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visits with Ramsey staff members. He noted that the most successful clients lean on the outreach <br /> team to the fullest, including the conference calls and on-site visits. He stated that a huge <br /> component of what they do is business retention as well; capitalizing on how new foot traffic <br /> could also benefit the existing businesses. He stated that they would provide the existing retail <br /> businesses with a competitive advantage with on-demand trade area reports and market <br /> intelligence specific to each business, which helps keep local dollars local. He stated that the <br /> application is included in the package and is called LSMX, which helps local businesses <br /> understand who their customers are, how to target customers, and how to market to those <br /> customers and potential customers. <br /> Member Riley left the meeting. <br /> Mr. Gundstenson provided information on the Scout platform that Buxton uses and the City <br /> would have available for all members of staff able to access. He thanked the EDA for their time <br /> and provided information on what the City could expect in the first 60 days of a one-year <br /> partnership. He noted that within the first. 60 days Buxton would gather the data for the <br /> consumer driven story to develop the strategic list of retails and then work on implementation of <br /> that list. <br /> Acting Chairperson Skaff stated that he was a member of the EDA ten years ago when the City <br /> partnered with Buxton and felt that the City did not get much out of it at that time, <br /> acknowledging the challenges of the recession. <br /> Mr. Gundstenson acknowledged that in the past model some clients were successful while others <br /> were not and therefore Buxton revamped their model to provide additional support with <br /> implementation. He stated that Buxton works every day with retailers to find new locations. He <br /> stated that very different from the last partnership, Buxton will be involved in implementation, <br /> reaching out to retailers that would fit with Ramsey and marketing to those retailers. He stated <br /> that Buxton would stay involved through conference calls, in person site visits, and conference <br /> attendance on behalf of the City. <br /> Acting Chairperson Skaff stated that there are questions from the community on the desire for an <br /> anchor, such as Target, and asked if this partnership would provide that information to share with <br /> the community. <br /> Mr. Gundstenson stated that after completing the data collection process, perhaps it would be <br /> found that Target would not be the best for this community. He stated that perhaps the process <br /> would identify that retailer would not be the best fit and would identify a retailer that would be a <br /> better fit for the consumers in this area and spur additional foot traffic to bring in more retailers. <br /> Acting Chairperson Skaff asked for information on the fee. <br /> Mr. Gundstenson stated that in the past they looked at a one-year term but now model on a three- <br /> year term. He stated that within the first 60 days of year one they would do all the leg work to <br /> identify the City's grow strategy and find brands that fit within that strategy to develop the list of <br /> targeted retailers. He stated that once that list is composed, the implementation team would send <br /> Economic Development Authority/November 9,2017 <br /> Page 5 of 8 <br />