Item 4L
Item 4L - Addendum to MXD Retail Study
August 5, 2014
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Presentation Outline
Purpose and Outcomes of addendum
Background
Need for Addendum
Strategic Links
Goals for Expanded Study
Utilization of the Study
Recommendation for Contract
Council Questions and Feedback
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Purpose/Outcome for Tonight
Addendum to existing contract with MXD to more fully explore target markets
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Background
MXD Retail Analysis Saturation study initiated to help determine likely future retail market conditions
MXD Development strategists identified several potential target market segments to augment retail environment
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Need for Addendum to agreement
Review 2011 ED & Tourism Strategy relative to 2030 comprehensive plan
Further Explore Target Markets:
Culinary
Medical/Wellness Office Users
Performing Arts/Creative Center
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City of Southlake Strategy Map
Critical Business Outcomes
CBO1 - Continue to implement Southlake 2030 Plan by focusing on short-term initiatives.
CBO2 - Become an employer of choice by developing a plan to recruit, develop and retain employees committed to excellence.
CBO3 - Develop long-term strategies to address future financial uncertainties and challenges.
CBO4 - Improve mobility by proactively completing traffic analysis of key areas.
CBO5 -Optimize resources through collaboration and partnerships to reduce costs and add service value.
The City of Southlake provides municipal services that support the highest quality of life for our residents, businesses, and visitors. We do this by being an exemplary model of balancing
efficiency, fiscal responsibility, transparency, and sustainability.
Deliver on Our Focus Areas
Performance
Management &
Service Delivery
C1 Achieve the highest standards of safety & security
C2 Provide travel convenience within City & region
C3 Provide attractive & unique spaces for enjoyment of personal interests
C4 Attract & keep top-tier businesses to drive a dynamic & sustainable economic environment
C5 Promote opportunities for partnerships & volunteer involvement
Manage the Business
B1 Achieve best-in-class status in all City disciplines
B2 Collaborate with select partners to implement service solutions
B3 Enhance resident quality of life & business vitality through tourism
B4 Provide high quality services through sustainable business practices
B5 Enhance service delivery through continual process improvement
B6 Optimize use of technology
Provide Financial Stewardship
Promote Learning and Growth
F1 Adhere to financial management principles & budget
F2 Invest to provide & maintain high quality public assets
F3 Achieve fiscal wellness standards
F4 Establish & maintain effective internal controls
L1 Ensure our people understand the strategy & how they contribute to it
L2 Enhance leadership capabilities to deliver results
L3 Attract, develop & retain a skilled workforce
L4 Recognize & reward high performers
L5 Empower informed decision-making at all levels in the organization
C6 Enhance the sense of
community by providing excellent customer service and citizen engagement opportunities
L6 Foster positive employee engagement
Financial Considerations
Part of previously approved FY 2014 budget for retail, target market and hotel studies
Hotel study redirected to tourism market study due the recent approval of two new hotels
Addendum is for $30,000
($20,000 from Economic Development and $10,000 HOT)
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Goals of the Expanded Study
Explore the trade area trends and competition
Assess the most appropriate businesses/tourism uses within specified target market clusters
Outline specific strategies to enhance the ED & Tourism strategy as it relates to 2030 Plan
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How will the Study be Utilized?
Possible amendments/enhancements to the ED & Tourism Plan
Influence structure of Incentive Guidelines
Identify new businesses and tourism partners
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Task Description and Time Table
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Requested Action
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Approve Item 4L: Addendum to the MXD Retail Saturation Study agreement for Phase II -
Target Market Analysis
Questions?
Shannon Hamons, 817-748-8037
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