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HomeMy WebLinkAbout02-15-2008 CITY OF MOUNDS VIEW ECONOMIC DEVELOPMENT COMMISSION MEETING AGENDA MOUNDS VIEW CITY HALL FRIDAY, FEBRUARY 15, 2008 7:30 A.M. 1. CALL TO ORDER 2. ROLL CALL Chair Helgemoe, Vice Chair Meehlhause, Commissioner Belting, Commissioner Entsminger, Commissioner Johnson, Commissioner Larson, Commissioner Wagner, Community Development Director Jim Ericson and Economic Development Specialist Heidi Steinmetz 3. APPROVE EDC AGENDA 4. APPROVE EDC MINUTES: A. January 18, 2008 EDC Minutes 5. SPECIAL BUSINESS 6. EDC BUSINESS A. 2006 Retail Trade Analysis Presentation - Bruce Schwartau, U of M B. Introduce New Property Manager for Silver View Plaza - Katie Viere C. Discuss Business Improvement Partnership Program Interest Rate D. Finalize 2008 EDC Priorities E. Review Economic Development Component of Comprehensive Plan F. Internal Public Communications/Marketing Assessment 7. REPORTS OF COMMISSIONERS 8. REPORTS OF STAFF A. Medtronic Tour- Wednesday, February 20, 2008 at 8:00 a.m. B. Premium Stop Redevelopment 9. NEXT EDC MEETING: Friday, March 21, 2008 at 7:30 a.m. 10. ADJOUNMENT Not Approved Minutes of the Economic Development Commission • City of Mounds View Ramsey County, Minnesota Regular Meeting January 18, 2008 City of Mounds View, Council Chambers 2401 Highway 10, Mounds View, MN 55112 1. CALL TO ORDER: Chairperson Jason Helgemoe called the meeting to order at 7:42 a.m. 2. ROLL CALL: Members Present: Jackie Entsminger (arrived at 7:50 am.), Jason Helgemoe, Torri Johnson, Dan Larson, Gary Meehlhause and Jennifer Wagner Members Absent: Greg Belting Staff Present: Community Development Director Jim Ericson Economic Development Specialist Heidi Steinmetz 3. APPROVAL OF AGENDA: Motion/Second: Commissioner Johnson moved and Commissioner Meehlhause seconded the approval of the January 18, 2008 EDC agenda. Motion Carried: 5 Ayes 0 Nays 4. APPROVAL OF EDC MINUTES: Commissioner Johnson noted a typo on page 2,#7,3'paragraph of the November 16,2007 minutes. The hyphen needed to be removed from "X-cel". Motion/Second: Commissioner Johnson moved and Commissioner Entsminger seconded the approval of the November 16, 2007 EDC minutes. Motion Carried: 6 Ayes 0 Nays 5. SPECIAL BUSINESS A. Recognize Outgoing Commissioners Jerry Jaker&Tom Field Ms. Steinmetz mentioned that she and Council member Mueller visited Jerry Jaker at his office earlier this week to present him with a Council Resolution thanking him for his two years of service on the EDC. Tom Field will attend the Feb. 11th EDA meeting to receive his Resolution. EDC Minutes Not o f p�C C rovad January 18, 2008 �l Page 2 B. Oaths of Office-Incoming Commissioners Daniel Larson & Jennifer Wagner Daniel Larson and Jennifer Wagner read and signed their oaths of office at the EDC meeting. They also explained to the EDC why they chose to serve on the EDC. C. Elect 2008 EDC Chairperson &Vice Chairperson Motion/Second: Commissioner Johnson moved and Commissioner Entsminger seconded nominations that Chair Helgemoe and Vice Chair Meehlhause serve another year as Chair and Vice Chair of the EDC. Motion Carried: 6 Ayes 0 Nays 6. EDC BUSINESS A. Discuss 2008 Economic Development Priorities Ms. Steinmetz provided an overview of last year's EDC priorities, the Council's Economic Development priorities and the Economic Development goals included in the Comprehensive Plan. She also provided updates on last year's top three EDC priorities, which were the Premium Stop Redevelopment Area, Silver View Plaza and County Hwy 10 • Redevelopment. The Commission proceeded to draft their 2008 priorities as follows: 1. Development/redevelopment along County Hwy 10 Corridor a. Premium Stop Redevelopment Area b. Saturn Dealership c. Silver View Plaza d. Trailway connections to businesses e. PAK building f. Establish partnerships among neighboring cities in order to strengthen the County Hwy 10 corridor(i.e.potential name change for County Hwy 10) g. Knollwood Place & Johnson Property 2. Skyline Motel Redevelopment 3. Monitor and assist with City-wide housing projects The EDC planned to finalize their 2008 priorities at the next EDC meeting. B. Review Economic Development Component of the Comprehensive Plan The Commission planned to discuss this item at the next EDC meeting. EDC Minutes January 18, 2008 Not //nn�� ,ter Approovsd Page 3 C. Discuss Public Communications and Marketing Ms. Steinmetz asked for input regarding a potential marketing assessment or strategy. The Commission did not express interest in conducting a professional assessment but discussed the need to reexamine how to best use Economic Development marketing dollars. 7. REPORT OF COMMISSIONERS Commissioner Meehlhause asked staff to check into the status of The Car Wash Company on Hwy 10 because it seems as though a fire occurred at the facility. Depending on what the owners plan to do, Commissioner Meehlhause mentioned that the property could be incorporated into the Premium Stop Redevelopment Area. Chair Helgemoe added that white barrels were blocking access to the property and perhaps something more attention grabbing would keep patrons off the property. Chair Helgemoe stated that he attended the Twin Cities North Chamber luncheon on January 17th. A General Mills executive spoke about wellness in the workplace. Chair Helgemoe encouraged the EDC to attend future Chamber luncheons. 8. REPORTS OF STAFF A. Medtronic Tour-Thursday, January 31, 2008 Commissioners Larson and Wagner are unable to make the tour. Ms. Steinmetz offered to try and schedule another tour. B. Premium Stop Redevelopment This item was discussed earlier in the meeting. C. Silver View Plaza This item was discussed earlier in the meeting. D. Totino's Italian Kitchen The grand opening is still scheduled for Spring 2008. 9. ADJOURNMENT There being no further business before the Commission, Chairperson Helgemoe adjourned the meeting 9:10 a.m. Respectfully submitted, Heidi Steinmetz Economic Development Specialist S Item Numbers: 6A Meeting Date: February 15, 2008 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Heidi Steinmetz, Economic Development Specialist Item Title/Subject: 2006 Retail Trade Analysis Presentation Background: The EDC has expressed concern over the vitality of Silver View Plaza for quite some time. Due to high vacancy rates, it seems as though either a retail use is no long viable for the site and/or the property is not being properly marketed or managed. Therefore staff authorized a Retail Trade Analysis to be completed by the University of Minnesota Extension office as a first step in trying to understand Mounds View's retail market and how it may relate to Silver View Plaza. Attached is information on what a Retail Trade • Analysis is and how it may help the City and the property owner. Discussion: Staff received both 2005 and 2006 versions of the analysis since we requested the analysis bordering the time when the 2006 sales tax data was about to be available. The 2007 sales tax data will not be available until later this year, so the 2006 analysis is the most up-to-date information possible. Staffs hope is that the attached 2006 analysis will assist the property owner's(Kraus- Anderson) tenant recruitment strategy. Staff provided the 2005 version of the analysis to the property owner in late 2007 in an attempt to encourage them to conduct an independent market study of the property. Staff also provided the property owner with three quotes from Economic Development research firms to conduct a market study. Kraus-Anderson has not committed to completing a study at this time. Bruce Schwartau of the University of Minnesota Extension office will present the 2006 analysis at the EDC meeting and provide details of how it can be used to assist the City and the property owner to make better use of the property. February 15,2008 EDC Meeting Page 2 of 2 Recommendation: • Staff recommends that the EDC continue its discussion from November 2007 regarding its vision for the property considering the analysis. The discussion should help the new property manager understand the concerns for the property. Attachments: • Retail Trade Analysis Flyer • 2006 Mounds View Retail Trade Analysis Respectfully submitted, ,fi tc am- 1/ :‘.it�c' Heidi Steinmetz Economic Development Specialist • • Retail Analysis and Development 0 Retaining Retail Stores and Customers in the Community Opportunities to Strengthen Local Businesses Many retail markets have changed dramatically over the past decade,and they continue to change.As retailers adjust to new local economic realities, businessmen,planners,and civic leaders look for tools to help them retain a healthy focalretailmarketp/ace.Retail Trade Analysis and Small Store Success Strategies,separate but complementary programs,are important tools available from the University of Minnesota Extension Service. Retail Trade Analysis Small Store Success Strategies An important new tool for strengthening a local marketplace Small Store Success Strategies-tips to compete in a big box is now available through the University of Minnesota world-shows local business owners and store operators a Extension Service.This tool-a Retail Trade Analysis - successful, tested approach to marketing, merchandising, provides sure knowledge of local sales data. It helps a customer service, and business operations, community's planning for business expansions or recruitment. Arrival of big box retailers need not be a death sentence A Retail Trade Analysis shows your town how it compares to for community businesses.The mega stores can, in fact, other communities. It helps communities like yours assess create local retail opportunities. Big box retailers create an strengths and opportunities for their businesses. It helps you enlarged local trade area, drawing more potential customers uncover your retail strengths and opportunities. Detailed into the community. Smart local businesses can harness and Retail Trade Analysis program information is available for all add some of that increased traffic to their own customer Minnesota counties and cities with populations greater than base, and keep more of their local customers shopping 5,000, and University of Minnesota Extension Service regional with them. xtension educators for community economics can help you understand how to use it. And it's not just wishful thinking! Researchers have shown that these benefits are real, and that they provide the Analysis Leads to Understanding potential for local retail survival, and even opportunities for business growth. How healthy is retail in your community?A Retail Trade Analysis quickly provides a historical report that helps you: RI Know your community's actual retail potential. A Comprehensive Approach El Learn which retailers are attracting shoppers to your town. Extension's Small Store Success Strategies is a 90-minute El Learn what your community's retail opportunities are. program with ready-to-use tips on harnessing the advantages RI Find out which businesses are drawing shoppers away from of having a nearby big box retailer, to grow local businesses. your town. El Understand your town's pull factor: what it means and Small Store Success Strategies provides proven ways for local why it matters! retailers to coexist and grow in the shadow of the big box retailer. It provides ideas for how local businesses can prosper by refocusing around services and products big box retailers Analysis Leads to Retail Opportunity avoid. How can your community use this Retail Trade Analysis? El Use it to jump-start a retail trade improvement plan. El Use it as a checkup on your existing retail plan. A Proven Approach EI Use it to help local businesses. Many Minnesota communities already successfully apply the El Use it to attract new businesses. strategies of this program to strengthen local retailing. Your El Use it along with Small Store Success Strategies to survive community can succeed with them too! Don't wait until it's the big box retailers, too late! lover for more on"Retail Trade Analysis"J lover for more on"Small Store Success Strategies"' illUNIVERSITY OF MINNESOTA Extension winommim [more on"Retail Trade Analysis") [more on"Small Store Success Strategies") 0i6‘n important business development tool, Retail Trade Analysis Small Store Success Strategies is an important mainstreet s affordably available to Minnesota's communities through business tool! the University of Minnesota Extension Service. Support from ll Discover how to know your customers better, and what the Blandin Foundation allows your community to access that should tell you about your retail strategies. this important data at a fraction of the cost others charge to p Learn how to have high expectation and high performance. deliver it. El Identify ways to provide outstanding service to your Each community that purchases the Retail Trade Analysis customers. El Learn marketing and merchandising strategies to keep you will receive a printed report for their community and county, a digital presentation file, and a computer file from which to competitive. make additional copies of their report. El Learn how to price against unbeatable prices?We give you effective pricing strategies. Ef Understand why advertising works, and how it might help Each individualized report will define the pull factors your business. available to your community.The report will also describe 0 Learn how effective return policies and store hours can your community's current local retail market, evaluate your help you reach more customers. retail trends, show how your community compares to others, El Understand how to turn handling customer complaints and evaluate how your actual sales compare to your sales into new sales opportunities. potential! © Learn to improve business operations and much more! Retail Trade Analysis and Small Store or economic development entities For more information on the costs Success Strategies work together, but for retailers in their community.The for bringing these programs to your communities can choose to participate "analysis" program is designed to help community,or to arrange to sponsor 0 n either or both. economic development units, retailers, a program in your town, contact bankers, chambers of commerce, local a regional extension educator for The "strategies"workshop is usually media companies, public officials and community economics at the University organized by business associations others plan for a healthier retail market. of Minnesota Extension Service. Regional Extension Educators,Community Economics —Northwest— —Northeast— Ryan Pesch; 218-998-5794; Pesch@umn.edu Liz Templin; 763-767-3880; templin@umn.edu —Southwest— —Southeast— David Nelson; 320-589-1711; nelso417@umn.edu Bruce Schwartau; 507-536-6308; bwschwar@umn.edu Contacts in the Seven-County Metropolitan Area Sherri Gahring; 612-624-1708; sgahring@che.umn.edu Kent Gustafson; 612-625-8274; kgustaf@umn.edu For More Information Also Check:www.extension.umn.edu/retail Community Vitality:Strengthening Local Economies Through Informed Community Decisions Your Partner in Creating A Vital Community—For More than a Century—The University of Minnesota Extension Service Find More University of Minnesota Extension Service Materials on the World Wide Web www.extension.umn.edu ©Copyright 2005,Regents of the University of Minnesota.All rights reserved.Address copyright inquiries to:Copyright Coordinator,University of Minnesota Extension Service,405 Coffey Hall,1420 Eckles Avenue,St.Paul MN 55108-6068;e-mail copyright@ extension.umn.edu;fax 612-625-2207. orhis publication is provided for educational purposes only. The University of Minnesota Extension Service is an equal opportunity educator and employer. In accordance with the Americans With Disabilities Act,this material is available in alternative formats upon request. Please contact your University of Minnesota Extension Service county office,or outside of Minnesota contact the Distribution Center at 800-876-8636. June 2005 / M1189 -tail Trade AnIY is Report . Mounds View & Ramsey County, .. Minnesota FE i hM1 Funding provided by The Blandin Foundation and University of Minnotota Extension't Community Vitality,capacity area Copyright*2008,Regents of the University of MinneSot8.Alt rights tSServed. In accordance with the Americans With Disabilities Act,this material is available in alternative formats upon request.Please Octritsfit your UNIVERSITY OF t NN RSOTA University of Minnesota Extension office Or the Distribution Center at(860 878-8838. E x T E N S I Q N The University of Minnesota Extension is committed to the policy that all persona shall have equal access to its programs,facilities,and employment without regard to race,color,creed,religion,national origin,sex,age,marital status,disability,public assistance Status,veteran status,of sexual orientation.