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<br />REQUEST FOR ACTION <br /> <br /> <br /> <br />T O I TEM N UMBER <br /> <br />Housing Redevelopment Authority 4.6 <br />A GENDA S ECTION M EETING D ATE P REPARED BY <br /> <br />ConsentJune 1, 2015Amanda Othoudt, EDD <br />I TEM D ESCRIPTION R EVIEWED B y <br /> <br />Request for authorization for staff to enter into an agreement Cal Portner, City Administrator <br />with Maxfield Research to update the 2012 housing study. <br />R EVIEWED BY <br /> <br /> <br /> <br />AR <br />CTION EQUESTED <br />Authorize staff to enter into an agreement with Maxfield Research to update the 2012 housing study. <br /> <br />B <br />ACKGROUND <br />The Elk River HRA conducted its last housing study in 2012. The anticipated outcome of the study is to <br />determine availability of different segments of housing in Elk River and to plan for the future of the <br />housing market in Elk River. Back in 2012, the study indicated that there were over 400 undeveloped lots <br />within the Elk River housing market due to the volatility in the housing market. <br /> <br />The market has certainly improved since then, and it is anticipated that the findings from the study will <br />show substantial changes in the market over the past 3+ years. <br /> <br />D <br />ISCUSSION <br />Staff recommends moving forward with Maxfield research to conduct the housing study. Upon <br />approving the agreement, Maxfield would complete the study in 75-90 days. <br /> <br /> <br />FI <br />INANCIAL MPACT <br />The HRA budgeted $12,000 to update the housing study in 2015. Should the HRA select to have <br />Maxfield Research update the study, the cost of the study will be $12,500. The balance of $500 would <br />come out of the professional services line item. <br /> <br /> <br />Attachments <br /> <br /> <br /> <br />Maxfield Research Proposal <br /> <br /> <br /> <br />