Buxton Study Refresh 

In May of 2008 Brandon Norell of the Buxton Group, a Texas company, presented to the Ramsey EDA a proposal to develop a Retail Economic Development Strategy for the community. The cost of the study was $65,000. Subsequently the Buxton Group completed the SCOUT trade area and site assessment portions of the study authorized by the EDA. The Ramsey Retail Site Assessment was completed in August of 2008 (see attachment). It included information re Ramsey's retail sites, Retail Site 1 & 2 Analyses (Ramsey Town Center and the 167th Commercial Node), Site Comparison, Brief Segment Descriptions, Leakage & Demand Analysis, and a Demographic Report.

Following the presentation of the Retail Market Analysis report in September of 2008, the Buxton Group provided a list of retail matches by location for the study. Mr Norell presented the findings of the Retail Market Analysis at the October 2008 EDA meeting. The EDA was provided a list of retail matches by location for the study. Buxton was defining the trade area, identifying and profiling customers, matching customers to retailers. Certain retailers were identified as not a match.

At the 2011 ICSC members of the Ramsey team talked with Joseph Fackel of Buxton. He indicated that the original agreement with Ramsey did not mention including a "refresh" as part of the cost. He indicated that a project refresh could be done as part of an annual SCOUT subscription.  Staff sought to verify whether an update or "refresh" option was in place for this study. At the June 9, 2011 EDA meeting the Commissioners indicated to the Economic Development/Marketing Manager that it was their understanding that the contract did indeed indicate that a "Refresh" would be done as part of the original contract at no added expense.  On page 16 of the contract it states, "Beginning in the third year, a complete refresh will be provided using updated data."  The third year would end in August of 2011. Following the EDA meeting the Economic Development/Marketing Manager contacted Buxton re the Refresh. After some e-mails and phone calls the Buxton Group subsequently agreed a "Refresh" of the Retail Site Assessment was part of the contract and that they would undertake it promptly beginning the later part of June.

Attached is some correspondence related to the project timeline.  The City of Ramsey Trade Area Map has been posted to SCOUT.  At the EDA meeting we will review the trade area map and discuss next steps. Staff will provide more information about the Buxton Refresh and follow-up at the EDA meeting.

Informational at this time. 

No action is requested at this time.