Agenda - Council - 06/25/2002 - Laserfiche WebLink

Home

CONSIDER MARKET ANALYSIS STUDY By: James E. Norman, City Administrator Background: During the March 25, 2002, Ramsey Town Center Task Force meeting, Development Consultant Mike Mulrooney made the recommendation that the Task Force would require sound economic development information available which would be helpful in order to track interest of quality development for the commercial portion of the Town Center Project. The Town Center Task Force made the recommendation to the City Council for a market analysis study. During the Council meeting of May 14, 2002, the City Council authorized a market analysis study be performed by Associated Retail Consulting (ARC), a company Mulrooney had identified shortly before the Council meeting. The Council Action based its approval subject to an approved budget cap and further evaluation of the consultants by staff. During this evaluation phase, Mulrooney sought additional interest from another qualified vendor called the McComb Group, Ltd., and requested that they also submit a proposal for consideration. Mr. Mulrooney received the proposal by the McComb Group and compared their proposal with the ARC proposal. Mulrooney's findings found that there would be savings in using the McComb Group. His analysis also found that there was more professional and project experience with the McComb Group. Mulrooney's findings are in the letter attached to this case. Based on the recommendations by Mike Mulrooney, staff would recommend that the City enter into an agreement with the McComb Group Ltd., for the market analysis study. Council Action: Motion to enter into an agreement with McComb Group Ltd. to perform market analysis for proposed Town Center area. Reviewed by: City Administrator Community Development Director Principal Planner Finance Officer Development Consultant CC: 06/25/02 -355-