10/06/09 - Laserfiche WebLink

Home

CASE #5 CONSIDER ATTENDANCE AT ICSC CHICAGO DEAL MAKING By: Amber G. Miller, Planning Manager Background: The EDA hired the Buxton Group to conduct a market study for Town Center and the 167th Commercial node. The EDA authorized sending the Economic Development Coordinator and City Administrator to accompany the City Council at the Global ICSC Conference in May and valuable connections were made with key retail decision makers. Good discussions were held with Bass Pro Shop, CVS and Buffalo Wild Wings to name a few. The City purchased 150 acres of Town Center on June 26th and a Steering committee has been formed to help re-vision the Town Center project and to make recommendations on how the project might move forward both in structure and in form. A City Council contingent also made a trip to Altoona, IA for a grand opening of the Bass Pro Shop location to complete a detailed follow-up and to learn more about what this particular retailer needs to consummate a deal. Staffhas also remained in contact with retailers from Global ICSC via e-mail, updating them as to the status of the Town Center project. Observations: It is important to continue to have a presence in the retail world in order to remain relevant to key decision makers. ICSC Chicago will have a number of retailers and brokers present with a purpose of making some deals to move forward on projects. This is a much smaller event than the Vegas conference and its purpose is more along the lines of meetings with specific retailers as opposed to the larger networking done in Vegas. To date, the Steering Committee has not completed its re-visioning of Town Center and no formal recommendations have been made specific to the future of Town Center. New marketing packages for Town Center will need to be developed at a later date, once recommendations from the Steering Committee regarding vision, branding and marketing are made. However, some marketing materials that are site specific could be prepared for some of the contacts that were previously established. Our Town Center website could be updated which would also make our unused cue cards current marketing material again. Mayor Ramsey has already signed up for the conference and is planning on touring other transit-based developments while in Chicago. Darrin Lazan, of Landform, will also be in attendance. The HRA should consider the level of attendance in ICSC Chicago. This event is smaller in nature but maintaining a presence in the retail world is important. The EDA is meeting later this week to determine who they will approve sending to this conference. It is likely the Economic Development Coordinator and the City Administrator will be attending. The cost for registration to the just conference is $325 for members with lodging starting at $225 per night per person. Travel could be done via auto and this would make visiting transit-based developments more efficient. If the HRA does approve funding for members to attend ICSC it should require a report from attendees as to the findings and lessons learned.