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<br />Ms. Michelle Wolfe <br />City of Arden Hills <br /> <br />August 20, 2007 <br />Page 8 <br /> <br />G. Conclusions and Recommendations <br />1. Calculate demand for owned and rented housing in the draw area through <br />2020, based on projected employment and household growth trends and pent- <br />up demand. <br />2. Calculate demand for senior housing by service level through 2012. <br />3. IdentifY potential target markets for different types of housing developments including <br />for-sale single-family and multifamily, rental, and senior housing. <br />4. Suggest appropriate development concepts in the short-term (the level of development <br />that can be supported over the next five years) including number of units, unit mix, unit <br />sizes, sale prices or monthly rents, and in-unit features and common area amenities. <br />5. Provide a range of potential demand that can be supported in the long-term (within the <br />next ten years, fifteen years); identifY the potential demographic trends and residential <br />product types that may be appropriate for development in the long-term timeframe. <br /> <br /> <br />Cost: <br /> <br />$2,700.00 <br /> <br />H. Meetings and Report Preparation <br />1. Two internal research review meetings. <br />2. In person, discuss the draft version of the report with the Client. <br />3. In person, one presentation of the final report to the Client. <br />4. Final preparation of report document. <br /> <br />Cost: <br /> <br />$1,000.00 <br /> <br />Total Cost for Staff Time-Residential Component: <br /> <br />$17.945.00 <br /> <br />SCOPE OF SERVICES-Commercial Component <br /> <br />Retail Market Analysis <br /> <br />A. Retail Demographic Analysis and Market Conditions <br />I. Define the trade area for retail at the subject property based on community orienta- <br />tion, travel patterns, and proximity to competitive developments. <br /> <br />Cost: <br /> <br />$500.00 <br /> <br />2. Analyze Retail Market Trends in the Trade Area <br />a. Examine demographic growth trends and characteristics of the Trade Area. <br />b. Examine retail expenditure data for households in the Trade Area. <br />c. Examine data on overall retail sales trends in the Trade Area. <br />d. Examine secondary data on retail space construction and absorption since 2000. <br /> <br />Cost: <br /> <br />$800.00 <br /> <br />3. Existing Retail Market Conditions <br /> <br />MAXFIELD RESEARCH INC. <br />