4 Funding for Retail Study
CITY OF
CHANHASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone: 952,227,1100
Fax: 952,227.1110
Building Inspections
Phone: 952,227.1180
Fax: 952,227.1190
Engineering
Phone: 952,227.1160
Fax: 952,227.1170
Finance
Phone: 952,227.1140
Fax: 952,227.1110
Park & Recreation
Phone: 952,227,1120
Fax: 952,227.1110
Recreation Center
2310 Coulter Boulevard
Phone: 952,227.1400
Fax: 952,227,1404
Planning &
Natural Resources
Phone: 952,227.1130
Fax: 952,227,1110
Public Works
1591 Park Road
Phone: 952,227,1300
Fax: 952,227.1310
Senior Center
Phone: 952,227,1125
Fax: 952,227,1110
Web Site
www.ci.chanhassen.mn.us
4
MEMORANDUM
TO:
Todd Gerhardt, Executive Director
FROM:
Justin Miller, Assistant Executive Director..:s-.l'-
DATE:
o~
\'"
December 6, 2005
RE:
Expenditure of TIF Funds for Retail Market Study
BACKGROUND
Staff has proposed enlisting the McComb Group to conduct a market analysis of
the Chanhassen trade area to quantify the retail potential in the city. This
proposal was presented to the council at the November 28th work session, and
again at the December lih City Council meeting. Staff was directed to find a
funding source for this study.
The Chamber of Commerce has agreed to support this project in the amount of
$5,000. Staff is recommending that the remaining $37,175 be paid out of the
Entertainment TIF district. This TIF district is a redevelopment district, which
allows retail uses. The other city TIF districts are either economic development
or housing districts,whichdo not allow for TIF funds to be used for retail
purposes. Staff has asked Ehlers and. Associates ifthisis an allowable use ofTIF
funds, and they haveagreedthatitis.
RECOMMENDATION
Staff recommends that the Chanhassen Economic Development Authority
authorize the expenditure of $37,175 from the Entertainment TIF District for the
purposes of a retail market study to be conducted by the McComb Group. This
action requires a majority vote for approval.
The City ot Chanhassen · A growing community with clean lakes, quality schools, a charming downtown, thriving businesses, winding trails, and beautiful parks, A great place to live, work, and play,