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Mr. James Norman, City Administrator <br />City of Ramsey <br /> <br />February'21., 2003 <br /> <br />BUSINESS ORGANIZATION/PROJECT EXPERIENCE <br /> <br />Maxfield Research Inc'. isa fUll-serviCe market research.firm proViding research and consulting <br />services to the real estate industry. We provide market assessments and market feasibility <br />studies for a wide variety of projects including, but not limited to. housing ·(for-sale, rental, market <br />rate, ·affordable, senior, mul'tifamily, single-faxnily, transitional), office, industrial, retail, mixed- <br />use, multi-use, master-planned communities, financial institutions, hospital/W, and. recreational <br />developments. We also provide expeg testimony for litigation involving real estate· tax issues <br />and condemnation cases. <br /> <br />Maxfield Research Inc. is not currently ·involved in. any litigation from past or current <br />construction, management projects over the last five years. <br /> <br />Maxfield Research Inc. is not currently and does not expect to declare financial insolvency with <br />respect to current business operations. . <br /> <br />Maxfield Research Inc. has been voluntarily and involuntarilY terminated from a. project in three <br />to four instances. In each of the cases where termination was involved, the Clients made <br />'decisions to place thei~ research project on indefinite hold orto terminate the research because 1) <br />the Client had' lost their option on the property and the project was no longer moving forward <br />(one case) or 2) the Client determined that the initial market analysis results showed their project <br />infeasible and research was terminated (three cases). In all cases, the Client agreed to·paY <br />Maxfield Research Inc. for work completed up to the date of termination. In no instance was <br />Maxfield Research Inc: terminated for failure to perform or breach of contract. <br /> <br />PROFESSIONAL ORGANIZATION · <br /> <br />Maxfield Research Inc. currently employs nine people, including eight research staff and. one <br />administrative support person. <br /> <br />.If Selected,' MaXfield Research Inc. agrees to provide the necessary qualified human and <br />technical resources to meet the consultant needs of the City. " <br /> <br />PROJECT UNDERSTANDING <br /> <br />It is our understanding that the City of Ramsey is concerned with the long-term viability of the' <br />Commercial district located at TH,47 and t 67th Avenue in RamseY due to increasing competition <br />from new businesses locating in rapidly grow. lng northern suburbs such. as Coon RapidS, Anoka, <br />Kamsey and St. Francis. This competitive pressure along with the proposed Ramsey Town . <br />Center necessitates a more thorough understanding of current and future market dynamics that <br />will have an impact on businesses located in this .area as well as the potential for new <br />development at Ramsey Town Center. We understand'that the selected consultant will work <br />closely with the existing businesses to determine existing customer base (geographic location <br />either home or work and their primary reason for shopping at the business). <br /> <br />I <br /> <br />I <br />I <br />I <br />I <br /> <br />I <br />I <br />I <br /> <br />-222- Maxfield Research Inc. 1 <br /> <br /> <br />