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(5) Event Attendance & Networking <br /> The development world is a relationship business. The city could put more of an emphasis on staff <br /> attending various networking events, trade shows, etc. Examples (site selectors events, commercial real <br /> estate development association, and the global retail convention). <br /> Examples:siteselectorsguild.com, icsc.org <br /> (6) Master Developer <br /> Private sector organizations that specialize in managing large developments. This opportunity comes in <br /> many forms. On one end, the city could sell all city owned land in/ near The COR to a master <br /> developer. Then, let the master developer work the the city to develop their property (much like PSD <br /> LLC). On the other end of the spectrum, the city could simply hire a master developer for consulting/ <br /> professional services. The city would maintain control of land. Another option is in the middle, the city <br /> to allow a developer an option to purchase, or a commission for sale, on all city owned land. However, <br /> the master developer would manage/ partner in all development services/ planning/ marketing. <br /> The positives with this alternative include: an organization that has experience successfully managing <br /> and completing large developments, the ability to bring in owner equity or equity partners,the city <br /> would only be dealing with one entity rather than several, and a "partnership relationship." The <br /> drawbacks would include: master developers often have their own opinion,vision, and priorities, master <br /> developers may only work with certain users, and may exclude other users, master developers may <br /> pressure the city to reduce development standards and development fees to get deals done, and if <br /> master developer were to pick up all city-owned land upfront, they would likely only do so for a <br /> discounted price. <br /> Lastly, it should be noted, the city may want to consider engaging PSD LLC about strategy for marketing <br /> The COR. They are a major land owner, and a partnership may yield certain efficiencies and <br /> synergy. Regardless of which alternative is selected as part of this discussion, staff will recommend <br /> formally connecting with PSD LLC. <br /> Examples:kadevelopment.com, riryan.com, rVancompanies.com, opus-group.com <br /> (7) Market Research Firms <br /> Private organizations that specialize in providing detailed/specific research for real estate--including in- <br /> depth marketing analysis, and demographic analysis. This could be useful for Ramsey in the areas of <br /> retail (restaurants and shopping), anchor users (theaters), hotels, and office users. This could also be <br /> useful in aiding staff/ brokers with better understanding what our best, and most market realistic, <br /> development opportunities in Ramsey are, and will be into the future. This could also help us better <br /> understand the customer profiles of potential shoppers. <br /> These firms would likely bill like any professional services firm--by project or by hourly rate. These firms <br /> would pay a lot of attention to Ramsey's customized research needs. These firms would not have a <br /> motivation to close deals. The city would use our EDA marketing dollars to fund this work (and <br /> potentially EDA professional services dollars). A benefit of this alternative is no commission payments <br /> on land transactions (i.e. we could maximize land proceeds). Also, we wouldn't be tied into a contract. <br /> Page 4 of 5 <br />