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<br /> <br />August 20, 2007 <br /> <br />Ms. Michelle Wolfe <br />City Administrator <br />City of Arden Hills <br />1245 West Highway 96 <br />Arden Hills MN 55112 <br /> <br />Dear Ms. Wolfe: <br /> <br />Thank you for contacting Maxfield Research Inc. to provide a proposal to analyze the potential demand <br />for various housing products and commercial space that would be located on the TCAAP site in Arden <br />Hills, Minnesota. We would be delighted to work with the City of Arden Hills on this important property. <br /> <br />\,.{ ." <br />As we understand, the City is interested in evaluating a proposed redevelopment plan for the Site that <br />would incorporate for-sale and rental housing of various building types and densities in addition to com- <br />mercial retail and office space. Maxfield Research Inc. has reviewed the proposed redevelopment plan in <br />addition to the TCAAP Master Plan and has prepared a work program and associated costs to complete <br />the market analysis. <br /> <br />The attached work program presents our understanding of the project, a scope of work tasks required to <br />evaluate the market potential to support the proposed development plan as submitted by Ryan Companies. <br />As provided to us, the proposed development plan calls for a variety of single-family homes on varying <br />size lots and a variety of for-sale multifamily products. Also proposed are rental apartments and senior <br />housing, which may be owned or rental. <br /> <br />Included with this proposal is additional background information on Maxfield Research Inc., its work and <br />services along with resumes of staff that would be assigned to this project. Additional staff that may also <br />be assigned to this project include Ms. Peny Nguyen, a graduate student in economics at Hamline Univer- <br />sity. Ms. Nguyen may be asked to complete tasks associated with gathering base demographic and eco- <br />nomic information pertinent to the analysis. <br /> <br />Please review the attached document. If this agreement meets with your approval, please sign and return <br />one copy of the agreement to us. Please contact me if you have any questions about the proposed work <br />program or if you need other information. <br /> <br />I would be the primary contact and Project Manager for the completion of this analysis. You may contact <br />me at (612) 904-7977 if you have any questions about the proposed work program or if you need any otb- <br />er information. You can also email meatmbuiold(Ulmaxfieldresearch.com. <br /> <br />612-338-0012 (fax) 612-904-7979 <br />615 First Avenue NE, Suite 400, Minneapolis,!v1N 55413 <br />www.maxfieldresearch.com <br />