concerns about the quality and completeness of data being submitted by partner agencies. They noted that the current reporting form does not adequately capture mission-specific outcomes, suggesting that the form itself requires revision to better align with the council's actual objectives and priorities.

Outcome

The item was handled as informational only, with no formal action taken. The reports will proceed to Paul for distribution.

Items Referred to Committee

1:17:30

Council members Henson, Atkins, and Wayne discussed the need to refine terminology for economic development partner agencies and improve reporting mechanisms during this agenda item.

The discussion focused on two main areas:

Terminology and Reporting Refinement Council members addressed the importance of clarifying language used to describe economic development partner agencies and establishing better reporting procedures to track their activities and outcomes.

Motion to Remove Items from Referral List A motion was brought forward to remove two items from the referral list: - Insurance tax - Food truck review

This motion passed unanimously, streamlining the committee's workload by eliminating these items from further consideration.

Outcome The agenda item was approved, with the council moving forward with refined terminology standards for economic development partners and improved reporting mechanisms, while simultaneously removing the insurance tax and food truck review from the active referral list.