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Economic Development Authority (EDA) 4. 3. <br />Meeting Date: 06/09/2011 <br />By: Aaron Backman, Administrative <br />Services <br />Title: <br />Buxton Study Follow-up <br />Background: <br />In May of 2008 Brandon Norell of the Buxton Group, a Texas company, presented to the Ramsey EDA a proposal <br />to develop a Retail Economic Development Strategy for the community (a revised proposal from July 2008 is <br />attached). The cost of the study was $65,000. Subsequently the Buxton Group completed the SCOUT, trade area, <br />and site assessment portions of the study authorized by the EDA. The Ramsey Retail Site Assessment was <br />completed in August of 2008 (see attachment). It included information re Ramsey's retail sites, Retail Site 1 & 2 <br />Analyses (Ramsey Town Center and the 167th Commercial Node), Site Comparison, Brief Segment Descriptions, <br />Leakage & Demand Analysis, and a Demographic Report. <br />Following the presentation of the Retail Market Analysis report in September, the Buxton Group provided a list of <br />retail matches by location for the study. Mr Norell presented the findings of the Retail Market Analysis at the <br />October 2008 EDA meeting. The EDA was provided a list of retail matches by location for the study. Buxton was <br />defining the trade area, identifying and profiling customers, matching customers to retailers. Certain retailers were <br />identified as not a match. <br />At the 2011 ICSC members of the Ramsey team talked with Joseph Fackel of Buxton. He indicated that the <br />original agreement with Ramsey did not mention including a "refresh" as part of the cost. He indicated that a <br />project refresh cout be done as part of an annual SCOUT subscription. Mr. Fackel will be in the Twin Cities in July <br />and would be willing to make a presentation to the Ramsey EDA regarding the SCOUT program. Staff is seeking <br />to verify whether an update or "refresh" option was in place for this study. Staff will provide more information <br />about the Buxton study and follow-up at the EDA meeting. <br />Observations: <br />Funding Source: <br />N/A <br />Staff Recommendation: <br />Informational at this time. <br />EDA Action: <br />No action is requested at this time. <br />Final Buxton Proposal <br />Retail Market Analysis <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Aaron Backman (Originator) Aaron Backman 06/03/2011 04:40 PM <br />Form Started By: Aaron Backman Started On: 06/03/2011 04:01 PM <br />Final Approval Date: 06/03/2011 <br />