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=0 , ',,, , 1 Economic Visioning Economic Vitality Strategic Plan - Implementation Tourism Business Retention and Attraction Program Downtown Business Incentive Program Consider establishment of a small business assistance program Economic Summits /Outreach Stoneridge Shopping Center Expansion F es t er ec onom i c s! - perity pursue and expand ' °t;rapn. Frnnnmy" n�nnnrt ECONOMIC DEVELOPMENT Z Goals Through various stakeholder discussions develop a plan with a focus towards fostering and promoting a green economy through the implementation of short and long term objectives. Set benchmarks and measure progress in implementing the Economic Vitality Strategic Plan. Work with the Tri Valley Convention and Visitors Bureau, the Pleasanton Downtown Association, the Livermore Valley Winegrowers Association, and other organizations to support and cultivate tourism. Enhance Pleasanton's diversified economic base through an aggressive) business retention and expansion program. Actively recruit and attract businesses and industries which are compatible with the General Plan, are a good fit with the resident worker population, and are consistent with the environmental holding capacity of the land and surrounding land uses. Example: Marketing, pursue active marketing program to thieve objectives Consider creating incentives, such as low interest loans, to encourage 1 the redevelopment of Downtown areas. Work with the Chamber of Commerce, Pleasanton Downtown Association and other stakeholders to explore options for development of a small business assistance program. Look at available resources offered locally and regionally to small business and expand opportunities where necessary. Utilize the City's Economic Vitality Committee to explore options for consideration by the City Council. Coordinate with community stake - holders focusing on long -range economic issues. Include Council, Economic Vitality Committee, Chamber, PDA among others. Work with project developer to enable review and consideration of Phase II improvements by Planning Commission and City Council. To date, Phase I improvements have been approved by the City, including two restaurants (PF Chang's, Cheesecake Factory), new Nordstrom's building and parking garage. Phase II involves 350,000 square feet of additional mall retail. Project Description Econ Dev'UCMO Econ Dev't Econ Dev't Econ Dev't Econ Dev't Econ Dev't Econ Dev't Econ Dev't/COD Responsible Department Underway. Through participation on the Green Economy Group, staff is currently considering options for development. Among current economic development initiatives are the City's partnership in i -GATE, a state - designated innovation hub, collaboration on the business -based Innovation Tri- Valley group, and identification of local contractors to provide green products and services. As well, Economic Development staff is working with the Alameda County Green Business Program to increase program participation among Pleasanton companies, and is working to identify a baseline of green economy activity in Pleasanton. Underway. Economic Development staff and the Economic Vitality Committee are concurrently implementing numerous strategies identified in the Economic Development Strategic Plan, and staff is tracking the progress of those efforts. Ongoing. Economic Development staff worked with the Tri- Valley Convention & Visitors Bureau on renewal of its Tourism Business Improvement District that increased the assessment dollars to the CVB for additional marketing of the region. In addition to ongoing efforts to assist the PDA, staff has been working with the Alameda County Fair Association to solicit several events, including the inaugural US global village festival. Staff also supported the LVWA initiative to publish The Wine Seeker's Guide to the Livermore Valley. Ongoing. The Economic Vitality Committee has incorporated this as part the implementation of the Economic Development Strategic Plan. Economic Development staff has been actively working with commercial brokers to identify and attract tenants to Pleasanton, and has hosted two broker events and made presentations to local commercial brokerage offices. Economic Development staff works with brokers and other business organizations (Chamber, PDA, Hacienda, East Bay EDA) on attracting and retaining individual businesses, through participation in tradeshows, business visits and individualized outreach. Underway. Economic Development staff has been working with the Economic Vitality Committee to identify and market the City's business assistance programs- Specific to the downtown, staff has been working with the PDA, property owners and prospective tenants to Leverage existing incentive programs and to create new opportunities for redevelopment of individual sites. Ongoing. The Economic Vitality Committee has incorporated this as part the implementation of the Economic Development Strategic Plan. Along with staff and EVC efforts on developing business assistance programs focused on supporting small to medium -sized companies, additional programs have included a retail seminar series as well partnering with the Alameda County Small Business Development Center to offer local Tri- Valley workshops free for Pleasanton companies. Ongoing. Two annual Innovation & Entrepreneurship Forums have been hosted, and recently the City and Chamber were partners in the Grow California Game Changers conference held in October 2010. City staff is supporting the PDA's downtown hospitality/entertainment initiative which resulted in a five -year action plan to be shared, and implementation started, in early 2011. Economic Development and Housing staff have provided support for an annual Real Estate Town Hall hosted by the Chamber of Commerce and the Bay East Association of Realtors to provide residents an update on the current state of the housing market. City also participates in the Green Initiative Group Roundtables locally and regional on a monthly basis. City is also participating in the I- j Gate Regional Initiative. Ongoing. Based on the economic climate, the mall owner has redirected efforts away from expansion toward upgrading existing buildings; in particular, this year Nordstrom will renovate the interior of the existing store. The mall owner is exploring ways to attract new retail /restaurant/entertainment uses to the property based on its available entitlement. The is also exploring the site for potential mixed use as pad of the Housing Element planning process. Status RANKING _ _ _ i 111 _ _ _ _ 1 i ..