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<br />BiB MCCOMB GROUELtd. <br />000 REA L EST ATE AND <br />RETAIL CONSULTANTS <br /> <br />December 27,2004 <br /> <br />Mr. John Meyer <br />CITY OF CENTERVILLE <br />1880 Main Street <br />Centerville, Minnesota 55038 <br /> <br />Dear Mr. Meyer: <br /> <br />In response to your request, we have prepared a work program to conduct market analysis to <br />determine future demand for retail and residential development in Centerville. The objectives of <br />this engagement are to: <br /> <br />. Delineate a retail trade area for Centerville and estimate future residential <br />development and households for 2010, 2015, 2020 and 2025. <br /> <br />. Estimate demand for retail, service, and office service space in Centerville for 2010, <br />2015,2020 and 2025. <br /> <br />. Evaluate Centerville's existing commercial area. <br /> <br /> <br />. Determine demand and absorption for residential development in Centerville. <br /> <br /> <br />. Identify the types of housing suitable for development in Centerville. / <br /> <br />( <br />, <br />\ <br />The work program described below is designed to fulfill these objectives and estimate demand <br /> <br />for retail and residential development in Centerville. <br /> <br />WORK PROGRAM <br /> <br />The work program outlined below is designed to fulfill the above objectives. Specific work tasks <br />are described below. <br /> <br />. Study Area Evaluation <br /> <br />Centerville's central area will be evaluated to determine their suitability for commercial <br />and residential development. Factors to be evaluated include, but are not limited to: <br />location, ingress and egress, access, visibility, current and future traffic counts, and <br />relationship to adjacent uses. <br /> <br />. Competitive Shopping Areas <br /> <br />Shopping areas competitive with Centerville will be identified and evaluated to determine <br />competitive impacts on future retail development. Principal competitors will be <br />identified and evaluated for tenant mix, retail GLA, and anchor stores. <br /> <br />222 South Ninth Street Suite 3S0 Minneapolis, Minnesota 55402 . (612) 339-7000 Fax: (612) 338-5572 <br />