Item 9a
Award contract to MXD Development Strategies for the preparation of a Retail Saturation Study
Item 9A
Background
The purpose of this item is to award a contract to MXD Development Strategist for the preparation of the of the Retail Analysis (Saturation) study.
City Council budgeted $40,000 to analyze and report on various aspects of the retail market
Goals of the Study
What types of retail are under-served in the City?
What is the trade area served by various categories of retail?
What types of retail are supportable long term and should be attracted (target retail)?
What is a reasonable amount of retail (square footage) the City can support by types given future market and demographic trends, future shopping habits and expectations as well as competition?
What is the potential sales volumes/tax revenue as a result of new retail?
How will the Study be Utilized?
Possible amendments to the Economic Development and Tourism Plan
Possible guide for the Incentive (380) Policy.
Possible guide for future land use decisions?
Contract with MXD
Task Description and Time Table
Questions?