� .. Introduction The University of Minnesota Extension has developed this retail trade analysis program to assist in the economic development of Minnesota towns and cities. These reports are available for all Minnesota counties,for most cities above 5,000 population and for a few cities smaller than 5,000 population. The retail sector of each jurisdiction can be evaluated by comparing its trends to those of other similar jurisdictions. Business people and economic development officials can use measures such as pull factors and leakages to determine the need and feasibility of new retail businesses. Data Sources Most of the data in the analysis are based on annual reports of Minnesota retail and use tax,published by the Minnesota Department of Revenue. The Department of Revenue published an annual report of sales and use tax by jurisdiction until 1996,at which time the reports were released biannually due to budget constraints. This analysis uses the available reports from 1990-1996, 1998,2000,2003,2004,2005 and 2006.The reports interpolate data for the years in which data are not available.(See http://www.taxes.state.mn.us/taxes/legal_policy/research_reports/sales_use_statistics_main.shtml)The income data in this report are obtained from reports by Bureau of Economic Analysis(BEA).(See http://www.bea.gov/regional/reis) Population data are derived from the U.S.Census.(See http://www.census.gov/popest/estimates.php) Sales and use tax permit holders file returns and remit taxes on either a monthly,quarterly or annual basis. Large businesses such as discount department stores whose tax is more than$500 per month are required to file on a monthly basis,while medium-sized businesses whose sales tax collections are less than$500 per month,are required to file on a quarterly basis and small businesses with sales tax collections less than$100 per month would most likely file on an annual basis. • Definition of Terms Gross Sales Gross sales include taxable sales and exempt sales for businesses holding sales and use tax permits. This is the most comprehensive indicator of business activity for the reporting jurisdictions and is the measure used in this report,unless otherwise noted. Taxable Sales Taxable sales are the amount of sales subject to sales tax. Taxable sales exclude exempt items,items sold for resale,items sold for exempt purposes and items sold to exempt organizations.For more information on what is taxed in Minnesota,see "Minnesota Sales and Use Tax Instruction Booklet"availabe on the web at http://www.taxes.state.mn.us/taxes/sales/instructions/st bk07.pdf) Current and Constant Dollar Sales Current dollar(or"nominal dollar")sales are sales as reported by the state.No adjustment has been made for price inflation. In general this measure of sales is not satisfactory for comparisons over long periods of time since it does not account for changes in population,inflation,or the state's economy.Constant dollar (or"real dollar")sales reflect changes in price inflation by adjusting current dollar sales with the Consumer Price Index(CPI).Constant dollar sales indicate the real sales level with respect to a base year.This is a more realistic method of evaluating sales over time than current dollar comparisons,but still does not take into consideration changes in population or changes in the state's economy. • Page 1 Number of businesses The number of sales and use tax permit holders who filed one or more tax returns for the year are reported as the number of businesses. Reporting Period The reporting periods in this report are calendar years. For example,the sales reported for the year 2000 are for the period, January 1,2000 to December 31,2000. Per Capita Sales Per capita(or"per person")sales are calculated by dividing current dollar sales by the population estimate. In areas where population is subject to substantial change,this is a more satisfactory measure of sales activity than sales alone. However,it still does not reflect changes in the state economy. Pull Factor The pull factor was developed by Dr.Ken Stone,an economist from Iowa State University Extension Service to provide a precise measure of sales activity in a locality. It is derived by dividing the per capita current dollar sales of a city or county by the per capita sales for the state. For example,if a city's per capita sales are$20,000 per year and the state per capita sales are $10,000 per year,the pull factor is 2.0($20,000+$10,000). The interpretation is that the city is selling to 200 percent of the city population. Pull factors are good measures of sales activity because they reflect changes in population,inflation,and the state economy. • Pull factors are available through the Extension Service for total taxable sales for all cities with reported sales(generally, cities with a population of 5,000 or more)since 1990. The pull factors listed in this report are not adjusted for differing income levels in different communities;they are simply the ratio of local per person sales to the state average. Income levels are accounted for in the expected sales and potential sales formulas,described below. Typical Pull Factor The typical pull factor is a pull factor that represents the"norm"for cities within a population group.It is an average for cities within a population group taking into account any outliers in the group. Personal Income Personal income is defined as the income received by,or on behalf of,all the residents of the county(state)from all sources. Personal income is the sum of wage and salary disbursements,supplements to wages and salaries(e.g..contributions to retirement funds,health plans,life insurance policies),proprietors'income,rental income,personal dividend income, personal interest income,and personal current transfer receipts to persons(e.g.receipts of Social Security,disability,worker's compensation,Medicare/Medicaid,food stamps,etc.)less contributions for government social insurance(e.g.Social Security, Medicare). (For more details,see http://www.bea.gov/regional/pdf/spi2005/alternative_measures.pdf). Index of Income This index provides a relative measure of income,calculated by dividing local per capita income by state per capita income. The base is 1.00. For example,an index of income of 1.20 indicates that per capita income in the area is 20 percent above the state average. III Page 2 Expected Sales Expected sales is a retail performance benchmark. It is an estimate of the sales level a town would achieve if it were performing on par with Minnesota towns of a similar size. In addition to population and income variables,expected sales incorporates the typical strength of comparable communities via the typical pull factor. Expected sales is the product of city population,state per capita sales,the index of income and the typical pull factor. For example,if a city has a population of 5,000,the state per capita sales are$9,000,the typical pull factor is 1.30,and the index of income is 1.03,expected sales is approximately$60 million per year(5,000 x$9,000 x 1.30 x 1.03). This provides a means of comparing what is expected for a city of a certain size to what is actually happening. Potential Sales Potential sales is an estimate of the amount of money that is spent on retail goods and services by residents of a county.It is the product of county population,state per capita sales and the index of income.The potential sales concept for counties is similar to the expected sales calculations for towns.However,potential sales does not utilize a measure of average pulling power(like the typical pull factor that is used in the expected sales equation). Since a county is a relatively large region within which retail business takes place,counties are compared without adjustments for trade area size. Variance Between Actual and Expected Sales (Surplus or Leakage) The variance between actual and expected sales is how much retail sales differ from the"norm"(i.e.,the amount above or below the standard established by the expected sales formula).When actual sales exceed expected sales,we say the city has a "surplus"of retail sales. When actual sales fall short of expected sales,we say the city has a retail sales"leakage".The set of 4110 similarly-sized cities in Minnesota is the"peer group"to which the comparison is being made. Discrepancies between expected and actual sales occur for a variety of reasons. Proximity to larger population centers,management,marketing,and transportation patterns are just a few factors that can cause the retail sales of a particular town to deviate substantially from expected sales. It is important that decision-makers consider these influences when constructing policies,plans,or projects. The surplus or leakage is expressed in dollars, percentages,and customer equivalents. The use of the analysis will dictate which measure best conveys the information, though all are equivalent. In the case of leakages,the dollar amount is usually the easiest to use since it immediately conveys the potential sales for new businesses. Trade Area Population Gain or Loss The trade area population gain or loss translates the percentage amount of surplus or leakage of retail sales into an estimate of the number of customers gained or lost in the trade area. It is calculated by multiplying the percent surplus or leakage by the population estimate for the city or county. For example,if a city with 10,000 residents had a retail sales surplus of 20%,the trade area population gain would be 2,000. Adding this number to the city's population gives an estimate of the population size of the city's trade area. III Page 3 Cautions Gross Sales Gross sales is a comprehensive measure of business activity,but readers should be aware that the numbers in this report are self-reported by holders of sales and use tax reports. Furthermore,the gross sales are not audited by the State of Minnesota. It is believed that the gross sales figures are generally reliable,but there is the possibility of distortions,especially in smaller cities where misreporting may have occurred. Misclassification Holders of sales and use tax permits select the Standard Industrial Classification(SIC)category that best fits their business. Regardless of who makes this classification,errors are occasionally made. Also,sometimes a business will start out as one type of business,but may evolve over time to a considerably different type of business. Misclassifications can distort sales among business categories,especially in smaller towns. For example,a furniture store that is classified as a general merchandise store,will under-report the sales in the furniture store category and over-report the sales in the general merchandise category. Suppressed Data The sales data for merchandise categories that have less than four reporting firms are not reported. This is a measure taken by most states to protect the confidentiality of sales tax permit holders. The sales for suppressed categories are placed into the miscellaneous category and are included in total sales. Consolidated Reporting Vendors doing business at more than one location in Minnesota have the option of filing a separate return for each location or filing one consolidated return for all locations. The consolidated return shows,for each business establishment,the sales made,tax due and location by city and county. Data for the establishments of consolidated filers are combined with data for • single-location filers to produce the figures in this report. Occasionally consolidated reports may not be properly deconstructed and all the sales for a company may be reported for one town or city. Whenever misreporting is discovered, contacts are made with the Minnesota Revenue Department to clarify the situation. Changes Between 2000 and 2003 For fiscal year 2003,the Minnesota Department of Revenue implemented two major changes to improve their reporting of sales and use tax data. First,they adopted a geo-coding system,which accurately identifies the location of all business reporting sales and use tax to the state rather than relying on the businesses'postal addresses. One effect of this change is a movement of sales between neighboring cities(and in some cases,counties)in the year 2003. Thus,in several of the suburbs of Minneapolis and St.Paul and in cities such as Hermantown,which is adjacent to Duluth,the data show large increases in retail sales between 2000 and 2003,a substantial portion of which is due to the re-coding of business location and not to The second change implemented by the Department of Revenue in 2003 was a shift from the Standard Industrial Classification system(SIC codes)to the North American Industry Classification System(NAICS codes). This switch does affect the comparability of the data series prior to 2000 with that of 2003(and beyond),especially for merchandise categories. Overall retail and services sales are highly comparable over time. In many cases,the merchandise categories for the data prior to 2003 are very closely related to the new categories. For example,approximately 97%of the 2003 statewide sales in the general merchandise category were accounted for by firms also classified as general merchandise under the SIC system. In other cases,the correspondence is less straightforward. For example,only 56%of 2003 statewide sales in the Food and Beverage store category were accounted for by firms classified as Food Stores under the older classification system;41%of 2003 Food store sales were accounted for by firms previously categorized as Miscellaneous Retail. The NAICS system does provide greater detail and introduces some new sectors,such as Retail Electronics. Over time,these changes will improve the information available for retail trade analysis.For additional information,please see www.taxes.state.mn.us/taxes/1 egal_policy/other_supporting_conten t/salesuse_%202003_stati stics_introduction.shtml. Changes Starting in 2006 0 The Sales and Use Tax Statistics report for 2006 uses a slightly different methodology than in previous years.Rather than basing the report on the year in which sales were made(as was true in earlier reports),the 2006 report is based on when returns were processed.To best approximate the economic activity for calendar year 2006,this report includes all returns processed from February 2006 through January 2007.Returns are included in the report regardless of the date of sale. Page 4 Mounds View Retail Trade Overview IIIITotal Taxable and Gross Retail Sales The table below presents gross and taxable retail and services sales for Mounds View from 1990 through 2006. Taxable sales in Mounds View increased 75.6 percent from 1996 to 2006,while the number of firms rose 5.7 percent. Statewide,taxable sales increased 59.4 percent over the same time period and the number of firms rose 7.9 percent. The per capita sales and pull facto r data in this table are based on taxable sales,the more verified sales measure. The table also presents sales data in constant 2006 dollars. These figures have been adjusted for inflation to reflect their value in 2006.For example,in 1990,taxable sales in Mounds View totaled$19.97 million,an amount worth$30.72 million in 2006 dollars.In constant dollars,gross sales grew 44.5 percent between 1996 and 2006. Constant dollar taxable sales increased 37 percent over the same time period Current Dollars Constant 2006 Dollars Year Estimated Population Gross Sales* Taxable Sales Gross Sales* Taxable Sales Number Per Capita Pull ($millions) ($millions) ($millions) ($millions) of Firms Sales Factor 1990 12,728 $27.73 $19.97 $42.66 $30.72 112 $1,569 0.36 1991 12,756 $30.74 $23.28 $45.20 $34.24 130 $1,825 0.42 1992 12,801 $48.55 $24.69 $69.36 $35.28 131 $1,929 0.40 1993 12,746 $56.58 $20.50 $78.58 $28.47 133 $1,608 0.32 1994 12,665 $39.34 $22.78 $53.16 $30.78 120 $1,798 0.33 1995 12,816 $34.66 $22.78 $45.60 $29.98 128 $1,778 0.31 1996 12,901 $42.89 $24.09 $54.99 $30.88 140 $1,867 0.28 1997 12,993 NA NA NA NA NA $0 NA 1998 13,045 $51.92 $24.07 $64.10 $29.72 140 $1,845 0.26 1999 13,086 NA NA NA NA NA $0 NA III 2000 12,738 $55.32 $20.06 $64.32 $23.33 122 $1,575 0.21 2001 12,800 NA NA NA NA NA $0 NA 2002 12,711 NA NA NA NA NA $0 NA 2003 12,696 $63.64 $26.84 $69.94 $29.49 153 $2,114 0.24 2004 12,360 $67.31 $34.25 $71.61 $36.43 147 $2,771 0.30 2005 12,102 $78.48 $36.64 $80.91 $37.78 144 $3,028 0.32 2006 12,023 $79.44 $42.30 $79.44 $42.30 148 $3,518 0.37 10 yr C ange '96 to'06 -6.8% 85.2% 75.6% 44.5% 37.0% 5.7% 88.4% 31.4% 3 yr Change -'03 to'06 -5.3% 24.8% 57.6% 13.6% 43.4% -3,3% 66.4% 54.6% `Gross sales figures are self-reported by firms and not audited by the Dept.of Revenue for accuracy. Mounds View: Total Retail Sales Total Sales:Gross vs.Taxable Gross Sales:Current;vs.Constant; $90.0 $Millions $90.0 $Mllllons $80.0 $70.0- - $80.0- f' Ir $70.0 n�.