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<br /> <br /> <br /> <br /> <br />ECONOMIC VITALITY COMMITTEE REPORT <br /> <br />3 <br /> <br /> <br />April 17, 2025 <br />Economic Development <br /> <br /> <br />TITLE: RECEIVE RETAIL DEVELOPMENT PROGRAM UPDATE <br /> <br /> <br />BACKGROUND <br />In August 2023, the City Council adopted the updated Economic Development Strategic <br />Plan (EDSP) which the Economic Vitality Committee uses as the foundation for its work. <br />The plan consists of five Implementation Plan Priorities: <br /> <br />1.0 Economic Development Capacity Building <br />2.0 Business Retention, Expansion & Attraction <br />3.0 Local Revenue Growth <br />4.0 Entrepreneurship & Innovation Outreach <br />5.0 Major Projects Accelerator Program <br /> <br />There are specific actions items under 1.0 Economic Development Capacity Building, <br />2.0 Business Retention, Expansion & Attraction, and 3.0 Local Revenue Growth that are <br />related to retail development and business retention, attraction, and expansion <br />programs: <br /> <br />1.4 Formalize Community & Business Partnerships <br /> The Economic Development Division will continue to leverage existing regional <br />strategic partnerships through expanded collaboration on the implementation of <br />the City’s new Business retention, Expansion and Attraction program. <br />2.1 Enhance Visibility, Marketing, and Branding Strategy <br /> a. Create and disseminate digital and print collateral to define Pleasanton’s value <br />proposition (“Why Pleasanton” brochure) <br />e. Attend 2-3 sector-focused trade shows annually (Regional/State NAIOP, ULI, <br />ICSC) <br />3.1 Expand Citywide Retail and Tenant Support Program <br /> The City will conduct a retail assessment to obtain retail sales and shopping <br />center performance data to establish focus areas for assistance. The City should <br />also explore the demand for expedited tenant improvement (TI) permitting for <br />cosmetic modifications to help catalyze retail development. <br /> <br />Pleasanton’s high quality of life is supported by a strong job base and a diverse mix of <br />land uses, which generate public revenues to fund high-quality services and amenities. <br />The City includes a variety of retail centers, employment hubs, and hotel properties—all <br />contributing to its economic resilience. Historically, Pleasanton has generated the <br />highest volume of taxable retail sales within the Tri-Valley region, an important indicator