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<br />Mr. Norrell stated that this study would identify what companies would work here and which <br />ones would not based on the psychographics. The study could be used to identify an anchor <br />tenant and then to go from there. <br /> <br />Members Elvig and Skaff wanted to know if we look at what retailers are already near by and <br />whether or not a stand alone retailer would work in Ramsey. <br /> <br />Mr. Norrell Stated that they have all of the retailers in their database but they don't know what <br />each stores circles of influence are. <br /> <br />Mr. Hart from the Solomon Group wanted to know how long it would take to complete the study <br />and when it will be started. He also stated that he welcomed the idea of have an objective 3rd <br />party coming in to evaluate the Town Center area and that the area seemed to feel some energy <br />with the l,atest development. Mr. Hart was very encouraged about the rail corridor and stated that <br />it could have a big impact on which users would choose to identify here. He suggested that this <br />study would help identify. which businesses were likely to come rather than chasing improbable <br />tenants. <br /> <br />Member Elvig commented that it was nice to here that there is some 'energy' in the area. He <br />also wanted to know if the study would help identify a time frame for fully developing the Town <br />Center. The City was sold a 3 year build-out from the previous developer and wanted to get an <br />update on a new timeline. He also noted that the 167th node has had its troubles of late and <br />wondered whether or not the study could provide some insight on why it was failing. <br /> <br />Mr. Norrell stated that the study will be a snapshot in time and will not look 3 years out. Impacts <br />such as opening a train stop could change the psychographics and therefore the potential business <br />prospects. The study would not give an estimated build-out timeframe. He also stated that the <br />study will only look at traffic counts, not patterns. The study would not take a specific look at <br />lake cabin traffic at would only count the vehicles. <br /> <br />Economic Development Consultant Mulrooney asked if it would identify retailers (like Cabellas) <br />that would expand the trade area? <br /> <br />Mr. Norrell stated it would only identify retailers that would fit the psychographics. If a <br />Cabella's type store would work here the City could draw out own conclusions. <br /> <br />Member Elvig expressed a need to keep the existing, or develop a vision for Town Center. He <br />asked if a road map could be put in place to keep a development on track. <br /> <br />Mr. Norrell stated that the study would put a reality to the plans in existence. A step by step <br />process will identify what will work now in the properties current condition and what will not <br />based on the retailers target markets. <br /> <br />Member Steffen inquired as to the amount of time that will be spent on the three areas identified <br />for the study. If only one area was looked at it would seem that there would be a reduction in <br />cost. <br /> <br />Economic Development Authority/May 15, 2008 <br />Page 3 of 7 <br />