�� es -..... "� $60.0 r .. $60.0 $50.0 ■ 11'$50.0- - - , M.. $40.0 •Pe .-: :r i•$40.0 ''p irt $30.0 $30.0 - -- _ $20.0 -=•=7-1-- $20.0 . " - $20.0 $10.0---. _...... _ $10.0 - 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 11111 Year Year --Taxable Sales -a-Gross Sales Constant$ -a-Current$ Page 5 r Mounds View 4110 Components of Change, 2003 to 2006 Taxable Sales Taxable Sales Dollar Percent Category 2003 2006 Change Change Vehicles& Parts NA NA NA NA Furniture Stores NA NA NA NA Electronics NA NA NA NA Building Materials NA NA NA NA Food, Groceries $3,013,353 $3,000,487 -$12,866 -0.43% Health, Personal Stores NA NA NA NA Gasoline Stations $3,878,208 $2,030,110 -$1,848,098 -47.65% Apparel NA NA NA NA Leisure Goods $1,023,418 $480,654 -$542,764 -53.03% General Merchandise Stores NA NA NA NA Miscellaneous Retail $5,133,031 $13,906,853 +$8,773,822 +170.93% Accomodations NA NA NA NA Eating &Drinking $8,003,283 $15,415,532 +$7,412,249 +92.62% 32• Total Retail and Services Sales $26,838,694 $42,297,926 +$15,459,2 +57.60% Figures not adjusted for inflation. Dollar Changes by Category (in Millions) 2003 to 2006 +$8.77 . . +$7.41 . . . • ', • •' .... ... , ,..„ . . •.... ... . .. . .' '..% . . . . . . . . . .. ..•. . . . . , . . . . . . , . . . .%. •.... . . . . . . . . . ...... . . .. •. .. . .. . : :• ..... . .., . . . . . . ,... . . NA NA NA NA NA NA NA ..... . • NA . .• :.:.: ....• .... . .,. . . 1 , I II , -$0 01 imI --$O.54 -$1.85 Parts Furn, Elec. Bldg.Mat Food Health Gas St. Cloth Leis. GenMer. Misc. Hotel Eat • Page 6 ..* I Historical r Category III Mounds I The following tables and charts depict pull factors in Mounds View from 1990 to 2000* by merchandise category. Pull factors are a measure of trade area size that provide a useful measure of changes over time because they account for changes in population and state-wide industry trends. Category Descriptions Building Materia s Includes retail Pull Factors by Merchandise Category(1 of 3) establishments primarily engaged 0.70 in selling lumber and other building materials;paint,glass,and 0.60 — - wallpaper;hardware;nursery stock; and lawn and garden supplies. 0.50 0 General Merchandise:Includes retail 0.40 stores which sell a number of 0.30 lines of merchandise,such as dry a goods,apparel and accessories, 0.20 furniture and home furnishings,small - - . - wares,hardware,and food.The stores - - -X included in this group are known as 0.10 X - - - department stores, variety stores,general merchandise 0.00 stores,catalog showrooms, 90 91 92 93 94 95 96 97 98 99 00 warehouse dubs,and general stores. Year -a—Building Materials ~General Merchandise gio Food: This group is comprised of -44—Food —a—Apparel retail stores primarily engaged in selling food for home preparation and consumption. Pull Factors by Merchandise Category Mounds View, 1990-2000 Apparel; Retail stores primarily engaged in selling clothing of all kinds Building General and related articles for personal wear and adornment.Not included are Year Materials Merchandise Food Apparel establishments which meet the criteria 1990 NA NA 0.63 NA for Department Stores even though 1991 NA NA 0.54 NA most of their receipts are from the sale 1992 NA NA 0.39 NA of apparel and apparel accessories. 1993 NA NA 0.38 NA 1994 NA NA 0.19 NA 1995 NA NA 0.19 NA 1996 NA NA NA NA 1997 NA NA NA NA 1998 NA NA 0.09 NA 1999 NA NA NA NA 2000 NA NA 0.10 NA %Change,'90 to'00 NA NA -83.71% NA %Change,'98 *Due to a change in how firms are to'00 NA NA 10.91% NA 410 categorized beginning with fiscal Year categorized beginly nning through fi fiscal These pull factors are calculated using taxable sales.Although taxable sales do not capture the full extent of sales in stores with a large number of un-taxed goods,like grocery and apparel stores,these data are audita year 2000 are presented in this by the Minnesota Department of Revenue.Since sales tax laws apply statewide,all cities are compared on section. the same basis. Page 7 Historical r Category IIIMounds VIew The following tables and charts depict pull factors in Mounds View from 1990 to 2000*by merchandise category. Pull factors are a measure of trade area size that provide a useful measure of changes over time because they account for changes in population and state-wide industry trends. Category Descriptions Pull Factors by Merchandise Category(2 of 3) Furniture:This group includes retail 1.20 stores selling goods used for furnishing the home such as furniture,floor coverings,draperies,glass and 1.00 chinaware,domestic stoves, '"'x - - - - - refrigerators,and other household 0.80 - . . electric and gas appliances. ° -, u u 0.60 =�. k Automotive: Establishments selling ti 0.40 '��_ new and used automobiles,boats, ' ,' recreational vehicles and utility trailers, and motorcycles and 0.20 `''° mopeds;dealers selling new automobile parts and accessories;and gasoline 0.00 service stations. 90 91 92 93 94 95 96 97 98 99 00 Eating&Drinking: This major groupfra Year includes retail establishments engaged in selling prepared food and drinks for -- -Furniture __, Automotive consumption on the premises. Also -44-Eating&Drinking -11-Misc. Retail included are caterers which serve prepared food other than at the plate of business and lunch counters and refreshment stands selling;preparetl Pull Factors by Merchandise Category foods and drinks for immediate Mounds View, 1990-2000 consumption. Eating& Year Furniture Automotive Drinking Misc. Retail Miscellaneous Retail: This category 1990 0.70 NA 0.97 0.58 includes retail establishments not 1991 0.73 NA 1.09 0.67 elsewhere classified.These establishments fall into the following 1992 0.44 0.91 0.99 0.55 categories:liquor stores;used 1993 NA 0.38 1.02 0.46 merchandise stores;miscellaneous 1994 0.46 0.56 1.00 0.40 shopping goods stores;nonstore 1995 0.43 0.53 0.94 0.39 retailers,fuel dealers,florists,cigar stores and stands,news dealers and 1996 0.47 0.55 0.90 0.45 newsstands,and Miscellaneous retail 1997 NA NA NA NA stores not elsewhere classified. 1998 0.37 0.21 0.94 0.34 1999 NA NA NA NA 2000 NA 0.36 0.55 0.48 %Change,'90 to'00 NA NA -42.90% -16.25% %Change,'98 to'00 NA 67.05% -40.93% 43.31% *Due to a change in how firms are 4111) earcategorized2003 beginning with fiscal year ,only data through fiscal These pull factors are calculated using taxable sales.Although taxable sales do not capture the full extent of sales in stores with a large number of un-taxed goods,like grocery and apparel stores,these data are audited year 2000 are presented in this by the Minnesota Department of Revenue.Since sales tax laws apply statewide,all cities are compared on the section. same basis. Page 8 Historical T Trends r i . Category 1110 Mounds View The following tables and charts depict pull factors in Mounds View from 1990 to 2000*by merchandise category. Pull factors are a measure of trade area size that provide a useful measure of changes over time because they account for changes in population and state-wide industry trends. Category Descriptions Pull Factors by Merchandise Category (3 of 3) Lodging: Includes establishments 0.70 engaged in providing lodging,or lodging and meals,and camping facilities. 0.60 , Personal Services: includes 0.50 1; L establishments primarily engaged in o 6 0.40 --- -- -- providingservices,generally to individuals to such as barber and beauty shops, u- drycleaning plants,laundries,and a. 0.30 photographic studios. 0.20 - 0.10 - +,r- - P ':. Business Services: Includes - ' - - - .' • - establishments primarily engaged in 0.00 -- providing services,not elsewhere classified,to business establishments on 90 91 92 93 94 95 96 97 98 99 00 a contract or fee basis. Year 411/ -a-Lodging - Personal Services - Business Services Automobile Services Automobile Services: Includes -+-Amusement&Recreation establishments primarily engaged in furnishing automotive repair,rental, Pull Factors by Merchandise Category leasing,parking,and other services. Mounds View, 1990-2000 Personal Business Automobile Amusement& Year Lodging Services Services Services Recreation Amusement and Recreation: This 1990 NA 0.20 0.14 0.08 NA group includes establishments primarily 1991 NA 0.22 0.21 0.13 0.46 engaged in providing amusement, recreation,or entertainment services,not 1992 NA 0.17 0.06 0.18 NA elsewhere classified. 1993 NA 0.19 0.10 0.12 NA 1994 NA 0.22 0.15 0.07 NA 1995 NA 0.18 0.14 0.06 NA 1996 NA 0.53 0.15 0.06 0.14 1997 NA NA NA NA NA 1998 NA 0.56 0.11 0.03 0.18 1999 NA NA NA NA NA 2000 NA 0.63 0.05 0.15 0.07 Change,'90 to'00 NA 214.57% -62.18% 87.17% NA Change,'98 to'00 NA 13.31% -49.09% 348.11% -63.20% *Due to a change in how firms are ill categorized beginning with fiscal year 2003,only data through fiscal These pull factors are calculated using taxable sales.Although taxable sales do not capture the full extent of sales in stores with a large number of un-taxed goods,like grocery and apparel stores,these data are audited by the year 2000 are presented in this Minnesota Department of Revenue.Since sales tax laws apply statewide,all cities are compared on the same basis. section. Page 9 Recent Trends By Merchandise Category III Mounds View The following tables and charts depict pull factors in Mounds View from 2003 to 2006*by merchandise category. Pull factors are a measure of trade area size that provide a useful measure of changes over time because they account for changes in population and state-wide industry trends. Pull Factor by NAICS Merchandise Category (1 of 2) 2.00 1.50 .2 CJ — �i 1.00k ; 0 0.50 — s.: �e:� li 0.00 Vehicles Elec- Building Health& Gas Leisure &Parts Furniture tropics Materials Food Personal Stations Apparel Goods • ■2003 0.44 0.00 1.42 0.32 ■2004 0.40 1.36 0.19 9 2005 0.43 1.87 1.25 0.15 0 2006 0.46 1.09 0.15 NAICS Category Descriptions Motor Vehicles&Parts: Establishments that sell new&used autos, boats, motorcycles,golf,carts,RV's, campers,trailers,tires,and parts, Furniture: Stores that sell furniture, beds,carpeting,window coverings, lamps,china, kitchenware,& woodburning stoves. Electronics: Establishments primarily engaged in retailing household-type appliances,sewing machines, cameras,computers, and other electronic goods. Building Materials: Establishments that sell lumter, hardware, paint,wallpaper,tile, hardwood floors, roofing, fencing,ceiling fans,lawn equipment,garden centers,and feed stores. Food: Grocery stores,deli's, bakery,&butcher shops that sell food tobe prepared at home. Liquor stores. Health&Personal:Pharmacies,food supplements,vision supplies,cosmetics,&hearing aid stores,. Gas Stations: Retailers that sell fuel along with convenience store items. Apparel:New clothing and accessories,Jewelry,shoes,bridal shops, clock shops,and luggage stores=, Leisure Goods: Sporting goods, books, music, hobby stores,fabric shops, and toy stores. *Caution should be used when comparing pull factors before 2003 to those in later years due to the switch from SIC to NAICS. ill Page 10 Recent Trends Merchandise. • Mounds View The following tables and charts depict pull factors in Mounds View from 2003 to 2006*by merchandise category. Pull factors are a measure of trade area size that provide a useful measure of changes over time because they account for changes in population and state-wide industry trends. Pull Factor by NAICS Merchandise Category (2 of 2) 3.50 3.00 H 2.50 F-5' 2.00 ev u_ 1.50 - a 1.00 — 0.50 — 0.00 Gen. Misc.Store Non-Store Amuse- Lodging Eating& Repair Personal • ■2003 Merch. Retail ment Drinking Services 0.99 0.02 0.58 0.55 0.25 ■2004 2.43 0.03 0.52 0.61 0.24 El 2005 2.09 0.05 0.61 0.67 0.40 0 2006 2.88 0.05 1.04 0.68 0.35 NAICS Category Descriptions General Merchandise: Establishments that sell a mixed line of goods. Examples are department stores, supercenters, and dollar stores. Miscellaneous Store Retailers: Stores not covered in other categories such as florists,office supplies,pets, antiques,tobacco,art, used merchandise,and trophies. Non-Store Retail: Retailers that do not use stores. This includes mail order, Internet selling,bazaars,vending machines,fuel oii dealers,firewood dealers,door-to-door tales,and produce stands. Amusement:Establishments such as golf courses, bowling lanes, marinas,amusement parks,water parks, shooting ranges,pool halls, horseback riding,ballrooms, health club facilities, ski hills,and casinos. Lodging: Seasonal resorts, hotels,boarding houses, bed&breakfast,campgrounds, RV parks. Eating 8,Drinking: Restaurants, donut shops, coffee house, cafeteria,caterers, taverns,and nightclubs, Repair: Businesses that return equipment to working order. Examples:cars, lawnmowers, small engines, knives, shoes, computers,furniture,and appliances. Personal Services: Barbers, beauty salons,tanning facilities,funeral homes,laundromats, dry cleaners, pet groomers, kennels,and photo finishing. • *Caution should be used when comparing pull factors before 2003 to those in later years due to the switch from SIC to NAICS. Page 11 Comparison with Competing • Mounds View Gross Retail & Service Sales Pull Factors (in millions) $450.0 2.50 $400.0 2.00 $350.0 $300.0 X •X 1.50 —._.