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Ramsey Town Center Task Force Draft Minutes March 13, 2003 Members Present: Vice-Chair Bonnie Thompson Councilmember Al Pearson Mary Jo Olson Steve Sis Will Thompsen Eric Watson Absent: Chair Alena Hunter Also Present: Principal Planner Patrick Trudgeon Community Development Intern Amy Geisler Tim Engen Bruce Jacobson Motion by Will Thompsen to approve the meeting minutes from 1/23/03, 2/13/03, and 2/27/03, Eric Watson seconded, motion passe& Ramsey Town Center LLC Update. Principal Planner Trudgeon introduced Tim Engen and Bruce Jacobson from Ramsey Town Center, LLC. Mr. Engen said they would be updating the Task Force on three topics: market analysis, the overall design process, and sales efforts. Tim Engen reviewed a handout on Town Center market information and compared it to the McComb Group's market study. Ramsey Town Center LLC's analysis shows a much larger trade area and estimates the Town Center project will capture approximately 10% of that market. Principal Planner Trudgeon asked whether 10% was a typical capture rate. Mr. Engen said 30-40% was typical, but that they were taking a more conservative approach. He added that the analysis focuses on the project's sales potential per square foot. There was discussion about how retail market share might change as the area continues to develop. Mr. Engen said the analysis assumes all retail elements will be present: if not, then the share for each retail element could shift. Bruce Jacobson updated the Task Force on the Town Center design process to date, and emphasized that the project is still very much a work in progress. Mary Jo Olson asked about the potential for a bandShell. Mr. Jacobson said it was a possibility in the public plaza area. He added that they were paying particular attention to the scale of such elements. Mr. Jacobson said they were also looking at children's use of the site, and said design that works well for children generally works well for everyone.