Laserfiche WebLink
<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: Se <br /> <br /> <br />Appropriation <br /> <br />Requested By: <br /> <br />Source of Funds:Community Investment <br /> <br />Department: <br /> <br />Account Number: 036-6061 <br /> <br />Report: <br /> <br />Resolution: <br /> <br />Ordinance: <br /> <br />x <br /> <br />Amount Budgeted: $70,000 <br /> <br />Exhibits: Ordinance <br /> <br />Amount Requested: $63,000 <br /> <br />Exhibits: Proposal <br /> <br />Budgeted Item: YES NO <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />Council has expressed an interest in attracting more retail development to La Porte. The FY05-06 Budget <br />includes funds for an Economic Development Study focusing on retail opportunities. One company that <br />provides such focus on retail is Buxton & Associates. <br /> <br />The proposal from Buxton offers a 10% price reduction (from $70,000 to $63,000) if the City is willing to <br />execute an agreement by September 30,2005. <br /> <br />The product is a sole source product. The scope of services to be provided by Buxton includes: <br /> <br />Retail Potential and Retail Site Determination <br />1. Establishment of retail trade areas for each site based upon drive times <br />2. Analysis to the suitability of each site and its trade area. Factors considered include but are not <br />limited to: <br />a. Psychographic analysis of households <br />b. Demand for retail goods and services <br />c. Existing retail and retail trends in the trade area and surrounding region <br />d. Site setting, situation and configuration <br />e. Growth plans and relevant developments <br />3. Buxton recommendation of the retail site and trade area with the most potential <br />4. Discussion and approval of a site with which to proceed to retail matching <br /> <br />Identification of Retail Matches for Selected Site <br />1. Comparison of site trade area with existing retail location trade areas <br />2. Identification of preliminary target list of matching retailers <br />3. Additional analysis of preliminary targets <br />4. Determination of recommended list of matching retailers <br />5. Discussion and approval of fmallist of matching retailers for which marketing packages will be <br />prepared <br /> <br />Action Required bv Council: <br /> <br />Approve Ordinance authorizing the City Manager to execute the Agreement with The Buxton Company. <br /> <br /> <br />q --;)1;-155 <br />Dat <br />