__. *• '. $250.0 $200.0 '..._ 1.00 – $150.0 ' X $100.0 -45; 0.50 — X • $50.0 -- . _ cl-71--F1 - - .Q- -o- - -- . r $0.0 +I 1 I I I I I I I I I I I 0.00 I I I 1 1 1 1 1 1 I 1 1 1 1 I 90 93 96 99 02 05 90 93 96 99 02 05 IllFiscal Year Fiscal Year -0- Mounds View __A_— Arden Hills - New Brighton _♦-- Spring Lake Park Information about competing trade centers can provide a useful means of comparison when assessing a community's retail trade sector. Comparison towns were selected based on geographic proximity, relative size and availability of data. Some caution is warranted in the interpretation of these comparisons however, since retail sales data is provided for only a limited number of towns and cities. Comparison with Competing Trade Centers, 2006 Pull Taxable Per Capita Factor Gross Sales Sales Number of Taxable (Taxable Town Population ($millions) ($millions) Firms Sales Sales) Mounds View 12,023 $79.44 $42.30 148 $3,518 0.37 Arden Hills 9,815 $132.11 $59.33 156 $6,045 0.63 New Brighton 20,875 $362.79 $60.53 363 $2,900 0.30 Spring Lake Park 6,633 $165.33 $111.81 143 $16,857 1.76 • Page 12 Comparison with Competing Centers 111 Mounds View Gross Retail & Service Sales Pull Factors (in millions) $1,600.0 1.20 $1,400.0 —........._.__.. ..............__ _... 1.00 -- $1,200.0 — , 0.80 $1,000.0 —.. ......... • . $800.0 — 0.604. • X441/. \ • • ,X $600.0 — 0.40 — $400.0 _ . ._....._ _ ._ .._.._... ......__.. ._ ._. ._...._.._... an, a - il -_• 0.20 — --a'. � - • $200.0 — _ - •'� • • � $0.0 ♦ -41.. T- I I I 1 I 1 1 0.00 I 1 I I I 1 1 I I I 1 I II I 90 93 96 99 02 05 90 93 96 99 02 05 III Fiscal Year Fiscal Year -� Mounds View _A___ Arden Hills * Blaine _.4--- New Brighton Information about competing trade centers can provide a useful means of comparison when assessing a community's retail trade sector. Comparison towns were selected based on geographic proximity, relative size and availability of data. Some caution is warranted in the interpretation of these comparisons however, since retail sales data is provided for only a limited number of towns and cities. Comparison with Competing Trade Centers, 2006 Pull Taxable Per Capita Factor Gross Sales Sales Number of Taxable (Taxable Town Population ($millions) ($millions) Firms Sales Sales) Mounds View 12,023 ' $79.44 $42.30' 148 $3,516 0,37' Arden Hills 9,815 $132.11 $59.33 156 $6,045 0.63 Blaine 55,144 $1,338.01 $555.95 1,025 $10,082 1.05 New Brighton 20,875 $362.79 $60.53 363 $2,900 0.30 • Page 12b � Trade Area Analysis of Retail Sales Mounds View The following tables provide information on retail sales by merchandise category. "Expected sales"is a standard to which actual performance is compared. In calculating expected sales, population, income, and typical "pulling power" characteristics are taken into account. Expected sales can be used as a guideline or"par value"in analyzing retail strength. Deviations from these norms can be analyzed to first judge whether they should be considered relevant. If the differences appear to be significant(whether in dollar amounts or relatively with percentages),additional consideration is merited. Categories with undesirable performance may be further examined for potential corrective action. It is also important to determine whether or not the situation is relatively uncontrollable due to external or extenuating circumstances. In cases of favorable differences from expectations, the positive aspects should be identified and built upon. Trade Area Analysis by Merchandise Category, 2006 Variance Between Actual&Expected Expected Actual Trade Area Percent of Sales Sales In Dollars As % of Pop. Gain or Number Total Merchandise Group ($millions) ($millions) (millions) Expected Loss of Firms Sales Vehicles&Parts $7.49 NA NA NA NA NA NA Furniture Stores $5.19 NA NA NA NA NA NA ����Electronics $8.81 NA NA NA NA NA NA Building Materials $14.45 NA NA NA NA NA NA Food, Groceries $7.60 $3.00 '$4.60 -60.5% -7,275 6 7.1% Heo|th, Personal Stores o1.88 NA NA NA NA NA NA Gasoline Stations $2.81 $2.03 -$0.78 '27.9Y6 -3.350 4 4.8% Apparel s1.59 NA NA NA NA NA NA Leisure Goods $1.33 $0.48 '$0.85 -63.9% -7,678 9 1.1% General Merchandise Stores $37.58 NA NA NA NA NA NA Miscellaneous Retail $15.66 $13.91 -$1.75 -11.2% -1,345 35 32.996 Amusement& Recreation s2.06 NA NA NA NA NA NA Accomodations $4.08 NA NA NA NA NA NA Eating & Drinking Places $14.35 $15.42 +$1.06 +7.4% 891 16 36.496 Repair, Maintenance $2.47 $1.86 -$0.81 '32.696 '3.019 12 3.9% Personal Services, Laundry $0.61 $0.67 +$8.06 +9.296 1,103 6 1.6% Total Taxable Retail &Service $100.24 $4230 '$57.84 -57.8Y6 -6.850 148 100.096 *All retail and service categories are included in Total Sales,including some categories not shown, Therefore,the merchandise groups shown here generally will not sum to Total Sales. Page 13 III Summary ViewRetailr The chart below depicts the percentage amount Mounds View's acutal sales were above or below expected sales in 2005 by merchandise group. Of the 7 merchandise categories with reported data, sales in 2 of the categories were above what would be expected based on the performance in similar-sized Minnesota towns. The strongest merchandise group by this standard is the Personal Services, Laundry category,which has a 9.2 percent surplus. Overall, Mounds View had a retail sales leakage of 57.8 percent in 2006. It is important to note that variations in a town's relative retail performance may occur for a variety of reasons, some of which are beyond the control of local policy. Proximity to larger population centers, management, marketing, and transportation patterns are just a few factors that can cause the retail sales of a particular city to deviate substantially from expected sales. It is important that decision-makers consider these influences when constructing policies, plans, or projects. Percentage Above or Below Expected Sales, 2006 Vehicles& Parts NA Furniture Stores NA al Electronics NA Building Materials NA Food, Groceries 60.5%- Health, Personal Stores NA Gasoline Stations 27.9%- Apparel NA Leisure Goods 63.9%- General Merchandise Stores NA Miscellaneous Retail 11.2%- Amusement& Recreation NA Accomodations NA Eating & Drinking Places 7.4%+ Repair, Maintenance 32.6°!°- Personal Services, Laundry :: 9.2%+ Total Taxable Retail&Service 57.81‘- io I I -70% -60% -50% -40% -30% -20% -10% 0% 10% 20% Page 14 a) ` r 1` a N 00 al CO 0) N O CO 0 M M N N O N f0 Jo 3 0 V• c0 co 7 0 co c0 M h N M r V N N M 7 V' O O K a V 0 0 7 7 7 0 0 0 7 O 7 7 0 0 0 o co co co 7 co O e2 co co 69 us $ N y CO N O V' O CO O In CO co 10 O c0 V' N CO v N N V: O a V' c0 N c0 M .- N a M O 7 ti O N CO 7 N y a) (0 V O O O 7 coO0cocococo co co M N N C 0 a. 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Q NNr { OCO O> C) v r ) O :0 E # # # # # # # # # # # # # # # # # # # # 5 g E C to E or ro to $ N v c m S _ c _c ? o. o m Cm J4 Ti a u_ v E y .__ _ u) co g v C om q4+ d r m C co J c c U .M O C N '- 9) C W L m Uj C O . Q E j ?y E 'C la OS 7 O C . c E r rn ca o m coN m co ° o X 34 Q N 3 3 N co 0 4f {0 as CX ti Hxinxmu mz � m (n } 2zwC};, ;s (ov2 ¢ • County o ri on, 2006 for the whole It is important to review the retail performancecountyand not just 1ust the town, in isolation. For example, it is common for county seat towns to have above-average retail performance, while the county overall has a leakage of sales. This is usually because the county seat town doesn't have the critical mass of retail to attract the purchases of everyone in the county. By analyzing county data, town business people can develop strategies to recapture some of the sales being lost to other towns. For counties that have a local option sales tax, the analysis of county sales is extremely important, since lost sales are lost tax dollars. A thorough analysis of county sales can help county officials develop more meaningful economic development plans aimed at recapturing the lost sales. Share of County Sales The table below shows retail sales and 1% number of firms by merchandise category /-1 for Mounds View and Ramsey County in 2006. Mounds View accounted for 2 percent of the county's firms and 1 percent of the county's sales at the time. ■Mounds View 9900 0 Rest of Ramsey County Sales by Merchandise Category, Mounds View & Ramsey County, 2006 Mounds View Ramsey County City's Share of County Total Ill Taxable Taxable Sales Number of Sales Number of Merchandise Category ($millions) Firms ($millions) Firms Sales Firms Vehicles& Parts NA NA $191.02 155 NA NA Furniture Stores NA NA $136.83 193 NA NA Electronics NA NA $275.19 144 NA NA Building Materials NA NA $367.80 118 NA NA Food, Groceries $3.00 6 $276.19 384 1.1% 1.6% Health, Personal Stores NA NA $65.58 139 NA :;NA Gasoline Stations $2.03 4 $62.84 158 3.2% 2.5% Apparel NA NA $109.83 344 NA NA Leisure Goods $0.48 9 $148.92 353 0.3% 2.5% General Merchandise NA NA $465.64 79 NA NA Miscellaneous Retail $13.91 35 $201.89 1227 6.9% 2.9% Non-Store Retailers $0.13 12 $49.36 333 0.3% " 3.6% Amusement& Recreation NA NA $496.60 131 NA NA Accomodations NA NA $113.49 51 NA NA Eating & Drinking Places $15.42 16 $745.42 1079 2.1% 1.5% Repair, Maintenance $1.66 12 $101.63 523 1.6% 2.3% il Personal Service, Laundry $0.67 6 $94.03 576 0.7% 1.0%'. Total Sales* $42.30 144 $4,869.79 9,585 0.9% 1.5% Page 17 Ramsey un Retail Trade Overview 111 Total Taxable and Gross Retail Sales The table below presents gross and taxable retail and services sales for Ramsey County from 1990 through 2006. Taxable sales in Ramsey County increased 45.4 percent from 1996 to 2006,while the number of firms fell 0.2 percent. Statewide, taxable sales increased 59.4 percent over the same time period and the number of firms rose 7.9 percent. The per capita sales and pull factor data in this table are based on taxable sales,the more verified sales measure. The table also presents sales data in constant 2006 dollars. These figures have been adjusted for inflation to reflect their value in 2006. For example,in 1990,taxable sales in Ramsey County totaled$2775.02 million,an amount worth$4269.26 million in 2006 dollars.In constant dollars,gross sales grew 36.6 percent between 1996 and 2006. Constant dollar taxable sales increased 13.4 percent over the same time perky Current Dollars Constant 2006 Dollars Estimated Gross Taxable Year population Gross Sales* Taxable Sales Sales* Sales Number Per Capita Pull ($millions) ($millions) ($millions) ($millions) of Firms Sales Factor 1990 485,760 $6,359.02 $2,775.02 $9,783.10 $4,269.26 9,393 $5,713 1.30 1991 485,186 $5,886.96 $2,580.60 $8,657.29 $3,795.00 9,455 $5,319 1.21 1992 485,965 $5,933.15 $2,653.58 $8,475.93 $3,790.83 9,325 $5,460 1.13 1993 484,352 $5,936.44 $2,541.19 $8,245.05 $3,529.43 9,389 $5,247 1.04 1994 483,274 $6,210.03 $2,494.25 $8,391.93 $3,370.60 8,957 $5,161 0.94 1995 483,086 $6,586.39 $2,607.73 $8,666.30 $3,431.22 8,873 $5,398 0.95 1996 483,102 $7,823.44 $3,349.19 $10,030.05 $4,293.84 9,447 $6,933 1.04 1997 484,761 NA NA NA NA NA NA NA 1998 485,709 $8,979.28 $3,742.05 $11,085.53 $4,619.82 9,297 $7,704 1.11 1999 486,254 NA NA NA NA NA NA NA 2000 511,035 $9,965.28 $4,049.72 $11,587.54 $4,708.98 8,815 $7,925 1.04 • 2001 512,978 510,568 NA NA NA NA NA NA NA NA 2002 NA NA NA NA NA NA 2003 506,355 $11,300.81 $4,269.70 $12,418.47 $4,691.98 9,421 $8,432 0.94 2004 499,498 $13,607.43 $4,677.27 $14,475.99 $4,975.82 9,494 $9,364 1.01 2005 494,920 $14,329.97 $4,852.55 = $14,773.16 $5,002.63 9,585 $9,805 1.03 2006 493,215 $13,705.95 $4,869.79 $13,705.95 $4,869.79 9,429 $9,874 1.03 10 yr Change '96 to'06 2.1% 75.2% 45.4% 36.6% 13.4% -0.2% 42.4% -0.7% 3 yr Change '03 to'06 -2.6% 21.3% 14.1% 10.4% 3.8% 0.1% 17.1% 8.8% *Gross sales figures are self-reported by firms and not audited by the Dept.of Revenue for accuracy. Ramsey County: Total Retail Sales $Millions Total Sales Gross Sales Melons $16,000.0 $16,000.0-- ----- $14,000.0 - -- -- $14,000.0- - $12,000.0 $12,000.0 ,,$10,000.0 $10,000.0- .:•.--.- 11,... , $8,000.0 $8,000.0 , $6,000.0 $6,000.0 $4,000.0 $4,000.0 $2,000.0 $2,000.0 $0.0 $0.0 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 4110 Year Year -4-Taxable Sales -f-Gross Sales = Constant$ -U-Current$ Page 18 Ramsey County 411 Components of Change, 2003 to 2006 Taxable Sales Taxable Sales Dollar Percent Category 2003 2005 Change Change Vehicles & Parts $152,006,619 $191,019,506 +$39,012,887 +25.67% Furniture Stores $183,287,520 $136,833,301 -$46,454,219 -25.34% Electronics $257,537,251 $275,192,012 +$17,654,761 +6.86% Building Materials $318,710,033 $367,798,534 +$49,088,501 +15.40% Food, Groceries $268,453,786 $276,185,685 +$7,731,899 +2.88% Health, Personal Stores $68,273,135 $65,580,121 -$2,693,014 -3.94% Gasoline Stations $95,697,992 $62,837,238 -$32,860,754 -34.34% Apparel $98,150,868 $109,827,753 +$11,676,885 +11.90% Leisure Goods $149,522,206 $148,917,465 -$604,741 -0.40% General Merchandise Stores $465,267,177 $465,643,854 +$376,677 +0.08% Miscellaneous Retail $269,495,884 $201,894,832 -$67,601,052 -25.08% Accomodations $82,399,371 $113,491,002 +$31,091,631 +37.73% Eating & Drinking Places $674,106,184 $745,415,406 +$71,309,222 +10.58% otal Retail and Services Sales $4,269,702,746 $4,869,788,832 +$600,086,086 +14.05% Figures not adjusted for inflation. Dollar Changes by Category (in Millions) 2003 - 2006 +$71.31 +$49.09 +$39.01 +$31.09 • +$17.65 : +$11.68 +$7.73 $0 38 + -$2.69 -$0.60 -$32.86 $46.45 -$67.60 Parts Furn. Elect. Bldg. Food Health GasSt. Clothes Leis. GenMer. Misc. Hotel Eat ill Page 19 Pull Factors By MerchandiseCategory 4110 Ramsey County The following tables and charts depict pull factors in Ramsey County from 1990 to 2000*by merchandise category. Pull factors are a measure of trade area size that provide a useful measure of changes over time because they account for changes in population and state-wide industry trends. Category Descriptions Pull Factors by Merchandise Category(1 of 3) Building Materials: Includes retail 1.60 establishments primarily engaged in selling lumber and other building 1.40 - material%paint,glass,and wallpaper;hardware;nursery stock and , 1.20 • lawn and garden supplies. • 1.00 - . - - - - - - - - x - General Merchandise: includes retail 0.80 - - - - - M - - - - - • stores which sell a number of = - lines of merchandise,such as dry goods,' a. 0.60 -0 apparel and accessories, furniture and home furnishings,small " 0.40 wares,hardware,and food,The stores included in this group are known as 0.20 department stores, variety stores,general merchandise 0.00 ' ' ' r < stores,catalog showrooms, 90 91 92 93 94 95 96 97 98 99 00 warehouse clubs,and general stores. Year • -M-Building Materials ',a °General Merchandise Food: This group is comprised of retail -4€-Food -•-Apparel stores primarily engaged in'. selling food for home preparation and consumption. Pull Factors by Merchandise Category Ramsey County, 1990-2000 Apparel: Retail stores primarily engaged in selling,clothing of all kinds and related articles for personal wear and adornment. Building General Not included ere establishments which Year Materials Merchandise Food Apparel meet the criteria for Department Stores 1990 0.89 1.30 1.08 1.32 even though most of their receipts are 1991 0.96 1.36 1.07 1.13 from the sale of apparel and apparel accessories. 1992 0.85 1.18 1.06 1.21 1993 0.86 1.04 1.05 0.91 1994 0.71 1.01 0.82 0.87 1995 0.68 0.95 0.81 0.86 1996 0.81 1.06 0.88 1.07 1997 NA NA NA NA 1998 0.85 1.04 0.95 1.13 1999 NA NA NA NA 2000 0.62 1.01 0.90 1.11 %Change,'90 to'00 -30.59% -22.57% -16.63% -15.95% Change,'98 Due to achange inhfiv+fiirms are to'00 -27.17% -2.78% -4.95% -1.27% 41111 categorized beginning with fiscal These pull factors are calculated using taxable sales.Although taxable sales do not capture the full extent of year 2003,only,data through fiscal sales in stores with a large number of un-taxed goods,like grocery and apparel stores,these data are audited year 2000 are presented in this by the Minnesota Department of Revenue.Since sales tax laws apply statewide,all cities are compared on the section. same basis. Page 20 Pull Factors r i Category • Ramsey County The following tables and charts depict pull factors in Ramsey County from 1990 to 2000*by merchandise category. Pull factors are a measure of trade area size that provide a useful measure of changes over time because they account for changes in population and state-wide industry trends. Category Descriptions Pull Factors by Merchandise Category (2 of 3) 2.50 Furniture:This group includes retail stores selling goods used for furnishing the home such as furniture,floor 2.00 coverings,draperies,glass and chinaware,domestic stoves,refrigerator s and other household electric and gas $ 1.50 - .. _ appliances. o - II III u- X 3 1.00 - am,. Automotive: Establishments selling new and used automobiles,boats, 0.50 -- - recreational vehicles and utility trailers, and motorcycles and mopeds;dealers selling new automobile 0.00 , ' parts and accessories;and gasoline service stations. 