5.0. 6.0. 7.0. 8.0. 9.0. HRSR 01-22-2001

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• In addition, Maxfield will also schedule a series of five meetings with staff, the HRA, and downtown business owners to conduct research, provide updates, present results, and make recommendations. McComb Group, Ltd. - $19,700 The McComb Group is also a Minneapolis based market research firm with considerable experience in commercial development. The firm has been in business since 1974 and its client list includes both public and private entities throughout Minnesota and the country. The McComb Group proposes completing an analysis of the retail and office sectors in the downtown area. Data for the analysis will be compiled through primary research using customer surveys and business owner/manager interviews and published statistics. The analysis will be constructed according to the following outline: • Inventory and physical evaluation of the downtown area. • Evaluation of competitive areas. • Analysis of the downtown trade area. • Estimation of potential commercial and office development in downtown. • The McComb Group will also hold a series of five meetings with the HRA, staff, and downtown business owners through the course of the study to solicit input, discuss recommendations and present the findings. Bonz/REA, Inc. - $21,000 Bonz/REA is a Boston based firm that provides real estate consulting services, including redevelopment and feasibility studies, to both the private and public sectors. The company occasionally works with Minneapolis based Hoisington-Koegler Group, Inc., who completed the Riverwalk Plan in 1996. Most recently, Bonz/REA completed a development potential study for the Northstar Rail Corridor Authority at each of the station locations. Bonz/REA's proposal includes a demographic summary and a market analysis of the residential, retail, and office sectors. Data will be collected using surveys, interviews and published statistics. The sector analysis will include: • An assessment of current market conditions. • An estimation of market potential for each sector. • An analysis of economic inflow and outflow for the downtown. • An identification of potential market niches. • Cash flow estimates for potential projects. Bonz/REA will also hold a series of meetings with downtown stakeholders to collect data and present results.