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<br /> <br />Ms. Michelle Wolfe <br />City of Arden Hills <br /> <br />August 20, 2007 <br />Page 10 <br /> <br />b. Inventory competitive multi-tenant office buildings in the Trade Area, including <br />information on size of building, lease rates/sales price, tenant profile, and build- <br />ing style. <br />c. Interview office leasing brokers regarding demand for space on the subject <br />property; provide information on types of tenants, overall market trends, and the <br />potential for additional office space on the subject property. <br /> <br />Cost: $2,500.00 <br /> <br />4. Conclusions and Recommendations <br />a. Calculate demand for office space in the Trade Area through 2020, including <br />the proportion of demand that can be captured by the subject project. <br />b. Suggest appropriate development concepts for the office component, such as <br />multi-tenant leased space, executive suites, office condominiums. <br />c. Project absorption. <br />d. Identify existing or needed amenities to reach absorption targets. <br />e. Examine the potential synergies between office and retail and housing in a mas- <br />ter-planned community on the subject property. <br /> <br />Cost: <br /> <br />$3,000.00 <br /> <br />5. Meetings and Client Contact <br />a. One initial orientation meeting in person with Client to review study objectives. <br />b. One meeting in person to review market information and draft findings of the <br />report. <br />c. One formal presentation meeting to key stakeholders. <br />d. Final preparation of report document. <br /> <br />Cost: <br /> <br />$1,000.00 <br /> <br />Total Cost of Commercial Component: <br /> <br />$15.000.00 <br /> <br />COST OF SERVICES <br /> <br />The work outlined under Scope of Services-Residential Component will be performed for Seven- <br />teen Thousand Nine Hundred Forty-Five Dollars ($17,945.00) and under the Scope of Services <br />Commercial Component will be performed for Fifteen Thousand Dollars ($15,000.00), including <br />out-of-pocket expenses for printing, postage, long-distance telephone, data purchases, mileage <br />and 5 copies of the final report and payable as follows: a) the balance of the contract amount due <br />in monthly installments based on Maxfield Research Inc.' s completion of work. <br /> <br />If the two components are completed simultaneously, there would be a cost savings of$3,000.00 <br />to complete the two together. <br /> <br />MAXFIELD RESEARCH INC. <br />