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xfield <br />Research. Inc. <br />August 10, 2005 <br />MEMORANDUM <br />TO: Mr. Greg Hayes <br />Shingobee Builders <br />FROM: Ms. Mary C. Bujold <br />Maxfield Research Inc. <br />RE: Summary of Growth Trends and Potential Market for Housing and <br />Commercial Uses for Village at Hardwood Creek <br />Maxfield Research Inc. has reviewed projected growth trends and overall market conditions in <br />Lino Lakes and the surrounding communities as they relate to the potential demand for housing <br />and commercial retail uses as proposed for the Village at Hardwood Creek master - planned <br />development. <br />The following paragraphs summarize our findings. <br />Growth Trends <br />Lino Lakes, several of the surrounding communities and Anoka County, in general, have been <br />growing rapidly as the Twin Cities population base continues to spread outward. As shown on <br />the following table, Lino Lakes is projected to add 5,500 people and 2,243 households during the <br />2000s. According to estimates published by Minnesota Planning, the State demographer, Lino <br />Lakes was estimated to have 18,368 people and 5,433 households as of 2003, well on their way <br />to achieving the 2010 projected growth figures. <br />Employment growth is not projected to be as strong as growth in population and households. <br />Nevertheless, the community is expected to add 506 new jobs by 2010. Most of these jobs are <br />expected to be in service- related industries including education, business and government <br />services, and retail. A concern voiced by residents in the community indicated a need for more <br />jobs locally. <br />615 Is' Avenue NE #400, Minneapolis, MN 55413 <br />(612) 338 -0012 fax (612) 904 -7979 <br />www.maxfieldresearch.com <br />