90 91 92 93 94 95 96 97 98 99 00 4110 Eating&Drinking: this major group includes retail establishments engaged in -U-Furniture Year Automotive selling prepared food and drinks for -44-Eating&Drinking --• Misc. Retail consumption on the premises. Also included are caterers which serve prepared food other than at the place of business and lunch counters and Pull Factors by Merchandise Category refreshment stands selling prepared Ramsey County, 1990-2000 foods and drinks for immediate consumption. Eating& Year Furniture Automotive Drinking Misc. Retail 1990 1.41 0.97 1.30 1.96 Miscellaneous Retail: This category 1991 1.48 0.90 1.36 1.44 includes retail establishments not 1992 1.33 0.99 1.35 1.35 elsewhere classified,These establishments fall into the following 1993 1.26 0.93 1.26 1.23 categories:liquor stores;used 1994 1.12 0.91 1.14 1.06 merchandise stores;miscellaneous 1995 1.34 0.80 1.17 1.08 shopping goods stores;nonstore retailers,fuel dealers,florists,cigar store# 1996 1.50 0.97 1.24 1.15 and stands,news dealers and 1997 NA NA NA NA newsstands,and miscellaneous retail 1998 1.39 0.80 1.27 1.13 stores not elsewhere classified. 1999 NA NA NA NA 2000 1.35 0.77 1.24 1.08 %Change,'90 to'00 -4.73% -20.87% -5.03% -44.73% Change,'98 *Due to a change tri how firms are to'00 -3.34% -3.64% -2.30% -4.38% 0 categorized onlydata through fiscal beginning with fiscal yearar 200These pull factors are calculated using taxable sales.Although taxable sales do not capture the full extent of y , sales in stores with a large number of un-taxed goods,like grocery and apparel stores,these data are audited year 2000 are presented in this by the Minnesota Department of Revenue.Since sales tax laws apply statewide,all cities are compared on the section. same basis. Page 21 Pull Factors r i Category 1110Ramsey County The following tables and charts depict pull factors in Ramsey County from 1990 to 2000*by merchandise category. Pull factors are a measure of trade area size that provide a useful measure of changes over time because they account for changes in population and state-wide industry trends. Category Descriptions Pull Factors by Merchandise Category(3 of 3) Lodging: Includes establishments 4.00 engaged in providing lodging,or lodging and meals,and camping facilities, 3.50 - - - - - "6" - - 3.00 -- -Personal Services: includes establishments primarily engaged in ' 0 2.50 providing services generally to individuals co u_ 2.00 such as barber and beauty shops; _ . drycleaning plants,laundries,and photographic studios. a 1.50 - - - 1.00 : 0.50 - - Business Services: Includes establishments primarily engaged in 0.00 ' providing services,not elsewhere 90 91 92 93 94 95 96 97 98 99 00 classified,to business establishments on a contract or fee basis. Year -6-Lodging Personal Services • -)t-Business Services -e-Automobile Services Automobile Services: Includes -s-Amusement&Recreation establishments primarily engaged in furnishing automotive repair,rental, Pull Factors by Merchandise Category leasing,parking,and other services. Ramsey County, 1990-2000 Personal Business Automobile Amusement& Year Lodging Services Services Services Recreation Amusement and Recreation: This 1990 0.55 1.84 0.94 1.42 0.78 group includes establishments primarily 1991 0.56 1.89 0.94 1.43 0.77 engaged,in providing amusement, recreation,or entertainment services,not 1992 0.71 0.92 0.87 1.11 0.78 elsewhere classified. 1993 0.70 0.93 0.80 1.06 0.80 1994 0.71 0.87 0.82 1.11 0.74 1995 0.68 0.88 0.79 1.07 0.72 1996 0.76 0.95 0.78 1.26 3.75 1997 NA NA NA NA NA 1998 0.82 1.06 0.73 1.04 3.55 1999 NA NA NA NA NA 2000 0.69 1.18 0.70 1.06 3.36 Change,'90 to'00 26.02% -36.10% -25.50% -25.40% 331.00% %Change,'98 to'00 -16.25% 10.67% -4.02% 1.43% -5.16% *Due to a change in how firms are categorized beginning with fiscal • year 2003,only data through fiscal These pull factors are calculated using taxable sales.Although taxable sales do not capture the full extent of sales in year 2000 are presented in this stores with a large number of un-taxed goods,like grocery and apparel stores,these data are audited by the section. Minnesota Department of Revenue.Since sales tax laws apply statewide,all cities are compared on the same basis. Page 22 Pull Factors By MerchandiseCategory SY County y The following tables and charts depict pull factors in Mounds View from 2003 to 2006- *by merchandise category. Pull factors are a measure of trade area size that provide a useful measure of changes over time because they account for changes in population and state-wide industry trends. Pull Factor by NAICS Merchandise Category (1 of 2) 1.60 1.40 ' iiii - _- s`• ' Y Vehicles Furniture Elec- Building Food Health& Gas Apparel Leisure &Parts tropics Materials Personal Stations Goods ■2003 0.91 1.20 1.37 0.63 0.98 1.36 0.88 1.51 1.16 IN 2004 0.89 1.09 1.25 0.54 0.98 1.35 0.87 1.39 1.15 2005 0.90 0.93 1.43 0.64 1.03 1.42 0.86 1.33 1.11 0 2006 0.95 0.87 1.33 0.70 1.03 1.33 0.82 1.33 1.14 NAILS Category Descriptions Motor.Vehicles&Parts:Establishments that sell new&used autos, boats, motorcycles, golf carts, RV's, campers,trailers, tires, and parts. Furniture: Stores that sell furniture, beds,carpeting,window coverings, lamps,china,;kitchenware,& woodburning:stoves Electronics: Establishments primarily engaged in retailing household-type appliances,sewing machines, cameras,computers, and other electronic goods. Building Materials: Establishments that sell lumber, hardware, paint,wallpaper, tile, hardwood floors, roofing, fencing,ceiling fans,lawn equipment, garden centers,and feed stores. Food: Grocery stores,deli's,bakery,&butcher shops that sell food to be prepared at home.Liquor stores. Health&Personal: Pharmacies,food supplements, vision supplies,cosmetics, &hearing aid stores. Gas Stations: Retailers that sell fuel along with convenience store items. Apparel:New clothing and accessories,jewelry, shoes, bridal shops, clock shops,and luggage stores. Leisure Goods: Sporting goods, books, music, hobby stores,fabric shops, and toy stores. *Caution should be used when comparing pull factors before 2003 to those in later years due to the switch from• . SIC to NAICS. Page 23 Recent Trends By Merchandise t III Ramsey County The following tables and charts depict pull factors in Mounds View from 2003 to 2006* by merchandise category. Pull factors are a measure of trade area size that provide a useful measure of changes over time because they account for changes in population and state-wide industry trends. Pull Factor by NAICS Merchandise Category (2 of 2) 4.50 4.00 3.50 w 3.00 L 0 2.50 ca _ 2.00 o 1.50 1.00 :'' - 0.50 , ..' -1F- ---''11' .,, nw:,-,,,, 0.00 Gen. M. Store 1.31 Non-Store Amuse- Lodging Eating& Repair Personal • Merch. Retail ment Drinking Services ▪2003 0.87 0.48 0.69 0.64 1.23 1.07 1.09 ■2004 0.88 1.25 0.37 3.34 0.64 1.23 1.03 1.14 0 2005 0.88 1.07 0.34 0.68 0.61 1.20 1.06 1.19 0 2006 0.89 1.02 0.43 3.83 0.75 1.23 1.01 1.21 NAICS Category Descriptions General Merchandise: Establishments that sella mixed line of goods. Examples are department stores, supercenters, and dollar stores. Miscellaneous Store Retailers:Stores not covered in other categories such as'florists,office supplies, pets, antiques,tobacco, art, used merchandise,and trophies. Non-Store Retail: Retailers that do not use stores.This includes mail order, internet selling, bazaars,vending machines,fuel oil dealers,firewood dealers,door-to-door sales,and produce stands. Amusement:Establishments such as golf courses, bowling lanes, marinas,amusement parks,water parks, shooting ranges,pool halls, horseback riding, ballrooms, health club facilities, ski hills,and casinos. Lodging: Seasonal resorts,hotels, boarding houses, bed&breakfast,campgrounds, RV parks.. Eating'&Drinking: Restaurants,.donut shops,coffee house,cafeteria,caterers,taverns, and nightclubs, Repair: Businesses that return equipment to working order. Examples: cars,lawnmowers, small engines, knives, shoes,computers,furniture,and appliances. Personal Services: Barbers, beauty salons,tanning facilities,funeral homes, laundrorats, dry cleaners,pet groomers, kennels, and photo finishing. I. "*Caution should be used when comparing pull factors before 2003 to those in later years due to the switch from SIC to NAICS. Page 24 Comparison with Neighboring 41110 Ramsey County Gross Retail and Service Sales Pull Factors (in millions) 1.60 $45,000.0 1.40 vie1.20 — • ' __ $35,000.0 1.00 — •. .. ._ .. • , 5k-%.._ ,� $30,000.0 •, . •■ • $25,000.0 — tt _.0.80 —.. � .. .' $20,000.0 0.60 `"'.." % _. O. - $15,000.0 cpcko 0.40 — $10,000.0 . 0 '•5 - - l,")6.}C $5,000.0 X • 0.20 — $0.0 rr rr r i 7"i 0.00 1 1 1 1 1 m i 1 1 1 i l III 90 93 96 99 02 05 Fiscal Year 90 93 96 99 Fiscal Year 02 05 -0- Ramsey County _Ar- Anoka County -X--- Dakota County --$-- Hennepin County -- Scott County -iv Washington County Comparison with Neighboring Counties, 2006 Pull Taxable Per Capita Factor Gross Sales Sales Number of Taxable (Taxable Town Population ($millions) ($millions) Firms Sales Sales) Ramsey'County 493,215 ; $13,705. 95 $4,869.79 9429 $9,874 1.03: Anoka County 327,005 $5,280.45 $2,317.35 5609 $7,087 0.74 Dakota County 388,001 $9,702.24 $3,534.26 7055 $9,109 0.95 Hennepin County 1,122,093 $37,978.84 $13,235.49 26406 $11,795 1.23 Scott County 124,092 $1,249.90 $452.02 1442 $3,643 0.38 4111 Washington County 225,000 $3,763.58 $1,661.06 4142 $7,382 0.77 Page 25 Trade Area Analysis of Retail Sales Ramsey County The following tables provide information on retail sales by merchandise category. "Potential sales"is a standard to which actual performance is compared. In calculating potential sales, population and income characteristics are taken into account. Potential sales can be used as a guideline or"par value"in analyzing retail strength. Deviations from these norms can be analyzed to first judge whether they should be considered relevant. If the differences appear to be significant(whether in dollar amounts or relatively with percentages), additional consideration is merited. Categories with undesirable performance may be further examined for potential corrective action. It is also important to determine whether or not the situation is relatively uncontrollable due to external or extenuating circumstances. In cases of favorable differences from expectations, the positive aspects should be identified and built upon. Trade Area Analysis by Merchandise Category, 2006 Variance Between Actual&Potential Expected Actual Trade Area Percent of Sales Sales In Dollars As%of Pop. Gain or Number Total Merchandise Group ($millions) ($millions) (millions) Expected Loss of Firms Sales Vehicles&Parts $196.47 $191.02 -$5.45 -2.8% -13,679 155 3.9% 0 urniture Stores $173.70 $136.83 -$36.87 -21.2% -104,692 193 2.8% ectronics $209.72 $275.19 +$65.48 +31.2% 153,987 144 5.7% Building Materials $595.54 $367.80 -$227.74 -38.2% -188,611 118 7.6% Food, Groceries $294.62 $276.19 -$18.44 -6.3% -30,866 384 5.7% Health, Personal Stores $55.10 $65.58 +$10.48 +19.0% 93,841 139 1.3% Gasoline Stations $109.05 $62.84 -$46.22 -42.4% -209,023 158 1.3% Apparel $87.75 $109.83 +$22.08 +25.2% 124,087 344 2.3% Leisure Goods $140.17 $148.92 +$8.74 +6.2% 30,769 353 3.1% General Merchandise Stores $564.72 $465.64 -$99.08 -17.5% -86,531 79 9.6% Miscellaneous Retail $242.83 $201.89 -$40.94 -16.9% -83,149 1,227 4.1% Amusement&Recreation $105.63 $496.60 +$390.96 +370.1% 1,825,470 131 10.2% Accomodations $151.13 $113.49 -$37.64 -24.9% -122,835 51 2.3% Eating&Drinking Places $648.82 $745.42 +$96.60 +14.9% 73,429 1,079 15.3% Repair, Maintenance $107.41 $101.63 -$5.78 -5.4% -26,537 523 2.1% Personal Services, Laundry $76.67 $94.03 +$17.36 +22.6% 111,672 576 1.9% Total Taxable Retail &Service $5,145.50 $4,869.79 -$275.71 -5.4% -26,519 9,429 100.0% *All retail and service categories are included in Total Sales,including some categories not shown. Therefore,the merchandise groups shown here generally will not sum to Total Sales. III Page 26 Summary til Trade The chart below depicts the percentage amount Ramsey County's acutal sales were above or below potential sales in 2006 by merchandise group. Of the 16 merchandise categories with reported data, sales in 7 of the categories were above what would be expected based on the county's population and income characteristics as well as statewide spending patterns. The strongest merchandise group by this standard is the Amusement&Recreation category,which has a 370.1 percent surplus. Overall, Ramsey County had a retail sales leakage of 5.4 percent. It is important to note that variations in a county's relative retail performance may occur for a variety of reasons, some of which are beyond the control of local policy. Proximity to larger population centers, management, marketing, and transportation patterns are just a few factors that can cause the retail sales of a particular county to deviate substantially from potential sales. It is important that decision-makers consider these influences when constructing policies, plans, or projects. Percentage Above or Below Potential Sales, 2006 Vehicles& Parts 2.8%-I Furniture Stores 21.2%- • Electronics :` 31.2%+ Building Materials 38.2%- Food, Groceries 6.3%- Health, Personal Stores 19.0%+ Gasoline Stations 42.4%. Apparel 25.2%+ Leisure Goods ]6.2%+ General Merchandise Stores 17.5%- Miscellaneous Retail 16.9%- Amusement& Recreation370.1%+ Accomodations 24.9%- Eating & Drinking Places 14.9%+ Repair, Maintenance 5.4%-I Personal Services, Laundry 22.6%+ Total Taxable Retail&Service 5.4%-I I I I I I I I I I I -100% -50% 0% 50% 100% 150% 200% 250% 300% 350% 400% • Page 27 • Ramsey County Retail Trade Surplus or Leakage County Surplus or Leakage as a Percent of Potential 20% _ ...pm.