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Scope of Services and Fee Estimate An Analysis of Residential Market Potential Page 3 Downtown South Bend City of South Bend, St. Joseph County, Indiana January 7, 2013 SCOPE OF SERVICES The scope of services includes: PHASE ONE: PROJECT INITIATION TASK 1.1 —DATA COLLECTION The City will provide any previous relevant studies and base maps for the Downtown Study Area in advance of the area visit. TASK 1.2— CLIENT MEETING A Zimmerman /Volk Associates principal will meet with appropriate city personnel and /or stakeholders during the area visit to review the objectives of the study and the methodology to be employed in the analysis. A key goal of the meeting will be to ensure that Zimmerman /Volk Associates possesses all pertinent data regarding the Study Area, as well as to review potential study area delineations, specific development sites, and schedule. TASK 1.3 —STUDY AREA EVALUATION Zimmerman /Volk Associates will evaluate the characteristics, constraints and opportunities of the Downtown, and the potential for market -rate residential development. Residential opportunities will be assessed based on the character of the Downtown, location of vacant or under - utilized sites or buildings, potential amenities, and the Downtown's potential position within the housing market context. Residential market activity within areas germane to the City of South Bend will be evaluated during this visit. TASK 1.4— INTERVIEWS Real estate professionals (brokers, sales agents, leasing managers, developers, builders, bankers, city personnel, residents, neighborhood representatives) and other stakeholders familiar with the nuances of the South Bend market area will be interviewed for their opinions on market challenges and opportunities in the Downtown. TASK 1.5— INITIAL PRESENTATION A principal of Zimmerman /Volk Associates will make a presentation, using PowerPoint, at a meeting to take place on a specified date during the initial area visit. Based on the firm's extensive experience with downtowns, the presentation will discuss the evolution of the market for downtown housing, and the impact the recent housing collapse, recovery and shifting neighborhood preferences, among other factors, are having on the housing market in general and urban locations in specific. ZIMMERMAN /YOLK ASSOCIATES, INC.