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32 <br />A Guide to Retail Impact Studies <br />33 <br />This 2008 report is a guide for Maine municipal officials on implementing Maine’s 2007 <br />34 <br />Informed Growth Act. The Maine law requires independent, developer-funded comprehensive <br />35 <br />impact studies for all new retail establishments over 75,000 square feet. The guide lays out <br />36 <br />methodology on how to conduct the retail impact study. According to the guide, the retail <br />37 <br />impact study looks at the following: <br />38 <br />Identifying the line of goods to be offered in the proposed store. <br />39 <br />Forecasting of sales for each line in the proposed store. <br />40 <br />Estimate the amount of jobs associated with the forecast sales in the proposed <br />41 <br />store. <br />42 <br />Create an analysis of the area retail activity, which includes: <br />43 <br />Determination of the market area. <br />o <br />44 <br />Quantifying the demand for and actual retail sales in the market area by <br />o <br />45 <br />line of goods. <br />46 <br />Quantifying the retail employment and wages in the area. <br />o <br />47 <br />Conduct site visits and surveys of existing retail stores. <br />o <br />48 <br />Forecast how much of the proposed retailer’s sales will be new to the area versus <br />49 <br />drawn from existing merchants. <br />50 <br />Forecast changes in retail employment and wages. <br />51 <br />Forecast impacts on municipal revenue and costs. <br />52 <br />Although it is not clear from this report, it appears that the Maine municipalities are required to <br />53 <br />use this information when making land use decisions. The State of Minnesota currently does not <br />54 <br />have any requirement similar to Maine. <br />55 <br />RCA <br />EQUESTED OUNCIL CTION <br />56 <br />No action required. Material provided for discussion. <br />57 <br />Prepared by: Patrick Trudgeon, Community Development Director (651) 792-7071 <br />Attachments: A: Executive Summary of “Study of Metropolitan Area Fiscal Disparities Program”. <br /> B: “A Guide to Retail Impact Studies” <br /> C: Email from Councilmember McGehee providing links <br />Page 2 of 2 <br /> <br />