- 15%- ' 10%- 5%-, - . ... Illril 0% -5%- II ' -15%- -20%-- 1990 1992 1994 1996 1998 2000 2002 2004 2006 Fiscal Year III Potential Actual Surplus or Surplus or Trade Area Fiscal Population Index of Sales Sales Leakage Leakage as Population Year Estimate Income (in millions) (in millions) (in millions) % of Potential Gain or Loss 1990 485,760 1.12 $2,381.1 $2,775.0 $394.0 +16.5% +80,369 1991 485,186 1.13 $2,404.8 $2,580.6 $175.7 +7.3% +35,458 1992 485,965 1.11 $2,605.4 $2,653.6 $48.1 +1.8% +8,980 1993 484,352 1.12 $2,729.4 $2,541.2 -$188.2 -6.9% -33,398 1994 483,274 1.11 $2,931.7 $2,494.2 -$437.4 -14.9% -72,111 1995 483,086 1.11 $3,072.1 $2,607.7 -$464.3 -15.1% -73,018 1996 483,102 1.11 $3,574.6 $3,349.2 -$225.4 -6.3% -30,463 1997 484,761 1.09 NA NA NA NA NA 1998 485,709 1.08 $3,651.3 $3,742.1 $90.8 +2.5% +12,077 1999 486,254 1.07 NA NA NA NA NA 2000 511,035 1.04 $4,044.1 $4,049.7 $5.6 +0.1% +707 2001 512,978 1.05 NA NA NA NA NA 2002 510,568 1.07 NA NA NA NA NA 2003 506,355 1.07 $4,843.1 $4,269.7 -$573.4 -11.8% -59,953 0 2004 499,498 1.09 $5,019.6 $4,677.3 -$342.4 -6.8% -34,069 2005 494,920 1.10 $5,163.3 $4,852.6 -$310.7 -6.0% -29,784 2006 493,215 1.10 $5,188.5 $4,869.8 -$318.8 -6.1% -30,300 Page 28 Demographic Characteristics III Income,2004 Total Personal Income is derived from the Bureau of Economic Analysis data. Median household income and income distribution data are obtained from the Median 2004 Census estimates. Median Total Personal Household Index of household income represents the Income $000 Income Income midpoint of income for all households in Ramsey County $19,640,677 $47,607 108.9 the town. The index of income measures Anoka County $10,820,020 $62,106 93.7 the county's per capita income relative to the state. For example, an index number Dakota County $15,250,252 $67,175 111.5 of 110 indicates the county's per capita Hennepin County, $53,755,309 $54,471 132.8 income is 10 percent above the state Scott County $3,937,175 $76,072 94.8 average(which was$36,162 in 2004). Washington County;, $9,057,241 $74,676 116.0 State $184,571,393 $51,202 100.0 Income Distribution by Household, 2000 IIIIIIIIIIII/II® Less than $20,000 to $40,0009, to $60,000 and $20,000= $39,999 $59,999 over Ramsey County 18.4% 25.2% 20.4% 35.9% Relative to the state, Ramsey Anoka County ill Dakota County 10.2% 18.8% 23.2% 47.8% County has more low-income 8.7% 18.4% 20.3% 52.5% households(earning less than $20,000 annually)and fewer Hennepin County 15.2% 22.6% 19.5% 42.7% higher-income households Scott County 8.2% 14.8% 19.3% 57.8% (earning more than$60,000 annually). Washington County 7.8% 16.2% 19.8% 56.2% State 17.6% 24.2% 21.3% 36.8% Population In 2000, Ramsey County had 201,379 households and an average of 2.54 persons per household. There were 1.9 million households statewide with an average of 2.59 persons per household. Compared to the state, Ramsey County had a lower proportion of young people (under 18) and a lower proportion of older people(age 65+). Age Distribution of Population,2000 Age 65+ Ramsey County State Age 50-64 munimie "° % Age 35-49 Total 511,035 4,919,479 Age 18-34 Under 18 130,629 25.6 1,286,894 26.2 Age 18-34 134,168 26.3 1,143,572 23.2 Under 18 Age 35-49' 118,366 23.2 1,188,429 24.2 Age 50-64 68,320 13.4 706,318 14.4 0 10 20 30 • Age 65+ 59,552 11.7 594,266 12.1 Percent •Ramsey County 0 State Page 29 State of Minnesota Per Capita Taxable Retail Sales & • Threshold Levels for Selected Goods and Services 2006 Threshold level refers to the number of people per business,which can be used as a general guide for determining the"critical mass" necessary to support a business. These are broad averages for the state as a whole and do not reflect differences in income,durism, agglomeration,establishment,etc. Further,the business counts are based on the number of sales tax returns filed and are corerted to"ful time equivalents." Mulliplyingpeople per business by sales per capita yields average sales per firm. In addition to stale averages, averages for the non-metropolitan regions were calculated by excluding the seven county Minneapolis-St.Paul metropolitan regio. Business Activity/Store Type People Per Business Sales Per Capita State Non-Metro State Non-Metro Mounds View RETAIL TRADE 441 Vehicles,Parts 1,692 1,336 $405.69 $371.79 NA 442 Furniture Stores 1,928 2,233 $320.24 $202.94 NA 443 Electronics 2,419 3,243 $420.00 $191.39 NA 444 Building Materials 1,943 1,514 $1,071.46 $980.91 NA 445 Food and Beverage Stores 1,343 1,197 $546.18 $469.23 $249.56 446 Health,Personal Stores 3,728 4,226 $99.93 $50.99 NA 447 Gasoline Stations 2,326 1,797 $154.51 $174.66 $168.85 448 Clothing&AccessoryStores 1,322 1,757 $166.99 $102.89 NA 451 Leisure Goods 1,122 1,105 $265.39 $166.51 $39.98 452 General Merchandise 4,295 3,514 $1,061.39 $1,019.25 NA 453 Miscellaneous Merchandise 283 275 $401.33 $291.19 $1,156.69 454 Non-store Retail 976 1,110 $235.37 $76.19 $10.63 Retail Total $5,148.47 $4,097.94 $1,625.71 INFORMATION 511 Publishing Industry 10,112 38,712 $26.09 $2.35 452 Movie&Recording Industry 15,197 70,593 $18.84 $8.48 515 Broadcasting 33,122 80,005 $147.90 $3.24 517 Telecommunications 6,100 11,010 $633.87 $450.26 518 Internet Service 6,022 34,785 $66.87 $1.32 1110 519 Other Information Services 2,775 3,941 $218.01 $58.05 FINANCE AND INSURANCE NA 522 Credit Intermediation 5,767 8,001 $51.15 $6.05 523 Securities,Commodities 26,096 218,195 $2.18 $0.08 524 Insurance Carriers 8,375 24,744 $2.33 $0.35 525 Funds,Trusts 135,976 NA $6.21 NA REAL ESTATE AND RENTAL AND LEASING 531 Real Estate 2,817 5,543 $26.71 $14.42 532 Rental,Leasing Services 2,428 3,609 $320.78 $83.23 533 Lessors Nonfinancial Assets 397,469 NA $1.40 NA PROFESSIONAL,SCIENTIFIC,AND TECHNICAL SERVICES 541 Prof,Scientific,Technical Services 489 888 $237.92 $65.39 551 Mgml Of Companies 22,466 171,439 $15.77 $0.83 ADMINISTRATIVE&SUPPORT;WASTE MGMT&REMEDIATION SVCS 561 Admin,Support Services 507 602 $14.64 $117.73 562 Waste Mgmt,Remediation 15,899 21,820 $10.51 $0.33 EDUCATIONAL SVCS;HEALTH&SOCIAL ASSISTANCE 611 Educational Services 5,310 6,957 $14.64 $13.12 621 Health-Ambulatory Care 1,584 1,956 $10.51 $8.08 622 Health-Hospitals 38,275 120,008 $13.18 $6.62 623 Health-Nursing,Home Care 13,562 15,001 $1.53 $1.16 624 Health-Social Assistance 14,041 28,237 $2.59 $2.25 ARTS,ENTERTAINMENT&RECREATION 711 Performing Art,Spectator Sports 5,377 11,321 $46.21 $3.30 712 Museums,Historical Sites 36,134 114,293 $3.38 $0.33 713 Amusement,Gambling,Recr 2,369 1,982 $263.19 $139.47 ACCOMODATION&FOOD SERVICE'. 721 Accomodation 2,094 1,192 $307.82 $277.88 NA 722 Food Services,Drinking Places 472 449 $1,230.66 $885.37 $736.52 OTHER SERVICES • 811 Repair,Maintenance 588 439 $203.49 $196.30 812 Personal,Laundry Servicc 665 579 $157.78 $48,94 TOTAL RETAIL AND SERVICES $9,461.51 $6,551.23 Page 30 0 Compare the Community to the Region Mounds View ou ty On other pages of this report we compared communities using a combination of retail sectors and service sectors. The information on this page only includes businesses in Retail Trade and does not include service sectors. The retail trade sectors include the following: building materials, motor vehicles&parts, apparel,food stores, electronics, convenience stores, leisure goods, health stores, furniture, general merchandise, non-store retail, and miscellaneous stores. Retail Sales per capita Ramsey County $4,762 Mounds View _$1 .66 State $5,148 Region 11 $5,40' ill ..',, 1" ,,4 ‘ 110 Region 10 $4,176 Region 9 $',763 71't s /5'vS� oll ,w,n Region 8 $3,078 I,lig to ` Region 7W $4,750 Ch1' , Region 7E $3,031 ' ' i ,m f Minnesota Region 6W $2,265 Development 6W 6E Regions Region 6E $4,202 Region 5 $4,963 $ 9 10 Region 4 $4,555 Region 3 $4,464 Region 2 $4,193 Region 1 $2,613 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 0 Page 31 • Minnesota Taxable Sales per Capita Trend 2003 ■2004 ❑2005 LI 2006 401 Misc.Store $450 $419 $407 -;v• $1,061 Gen.Merchandise $$1,05 $1,057 $1,054 $265 Leisure Goods $259 $259 $255 $ 67 Apparel ®$14$t.,2 $128 15 Gas Stations $202 $215$223 $100 Health&Personal _$102 $90 $99 Food $54 $5• $540 1,071 102 Building Materials $1' $1,0833 $1,000 : $420 Electronics 1,.388 $ 73$405 $320 Furniture 11111111111$322 $317 $303 $406 11111111111111111111111111111111111111MINIIIN .4 Vehicles&Parts 4 $341 $330 monimiumiummini $0 $200 $400 $600 $800 $1,000 $1,200 Page 32 Item Numbers: 6B Meeting Date: February 15, 2008 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Heidi Steinmetz, Economic Development Specialist Item Title/Subject: Introduce New Property Manager for Silver View Plaza A new property manager has been hired for Silver View Plaza. Her name is Katie Viere and she bean work with Kraus-Anderson on February 6th. Ms. Viere plans to attend the Feb. 15t EDC meeting. Respectfully submitted, O44. ,Z;(4./t.'lLe - Heidi Steinmetz Economic Development Specialist Item Numbers: 6C Meeting Date: February 15, 2008 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Heidi Steinmetz, Economic Development Specialist Item Title/Subject: Discuss Business Improvement Program Interest Rate Background: The Mounds View Business Toolbox is a document that was developed in early 2007 as a financial and technical resource guide for existing and prospective Mounds View businesses. The EDA last reviewed the attached document in April of 2007 and directed staff to obtain the EDC's input on the Business Improvement Program interest rate of 2% and whether or not the rate is appropriate. It was also the consensus of the EDA that the Toolbox remains an internal document to the City of Mounds View. The 411) Toolbox is still in draft form. Discussion: The Business Improvement Program text is located on Page 7 of the draft Mounds View Business Toolbox. Although staff and the EDA is requesting input on this particular program's interest rate, it may be beneficial for newly appointed Commissioners Larson and Wagner to review the entire document for future reference. Recommendation: Staff recommends that the EDC provide input on the Business Improvement Program interest rate. Staff will report the EDC's input to the EDA on February 25th and will request that the EDA formally adopt the document. Attachment: • Mounds View Business Toolbox, Draft as of April 2007 Respectfully submitted, Heidi Steinmetz Economic Development Specialist • Mounds View Business Toolbox - 4 1.7 ve • City of Mounds View Economic Development Internal Document Draft Last Reviewed by the Mounds View Economic Development Authority April 2007 • Mounds View Business Toolbox 1111 The Mounds View Business Toolbox is an internal document to the City of Mounds View Community Development Department. Any financial assistance available by the City of Mounds View is at the discretion of the Mounds View Economic Development Authority (EDA). A. Site Location Assistance The City of Mounds View maintains information on development opportunities within the community. These include vacant parcels, available building spaces, and redevelopment properties. Comprehensive plan, zoning, street, water, sewer, utility, and other maps are available for businesses, developers, realtors, engineering and architectural firms. B. Development Review Services Businesses considering Mounds View as an expansion or relocation are encouraged to contact staff at the Mounds View City Hall for various services, including construction • and building services, licenses, and zoning reviews. The Community Development staff evaluates developer proposals and reviews project plans that are presented by businesses and/or architectural/engineering firms. As such, staff does consider setbacks, permits, and rezoning that may facilitate projects. C. Business Development Programs The City of Mounds View collaborates with several other entities that provide services to our local businesses. These include the Twin Cities North Chamber of Commerce (located in Mounds View), the DEED Small Business Development Center (in Minneapolis), and the Ramsey County Workforce Investment Board (also referred to as Workforce Solutions, located in North St. Paul). In addition to several annual events, the Twin Cities North Chamber of Commerce hosts these monthly business education and networking events: 1) Twin Cities North Chamber of Commerce —www.twincitiesnorth.org A. Breakfast Club This activity occurs twice monthly and is held at the Mounds View • Community Center. The Chamber hosts a formal morning breakfast networking event attended by area member businesses. The event April 2007 Draft Mounds View Business Toolbox Internal Document Page 2 of 9 attracts traditionally 30 participants interested in marketing their . organization and exchanging best practice ideas. The group meets the second and forth Thursday at 7:30 a.m. The cost is $5 per person. B. Business Smartz The Chamber provides a practical business education forum in its guaranteed Business Smartz Seminar series. The Business Smartz program takes place the first Tuesday of the month, traditionally in the morning. This hour and a half long seminar is focused on educational topics that are practical and beneficial to business owners and key management in small to mid-sized organizations. Topics vary. The cost per event is $15. C. Evening Exchange Evening Exchange is a monthly afternoon networking event-taking place at an area business. Evening Exchange is designed to create a relaxed networking environment where business professionals from all company sizes can discuss partnership opportunities and exchange ideas. The event generally occurs the second Wednesday of the month. Location varies. No cost except for beverages. D. Monthly Educational Luncheon The TCN Chamber hosts a monthly networking and educational luncheon. • The event includes an average of 50 participants and is intended to connect with both new area businesses as well as those with deep roots in the community. A featured presenter discusses issues pertinent to members in the northern Twin Cities suburbs. Location varies. Cost is $16 per person. E. north yp network As an offering geared toward early stage business professionals, the north yp network serves as the Chamber's young professionals networking and education group (ages from 21 to 35+/-). The north yp network holds events twice a month: one social/networking; one educational. The group self directs its agenda and is run by an active committee. Location and cost varies. 2) DEED Small Business Development Center (SBDC) —www.mnsbdc.com The state's SBDC offers individual advice and guidance concerning the formation, management, financing and operation of businesses. Counseling is provided at no charge to qualified businesses, although there may be a fee for certain out-of-pocket costs incurred by the SBDC. To qualify for counseling, the business must be "small" as defined by the U.S. Small Business Administration. Individuals who are considering starting a business are also eligible for counseling. • April 2007 Draft Mounds View Business Toolbox Internal Document Page 3 of 9 How does the program work? 0 The client must sign a "Request for Counseling" form and must agree to participate in surveys designed to measure the effectiveness of the SBDC program. To maximize the value of the counseling, clients should prepare a draft business plan before meeting with the counselor. SBDC counselors have significant experience in the private sector, and many have extensive management and financial consulting backgrounds. To learn more about the services, Mounds View businesses can contact the local SBDC office located in at the University of St. Thomas (Minneapolis campus). You can contact Michael Ryan at 651-962-4500. 3) DEED Business Services DEED Business Services staff serve the business community in Ramsey County, and around the state, with business development and workforce-related services. Services including helping startup and expanding businesses, coordinating specialized business development products and services to employers, brownfield redevelopment assistance, and labor market information. Local businesses can contact Cheryl Beaumier, Business Services at 651-779-5645. D. Workforce Development Programs 0 Minnesota WorkForce Centers (WFCs) provide the tools, resources and services needed for job search, career planning and training needs. WorkForce Centers are a collaboration of partners. People seeking work, businesses seeking employees, students, and those looking for a first job or returning to the workforce, will find services to meet their needs, most offered at no cost. Each WFC house houses a Resource Area that operates similar to a library. The Ramsey County WorkForce Center that services businesses in the City of Mounds View is located in North St. Paul. The Center provides a variety of services to employers to meet their employee recruitment and retention needs. Some services provided include training seminars, training grants, job fairs, and wage subsidies to name a few. Businesses may contact Cheryl Beaumier, Business Services at the Minnesota Department of Employment & Economic Development at 651-779-5645. Businesses can also visit the Department's website at www.deed.state.mn.us. Some of the workforce programs available to employers include: 1) Minnesota's Job Bank The Minnesota Department of Employment and Economic Development (DEED) is responsible for administering various state and federal programs that provide workforce development services. Minnesota's Job Bank is an Internet-based self-service system where member employers and job seekers can find each other. Employer members can post job openings to be searched by job seekers. 