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<br />Case # 1 <br /> <br />Consider Proposal to Develop a Retail Economic Development Strategy <br />By: Sean Sullivan, Economic Development Coordinator <br /> <br />Background: <br /> <br />Brandon Norrell, Territory Division Manager for Buxton, presented a proposal to Develop a <br />Retail Economic Development Strategy at the May 15 EDA meeting. Staff has been in contact <br />with the business community and is attempting to solicit interest and funds to assist in the study. <br />The initial discussion with a key member of the business community suggests that scope of the <br />retail economic development effort to be broadened to include other parties that are not located <br />in the three study areas but are also interested in the success of Ramsey. Staff is looking for <br />direction on identifying some community business leaders that should be invitedto help move <br />Ramsey in the right direction. Staff foresees a group of business owners meeting with City and <br />EDA members to discuss what is hflPpening in the community and to make suggestions on how <br />things could be done differently to help business grow and to contribute to the funding of the <br />study. <br /> <br />The cost of the study is $70,000. Staff feels that a public/private partnership that works together <br />to increase the business potential for Ramsey will meet goals of both parties. The benefits <br />received from the Buxton Study and having an ongoing business forum are important to the <br />success of the community and financial participation by both entities Will lead to a successful <br />partnership. <br /> <br />Funding Source: <br /> <br />EDA Budget / Private Contributions <br /> <br />Recommendation: <br /> <br />Host a meeting of owners from the three commercial nodes as well as other community leaders <br />to discuss the future of Ramsey and to ask for financial support of the Buxton Study. <br /> <br />EDA Action: <br /> <br />Based on discussion <br /> <br />EDA: 6.12.08 <br /> <br />8 <br />