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WS 2006 04 24 CHANHASSEN CITY COUNCIL WORK SESSION APRIL 24, 2006 The City Council held an executive session from 5:30 p.m. to 6:00 p.m. to receive an update on the litigation with Kraus Anderson, Library Project. Mayor Furlong called the work session to order at 6:00 p.m.. COUNCIL MEMBERS PRESENT: Mayor Furlong, Councilwoman Tjornhom, Councilman Peterson and Councilman Lundquist COUNCIL MEMBERS ABSENT: Councilman Labatt STAFF PRESENT: Todd Gerhardt, Justin Miller, Kate Aanenson, Greg Sticha, Paul Oehme and Todd Hoffman KEY FINANCIAL STRATEGY: MCCOMBS RETAIL MARKET STUDY. Jim McCombs from The McComb Group gave a power point presentation outlining the findings of their retail market study. The study showed where existing shopping areas are located in the city and a breakdown of the composition of the different types of retail. He reviewed how the new Highway 312 corridor will affect development. Survey results showed the percentage of trade area versus inflow numbers and provided demand projections from previous census data. Statistics are placing Chanhassen as a highly desirable location for convenience, downtown and lifestyle trade areas. The downtown area does not need additional retail space, with the exception of waiting to see what happens with the Chanhassen Dinner Theater. He talked about future development sites in relation to Highway 312 and provide a definition of “lifestyle center” and what type of stores tend to locate in lifestyle centers. The intersection of Highway 101 and 312 was identified as a convenience trade center area. Mayor Furlong asked about the amount of square footage needed for a lifestyle center. Kate Aanenson informed the council that Mr. McCombs would be giving the same presentation to the Chamber of Commerce at their luncheon th tomorrow, Tuesday, April 25. Todd Gerhardt stated that the results of the study show that Chanhassen does have a retail market and it is up to the City Council how they want to take advantage of that market. Mr. McCombs stated that the downtown retail area will not be affected by additional retail areas in other parts of the city. Mayor Furlong adjourned the work session meeting at 6:30 p.m.. Submitted by Todd Gerhardt City Manager Prepared by Nann Opheim