0 Employer members can also search for job candidates and contact them by email. Job seeker members can post a resume to be searched by employers. April 2007 Draft Mounds View Business Toolbox Internal Document Page 4 of 9 Members can also search for job openings, contact employers by e-mail, and 111 apply online. 2) Work Opportunity Tax Credit (WOTC) & Welfare-to-Work Tax Credit (WtW) WOTC allows employers to take a federal income tax credit when they hire persons from certain targeted groups. For most groups, the maximum credit is 40% of the first $6,000 in qualified wages for a savings of $2,400. The WtW Tax Credit is a two-year program involving the hiring of long-term family assistance recipients that provides tax savings up to $8,500 for each eligible new hire. 3) Customized Training Programs. The Metro Consortium for Customized Training is an association of the Customized Training divisions of the 10 metropolitan area community and technical colleges and Metropolitan State University. It facilitates customized training for Minnesota employers using the expertise and resources of the 10 institutions. For example, Anoka-Ramsey Community College has collaborated with the Consortium and customized training programs for various occupations pertaining to the medical device industry. 4) Minnesota Vocational Rehabilitation (VR) Program The VR Program helps Minnesotans with significant disabilities get ready for, find and keep their chosen jobs and careers. E. Business Finance Loans & Grants For both existing businesses desiring to expand and for businesses new to the City there are federal, state and local financial assistance programs. All local financial assistance is at the discretion of the Mounds View EDA. 1) Small Business Administration Loan Programs — SBA 504 Loan / 7a Loan The U.S. Small Business Administration provides a wide array of programs to help small businesses, including financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities, and veterans. The SBA 504 Loan program provides fixed-rate, long-term financing for land, buildings and manufacturing equipment or machinery. SBA 504 Loans feature a 10 to 20 amortization, fixed-loan payments, below market interest rates, and a low downpayment. The deal structure is 50% bank loan (1st position), 40% SBA 504 (2nd position), and 10% equity injection. (A new business and a special- purposed building require 20% equity injection.) The program's minimum and maximum loan amounts are $50,000 and $750,000 respectively. • April 2007 Draft Mounds View Business Toolbox Internal Document Page 5 of 9 How does the program work? • Businesses should contact the certified development company authorized by SBA to originate and service SBA 504 loans in their geographic area. SPEDCO is a non-profit certified development company located in New Brighton whose mission is to help small businesses obtain financing for job creation, to fund business expansion and to promote economic development in Minnesota. SPEDCO can handle SBA Loan financing for businesses wishing to expand or locate in Mounds View. They provide long-term, fixed rate loans through the SBA 504 Loan program and also provide 7(a) loan packaging consulting services to banks and their customers. For more information call 651-631-4900. 2) State of Minnesota Business Financing Programs The Department of Employment and Economic Development encourages the creation of high quality jobs through business growth, expansion and retention. Business Development Services help companies expand or relocate in Minnesota, find and train employees, promote international trade, and finance business expansions. The most likely funding program applicable to Mounds View businesses would be the Minnesota Investment Fund (MIF). It's designed for businesses acquiring "fixed assets" (such as equipment, buildings, and land) and adding new employees as a result. This program provides companies below-market financing. Virtually all types of businesses are eligible, except retail. The maximum award is $500,000. The applicant is the city. Terms are • negotiated. 3) Ramsey County Business Loan Program The Ramsey County Business Loan Program provides gap financing that can be used in conjunction with other private and public funds. Who can apply? In general, loans are restricted to commercial, industrial, or service oriented businesses located in or moving to Ramsey County. In addition, businesses must be registered to do business in the State of Minnesota and demonstrate a need for public financing. How does the program work? Loans are typically made for the purchase of capital equipment, land and building acquisition, and building rehabilitation or new construction. Application fees are low, and rates and terms are more flexible than the market. Loans of up to $250,000 are provided. To request an application, or to obtain more information, you can contact Denise Beigbeder at the Ramsey County Community and Economic Development office at 651-266-8005. 4) Bonds used for Development By state law cities can issue bonds. These debt instruments can be taxable or tax-exempt. Not all bonds are general obligation. Pure revenue bonds are also • common, especially for development. Bonds can be used to pay project costs April 2007 Draft Mounds View Business Toolbox Internal Document Page 6 of 9 • and for the first two or three years of interest payments. This reduces the need • for short-term revenue. There are several types of bonds the City could consider for development projects: a) Revenue Bonds. Various bonds used to finance industrial, commercial and medical facilities, multifamily rental housing, nursing homes and some nonprofit activities. b) Industrial Revenue Bonds. Allows cities to issue tax-exempt bonds to finance fixed assets. In the typical transaction, the city issues the bonds and becomes the legal owner of the asset (e.g. building). The City then leases back or sells the asset to the company. The firm's repayment coincides with bond payback. c) Essential Function Bonds. Certain types of economic development are considered by the state to be "essential functions" of a city. Sometimes called "housing revenue bonds", these bonds are not general obligation bonds backed by the full faith and credit of the City. Revenues generated by the project pay the bond and can be used for a variety of housing options (market and nonmarket rate). d) Common Bond Revenue Bonds. State and local governments may issue tax-exempt or taxable revenue bonds on behalf of private borrowers to provide lower interest rates on long-term financing. In general, manufacturing, medical facility, nonprofit or nursing home projects are eligible for tax-exempt revenue bonds and those issued for • commercial projects are taxable. Bonds issued through the Common Bond Fund are investment-grade instruments with a rating based on the security provided by the fund. e) Bank Qualified Bank Direct Tax-Exempt Loans. These are cost- effective tax-exempt financing for capital projects for small manufacturing companies and nonprofit organizations. 5) Business Improvement Partnership Program The City's Economic Development Authority has a vested interest in helping Mounds View businesses thrive and prosper while improving the aesthetics of the commercial, industrial, and retail sectors of the community. Accordingly, the Mounds View Business Improvement Partnership Program has been established to partner with local businesses by providing 2% interest loans for exterior and interior building improvements. Who can apply? Any business owner with a facility or property located in Mounds View. How does the program work? The City's Economic Development Authority, in partnership with local banks, will provide improvement loans to existing Mounds View businesses at a minimum of $10,000 and a maximum of $50,000. The City participates by providing half of • the loan amount at a 2% interest rate. April 2007 Draft Mounds View Business Toolbox Internal Document Page 7 of 9 • 6) Tax Rebate Financing (TRF) In 2000 the City of Mounds View adopted policies pertaining to Tax Rebate Financing (also known as Tax Abatement). An abatement is a property tax repayment rather than an exemption from paying property taxes. It is a method to finance up-front costs and provide additional equity to a development or to finance a public improvement. For eligible redevelopment and development projects, all or a portion of City real estate taxes can be rebated for up to 15 or 20 years. Ramsey County and the Mounds View School District can also rebate all or a portion of their share of real estate taxes. Who can apply? Any developer or business owner with a facility or property located in Mounds View, or any developer or business owner intending to construct a facility in Mounds View. How does the program work? The developer or business owner completes a Tax Rebate Financing (TRF) application and submits the application and the required $1,000 application fee to the City's Community Development Department. Economic Development staff reviews and analyzes the information and presents it to the City's Economic Development Authority. The maximum applicants may abate is $200,000 per year or up to 10% of the City's levy. There is no minimum abatement or rebate. 7) Tax Increment Financing (TIF) TIF is considered the premier tool for economic development in Minnesota. Since 1986 the biggest single development program in the City of Mounds View's Toolbox has been the use of Tax Increment Financing (TIF). TIF, in brief, is the ability to capture and use all increased local property tax revenues from new development within a defined geographic area. TIF payments to developers can be used for eligible uses, such as land acquisition, demolition, utilities, parking, relocation, administration, etc. There are different types of TIF districts, including redevelopment, economic development, housing, and soils condition districts. Mounds View currently has four tax increment financing districts—three redevelopment districts and one economic development district. Who can apply? Any developer or business owner with a facility or property located in Mounds View, or any developer or business owner intending to construct a facility in Mounds View. How does the program work? The developer or business owner completes a Tax Increment Financing (TIF) application and submits the application and the required $5,000 application fee to Sthe City's Community Development Department. Economic Development staff April 2007 Draft Mounds View Business Toolbox Internal Document Page 8 of 9 reviews and analyzes the information and presents it to the City's Economic • Development Authority. The EDA gives preference to the use of "pay as you go" assistance to finance development or redevelopment projects. 1111) April 2007 Draft Mounds View Business Toolbox Internal Document Page 9 of 9 Item Numbers: 6D Meeting Date: February 15, 2008 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Heidi Steinmetz, Economic Development Specialist Item Title/Subject: Finalize 2008 EDC Priorities Background: The EDC drafted their 2008 priorities at their January 18th meeting based on their 2007 priorities. Discussion: Below is what staff understood as the new EDC priorities. S1. Development/redevelopment along County Hwy 10 Corridor a. Premium Stop Redevelopment Area b. Saturn Dealership c. Silver View Plaza d. Trailway connections to businesses e. PAK building f. Establish partnerships among neighboring cities in order to strengthen the County Hwy 10 corridor (i.e. potential name change for County Hwy 10) g. Knollwood Place & Johnson Property 2. Skyline Motel Redevelopment 3. Monitor and assist with City-wide housing projects • February 15,2008 EDC Meeting Page 2 of 2 !. Recommendation: Staff recommends that the EDC make changes, if any, and finalize their 2008 priorities at the February 15th EDC meeting. Staff will then present them to the EDA on February 25th. Respectfully submitted, Heidi Steinmetz Economic Development Specialist S • • Item No. 6E Meeting Date: February 15, 2008 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Heidi Steinmetz, Economic Development Specialist Item Title/Subject: Review Economic Development Component of Comprehensive Plan Background: The City's Comprehensive Plan is a policy document, which was last updated in 2001. It is meant to be a guiding document or framework for the future of the community. Commissioner Meehlhause represents the EDC on the Comprehensive Plan Task Force, which was formed earlier this year. EDC members are welcomed to attend Comprehensive Plan Task Force meetings, held the second Wednesday of each month, to provide input on the entire plan. • It is anticipated that the draft update will be completed by June of 2008 with the final document ready for adoption by the City Council by December of 2008. The Comprehensive Plan Task Force asks that all City boards and commissions provide input on relevant sections of the plan (i.e. the EDC is asked to review the attached Economic Development component of the plan). On October 19, 2007, the EDC opted to review the Economic Development component of the plan in sections beginning on November 16, 2007. On November 16th, the EDC asked that staff provided a side-by-side comparison, as attached in item 6A, between the Comprehensive Plan, the EDC's 2007 priorities and the City Council's most recent Economic Development goals and strategies. The EDC's goal was to provide staff with comments via e-mail prior to the January 18th EDC meeting. Discussion: Comments provided by EDC members via e-mail include the following and are "flagged" in the attached Economic Development component of the Comprehensive Plan: • Page 90, paragraph 4 — broaden this statement (i.e. "pursue retail or office businesses") • Page 91, first bullet — add a statement that would measure if a business is making a positive contribution to the local economy (i.e. "through jobs, • taxes, zero violations") • Page 91, bullet 3 - add residential development (i.e. "attract new commercial, industrial and residential") February 15,2008 EDC Meeting Page 2 of 2 • Page 91, repeat bullet 5 on page 90 in order to better clarify in what cases • the City would consider acquisition of property • Page 92, bullet 7 and sub-bullets— review the wording • Page 93 - add a bullet about the highly ranked school district • Page 93 - add a bullet about updating the infrastructure of our streets • Page 94, first full bullet— update to reflect the current market • Page 95 - add a bullet addressing "unsafe" properties or those with many police calls or health violations. Recommendation: Staff recommends that the EDC finalize their input on the Economic Development component of the Comprehensive Plan so that staff and Commissioner Meehihause, the EDC representative on the Comprehensive Plan Task Force, may present it to the Task Force on March 12th Attachment: • Economic Development Component of the Comprehensive Plan Respectfully submitted, • - Heidi Steinmetz Economic Development Specialist • City of Mounds View Comprehensive Plan • COMMUNITY ECONOMIC DEVELOPMENT GOALS Mounds View's future economic development will be governed and directed by a set of basic goals, principles and assumptions. The most important of these are set forth below. The redevelopment or expansion of an existing business,new commercial or industrial development, or residential housing will be considered even if it involves the possible acquisition,demolition