10-15-07 Special Mtg Item 4A TCAAP Housing Study

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Ms. Michelle Wolfe City of Arden Hills August 20, 2007 Page 4 Secondary published data is always reviewed carefully in light of other local factors revealed through the primary research that may have an impact on the analysis. The result is a custom analysis that provides the Client with information that is timely and locally pertinent. A detailed Scope of Services on the following pages outlines the specific tasks we will undertake to complete the analysis. RESEARCH STAFF Mary Bujold, President of Maxfield Research Inc., will serve as Project Manager for this study. Mary will oversee the work program and review all work completed for the project. Ms. Bujold has over twenty years' experience in residential and commercial market research and is regarded as an expert in the field of residential real estate. Mr. Jay Thompson, Vice President, will serve as the principal analyst for the project. Mr. Thompson will be responsible for conducting a large portion of the fieldwork associated with the project, including interviews and data collection, along with analyzing the data, preparing the conclusions and recommendations, and compiling the written report. Mr. Thompson was the lead analyst on several recent comprehensive housing studies, including studies completed for the Cities of Albert Lea, Austin, New Ulm, Marshall, Owatonna, and Vermillion, South Dakota. Mr. Ryan Bergman, Research Analyst, will provide data gathering and analysis services for this project. Mr. Bergman will be responsible for compiling demographic data and gathering market information for the various types of housing. Mr. Bergman has worked on a wide variety of res- idential housing analyses during his time with Maxfield Research Inc. Individual bios of the project staff are included at the back of this proposal. Ms. Peny Nguyen, graduate economics student and full-time intern with Maxfield Research Inc. will also provide assistance with gathering and compiling data for the residential and commercial components of the analysis. SELECTED STUDIES / REFERENCES Analysis of Redevelopment Plans for Cedar Grove Redevelopment Area in Eagan, Minnesota Maxfield Research Inc. was engaged by the City of Eagan to review current redevelopment plans for the Cedar Grove area of Eagan, an area that has been targeted by the City for substantial re- development. The Cedar Grove area is considered to be a "gateway" into the City. The City re- quested that Maxfield Research Inc. review the original redevelopment plan and assess current market conditions and timing for retail, office, hospitality and multifamily housing in the Cedar Grove area. Analysis and recommendations focused on the ability of the City to attract certain types of land uses in the Cedar Grove area, the potential timeframe for redevelopment and mar- MAXFIELD RESEARCH INC.