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May 26, 2015 <br />Ms. Amanda Othoudt <br />Economic Development Director <br />City of Elk River <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />CONTRACT FOR PROFESSIONAL SERVICES <br /> <br />Maxfield Research Inc. proposes to provide market research and csulting services to the City <br />of Elk River (the Client) to prepare a Comprehensive Housing Needs Analysis. The housing <br />study will update all information from the previous analysis completed by Maxfield Research in <br />2012. The needs analysis will determine the market potential for developing different typ <br />owned and rented housing through 2025 based on an examination of demographic and em- <br />ployment growth trends and current housing market conditions. Detailed recommendations <br />(number of units/lots; unit mix and sizes; prices/rents; housing <br />the housing types identified as needed in the short-term (2015 to 2020) and long-term (2020 to <br />2025) would be provided. <br /> <br /> <br />DESCRIPTION AND BIOGRAPHY OF FIRM <br /> <br />Maxfield Research Inc. has over 30 years of experience in assisting communities to determine <br />market conditions for planning and development efforts, providindemographic estimates and <br />projections, and analyzing county and municipal commercial and residential real estate needs. <br />Our thorough knowledge of market trends in the real estate indus <br />clients with valuable information that affects planning and development. We are able to de- <br />termine viable solutions to the issues that communities face. Wa- <br />tional with work completed in over 40 states. <br /> <br />Maxfield Research Inc. provides research and analysis in the are <br />student housing, senior housing, office, retail, hospitality, industrial, and financial institutions. <br />Maxfield also has experience in organizing and conducting focus s- <br />tering on-line and mail surveys, holding public forums for large scale pla <br />organizing and making presentations to city councils, planning commissions, and economic de- <br />velopment authorities. A more detailed company overview is located in th <br />(main) 612-338-0012 (fax) 612-904-7979 <br />1221 Nicollet Mall, Suite 218, Minneapolis, MN 55403 <br /> <br />www.maxfieldresearch.com <br />