or relocation of an existing business or residential homes. The redevelopment or expansion of an existing business, or new commercial or industrial development,or residential housing will be considered if a reasonable opportunity for public input has been provided,particularly by those business owners and homeowners who could potentially be affected. Whether or not such parties support (or, at a minimum, do not oppose) any proposed redevelopment, expansion, new development or new project will be one of the more important factors in determining the City's position with respect to any such proposal. In the final analysis,the City's goal will be to determine whether the actual or potential benefits to the City(from any such proposal) outweigh the actual or potential negative impacts on individuals, businesses or the community as a whole. The City will actively market itself to selected target audiences as a prime location for specific types of businesses and industries. In order to continuously refine and review its objectives as economic Vi conditions and realities change,the City(through the EDC and/or the EDA) will annually update its �e list of targeted businesses and industries.Although the City will respond in a timely and businesslike \_x h v manner to all requests for information about the City's suitability as a business location,City staff ' members will focus their attention on those requests that come from businesses of the type that ,,e\ a pear on the City's target list. D In light of the increasing mobility of businesses in general,the City's future economic development efforts will focus on retaining existing businesses and industries in the community,in some cases by helping to create circumstances under which they can expand to meet their customers needs and/or their own desire to grow and prosper financially. Given the fact that the City is almost fully developed,and in order to improve the City's tax base and improve the City's visual aesthetics,the City also intends to devote significant attention to redeveloping aging, obsolete, blighted or otherwise underdeveloped structures. Additionally,the City will explore the opportunities that are presented by the few remaining parcels of undeveloped property. In some cases this may involve assisting the owners of such parcels with the marketing of their properties to prospective developers. The City recognizes that the maintenance of an adequate workforce will be one of the most serious challenges that will face business and industry for much of the foreseeable future, and that the private sector and/or educational institutions will be primarily responsible for addressing and resolving workforce issues. However,the City is prepared to assist with such efforts by working collaboratively with others who are concerned about such issues. The nature of the City's assistance may include having City representatives serve on local and regional committees,commissions and agencies devoted to this important topic. co 90 City of Mounds View Comprehensive Plan • PRIORITIES FOR ECONOMIC DEVELOPMENT DECISIONS In order to expand the City's tax base and thereby provide property tax relief for homeowners,the City of Mounds View's economic development priorities and objectives are,in general,as follows: > • Retain existing businesses that make positive contributions to the local economy. • Provide a reasonable and prudent level of assistance(financial or otherwise)to enable existing businesses to expand their operations and/or facilities in Mounds View. • Attract new commercial and industrial development. • Encourage the development of new office space,warehouse space and retail operations that will enable Mounds View to offer services,facilities and goods that are not presently available in the community,or that are unavailable in sufficient quantity or quality. • Pursue the redevelopment of parcels and sites that are aesthetically displeasing,contaminated, blighted, abandoned,or otherwise underdeveloped. ft6 • Facilitate communications between and among the City,Ramsey County,local businesses,the Chamber of Commerce,local educational institutions,and any other parties or entities having a 6(1Q/ direct or indirect interest in the continued economic prosperity of Mounds View. Q 90 • The City will continually develop and review more specific priorities in order to provide I guidance to City staff,business owners,developers,and residents with respect to intended areas of concentration(geographic and otherwise). 11110 91 • City of Mounds View Comprehensive Plan 0 RESOURCES TO SUPPORT ECONOMIC DEVELOPMENT Resources to support economic development can be defined as any facts,programs or circumstances that enhance Mounds View's ability to attract new businesses,retain and expand existing businesses, or assist in the preservation of a vibrant, diverse local economy. Such resources currently include the following: • Close proximity to Interstate 35-W, allowing relatively quick and easy access to the downtown areas of Minneapolis and St. Paul, and to other portions of the Twin Cities metropolitan area. • Good internal traffic circulation. • Successful, attractive business parks. • Visible evidence of new commercial activity, storefront improvements, remodeling, and other indications of local economic health. • Ongoing efforts to enhance the appearance of, and to better coordinate planning for the further development of,the County Highway 10 corridor and the community at large. ,40 • Local business owners who are interested in expanding their operations and improving the appearance of their properties. • The potential availability of City assistance for appropriate development or redevelopment 7,1 projects. IP)' o Tax increment financing is a type of assistance that has been provided by the City in the fe;V I d 1 , past, and City-assisted funding for cosmetic and operational improvements has been 0 0 r provided through the Business Improvement Partnership Loan program. (s 0 , o These types of City assistance have been,and will continue to be,provided in a manner ‘)utli consistent with the City's written policies regarding such assistance,and will generally .frs be limited to situations in which their use will enable the City to attract a new business, ell ,(,Le- retain or expand an existing business,provide new employment opportunities,enhance 5 v the City's tax base,or otherwise improve the appearance or vitality of the local business '-'1° economy. o The City will continually monitor and periodically evaluate its programs and policies regarding development and redevelopment assistance in order to make certain that they are helping the City meet its economic development goals,priorities and objectives. 11110 . . 92 City of Mounds View Comprehensive Plan • • Parcels of land that are suitable for development or redevelopment. • An active local Chamber of Commerce. • A coordinated approach to local planning and development issues, as evidenced by the ongoing work of the I-35W Corridor Coalition. • A plentiful supply of life-cycle housing to accommodate a wide range of incomes. • Easy access to mass transit for workers who need or prefer to use such methods of transportation. • The proximity of the Anoka County Airport in Blaine. ax.LetbLt(L /b (the) .a/ scit ooh. d i:s-tr1`c. ' c n-rCLS rem ECONOMIC DEVELOPMENT CHALLENGES The effectiveness of local economic development can be enhanced by continuously assessing,and attempting to address, any circumstances that might negatively impact the local business climate. Such circumstances may include those that might: 1111 a. make a developer or business owner less inclined to establish a new business in Mounds View; or b. make a developer or business owner less inclined to relocate an existing business to Mounds View; or c. make an existing Mounds View business less inclined to expand its operation in Mounds View; or d. make anexisting Mounds View business consider moving its operation to another community; or e. adversely affect, in some other way, the ability of an existing Mounds View business to achieve economic success. The preceding circumstances are, to varying degrees, mitigated by the presence of financial and other incentives that encourage or allow economic development.Successful economic development will continue to require the careful monitoring of these existing and developing challenges so that realistic and timely efforts can be made to emphasize Mounds View's many positive attributes in order to effectively minimize or counteract negative perceptions or circumstances.Examples of such future efforts may include the following: • In order to address the relative scarcity ofraw land suitable for new construction, and in light of the small size of the few remaining parcels of undeveloped land, • 93 • • City of Mounds View Comprehensive Plan • Prepare and periodically update an inventory of undeveloped land, • List undeveloped parcels on the City web site with the knowledge and consent of their owners/agent, • Acquire and/or clear underdeveloped sites suitable for new construction, • Focus development efforts on businesses suitable for smaller lots, and investigate the possibility of combining adjoining lots to accommodate larger businesses. • In situations involving unrealistic price expectations on the part of those who own undeveloped parcels of land(i.e., asking prices well in excess of actual market value), 771. tk,O • Wait for the market to catch up with currently excessive asking prices and \Q • Investigate options that might reduce those prices(offering relocation assistance,etc.). • In cases involving actual or perceived neighborhood opposition to commercial development of certain types in certain areas, • Survey nearby residents to determine their preferences and/or • Arrange neighborhood meetings or public hearings in connection with proposed IIIcommercial development(s). • In situations where owners of underdeveloped parcels(especially residential homeowners and owners of old or obsolete commercial structures) are unwilling to sell, thereby delaying or preventing the development of those properties to their highest and best use, • Arrange meetings with the owners, • Provide current information to them regarding the potential market value of their properties, • Develop or refine City relocation policies, or • Consider the use of eminent domain only as a last resort. • In order to strengthen Mounds View's identity, • Continue work on the development and improvement of County Highway 10, • Maintain a high profile within the local and regional business communities, • Attempt to develop a greater sense of community, and • Handle business climate inquiries promptly and professionally. • Given the scarcity of attractive office space and rental warehouse/office space, encourage new construction to meet these needs. 40 " 94 • City of Mounds View Comprehensive Plan • Due to the potentially high cost of some of the available methods of aggressively recruiting the most attractive new business prospects and/or marketing Mounds View as a business location, investigate and use the more cost-effective and/or more carefully targeted recruitment/marketing techniques. • Inasmuch as limited funds are available for the funding of business incubator programs, enterprise facilitation projects or other initiatives designed to help new businesses get started locally, • Pursue grants to fund such programs, • Establish collaborations with other governmental entities and non-profit organizations, and • Serve as a clearinghouse for information about assistance(financial and otherwise)that may be available from sources other than the City. • In light of the limited selection of tools that are available to the City to finance or promote economic development,monitor developments affecting economic development and(where appropriate) make recommendations regarding alternative, new or improved methods of IDproviding advice, assistance or encouragement. • Due to the high cost ofredevelopingproperty vs. developing property,participate in seeking creative solutions to the financing challenges inherent in potential redevelopment projects. acid Lett,--6 ad d rEs s j ut s ct- ,' P ro peiii S 0 95 Item Numbers: 6F Meeting Date: February 15, 2008 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Heidi Steinmetz, Economic Development Specialist Item Title/Subject: Internal Public Communications/Marketing Assessment Background: At the January 18th EDC meeting, staff recommended that an assessment be completed of the City's public communications and marketing efforts to date in order to assist the City in forming public communications and marketing goals. Due to costs associated with hiring a consultant to complete an assessment, the EDC discussed potentially having an intern complete the assessment. Although staff feels that a third party should complete the assessment to achieve an unbiased viewpoint, staff proceeded to conduct an internal assessment as a starting point. Discussion: The attached assessment is staffs informal attempt to assess Mounds Views public communications/marketing efforts to date. There are several questions within the assessment for the EDC to discuss at the February 15th EDC meeting. Recommendation: Staff recommends that the EDC provide input on the road sign designs included in the assessment. Staff will report the EDC's input to the Council as they move forward with choosing a design. 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Q 0 CD CD ca m st h CD g cn = D — -aCn o �, cnca FA (D Cl) Cl) Cl) 0 O --t CSD CD .7.11_ .O CD O 3 J 9 a. CD o fin) 5 3 v co < O CD CD CD CD O – ? a) CD a 3 0 cn n .a O 0 Q "0 a J`G 3 ca Cr. Cl) CD CD CD 0p -a CD cr CD ?DI. O CDm to CJ N a • 0 C1 cp mci, hc .a . T 0) < 0 CD Q- 2 m 0 O v Ci t1') O O E. 0 010 cn Item No. 8A Meeting Date: February 15, 2008 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Heidi Steinmetz, Economic Development Specialist Item Title/Subject: Medtronic Tour February 20th Since three EDC members were unable to attend the January 31st Medtronic tour, another tour has been scheduled for Wednesday, February 20th at 8:00am sharp. We will meet in the front lobby at 7:50am. • Item No. 8B Meeting Date: February 15, 2008 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Heidi Steinmetz, Economic Development Specialist Item Title/Subject: Premium Stop Redevelopment The EDA held four discussions regarding the possibility of participating financially with the acquisition and redevelopment of Robert's located at 2400 County Road H2 on December 3rd, 10th and January 14th and 28th. Robert's is one of three parcels included in the first phase of the Premium Stop Redevelopment project. The consensus of the EDA on January 28th was that they do not wish to provide additional funding towards the Premium Stop Redevelopment Area but S authorized staff to submit a $510,000 Redevelopment Grant application to the Minnesota Department of Employment & Economic Development (DEED). If received, the grant will assist a developer to acquire and redevelop Robert's. The developer would also provide the local match that is required by the State. Grant awards are not expected to be announced until mid to late March and funds are not available until May or June. The property may be sold prior to the receipt of grant funds to a party who is interested in reusing the property as a bar. The interested party expects to submit a purchase offer the week of February 11th upon receipt of a sprinkler bid. Staff continues to work with Master Development on the Premium Stop Redevelopment Project under the terms of the Preliminary Development Agreement between the EDA and the developer. Respectfully submitted, Heidi Steinmetz • Economic Development Specialist