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(a A ( 2)_ •u„ Community & Economic Development 1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 To: Redevelopment Commission From: David Relos, Economic Development Planner Subject: Professional Services Agreement — Dakota Worldwide La Salle Square grocery store analysis Date: June 14, 2012 As part of the ongoing efforts to improve the retail environment of the La Salle Square area, the neighborhood has targeted a grocery store as an important need. To facilitate attracting a grocer, members of the La Salle Square Steering Committee have had discussions with professionals in the grocery store industry. An identified resource to help understand the profitability of a proposed grocery store at any location, but specifically for La Salle Square, Dakota Worldwide was recommended. Dakota will study the area, define a trade area, and most importantly, generate sales forecasts for a three year period. These sales forecasts are an important tool that would be able to be input into an interested party's pro forma statements, to help them understand expected profit margins. As part of Dakota's proposal, they will also do this same analysis for a downtown location. Dakota's report will include a competition map, a summary of that competition, a trade area delineation, an analysis of the proposed site, and a three year sales forecast for both La Salle Square and downtown. Their fee for these two reports is $6,500 plus expenses in the not -to- exceed amount of $1,600, for a total of $8,100. Staff requests approval of this Professional Services Agreement, in a not -to- exceed amount of $8,100. What We Do Today Makes A Difference!