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I <br /> I <br /> I <br />I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> <br />ADDENDUM TO RAMSEY TOWN CENTER RETAIL MARKET ANALYSIS <br /> By: Megan Wald, Associate Planner ' <br /> <br />Background: <br /> <br />On January 13, 2003 the EDA made a recommendation to the City Council to move forward <br />with a market analysis for the retail node of Highway #47 and' 167th Avenue, contingent upon <br />staff working with McComb Group to. negotiate a more cost' effective proposal. The City Council <br />reviewed the recommendation during their January 28, 2003 meeting. The City Council directed <br />staff to obtain additional proposals. <br /> <br />Observations: <br /> <br />Economic Development consultant, Mike Mulrooney, submitted Requests for Proposals to. <br />Maxfield Research Inc. and Associated Retail Consulting. The City received a proposal from <br />both companies on Monday, February 24, 2003. Maxfield Research Inc. quoted a price of <br />$19,140.00 and Associated Retail Consulting submitted a bid of $90,000~ EConomic <br />Development Consultant, Mike Mulrooney, submitted a memo outlining the scope of work <br />requested from all three groups and provides a recommendation regarding what company the <br />City may want to go enter into an agre_ement with based on price and experience. <br /> <br />The Following Item is enclosed for your review: <br /> <br />1. Memo from Economic Development Consultant, Mike Mulrooney <br />2. McComb Group, Ltd. Proposal <br />3. Maxfield Research Inc. Proposal <br />4. Associated Retail Consulting Proposal <br /> <br />Recommendation: <br /> <br />As Mike Mulrooney outlines in his memo, two companies submitted competitive.bids. Maxfield <br />Research Inc. base fee is. $18,640 and the previous proposa[ the City received from McComb <br />Group Ltd. Is $18,200. The difference between the two proposals is how much they are <br />estimating as reimbursable expenses and. experience. Maxfield Research Inc. has quoted $500 <br />and McComb Group Ltd. is estimating $2,500 as reimbursable .expenses.. Mr. Mulrooney states <br />in his memo that the expenses item of the proposal can be managed and. n~gOtiated prior to the <br />execution of the agreement. <br /> <br />Experience is probably the primary difference.between McComb Group and Maxfield Research. <br />McComb Group has extensive experience in retail industry, and has conducted market research <br />for retail stores and shopping centers of all types. McComb Group is a full service retail and real <br />estate consulting firm specializing in market research and financial feasibility. McComb Group' <br />has experience working in Ramsey as James McComb completed a Retail Market Analysis for <br />the proposed Town Center. <br /> <br />Maxfield Research Inc. has a good reputation and they have experience in conducting retail <br />studies, however their experience appears to more related, to the housing industry compared to <br />McComb Group who has more experience related to the retail industry. <br /> -207- <br /> <br /> <br />