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Ms. Rachel Juba, Planner July 28, 2013 City of Hugo Page 3 C. Identify locations in the Downtown that represent the best potential locations for additional retail development. D. Analyze retail market trends in the Trade Area 1. Examine demographic growth trends and characteristics of the Trade Area. 2. Examine retail expenditure data for households in the Trade Area. 3. Examine data on overall retail sales trends in the Trade Area. 4. Conduct interviews with local businesses, Downtown business associations, retail leasing brokers and building owners, and others involved with the devel- opment of retail space in the Trade Area; identify areas near to the Downtown that compete for Hugo customers for various goods and services. E. Existing Retail Market Conditions 1. Update inventory of existing retail space in Downtown Hugo (utilize assessor's data in addition to physical visual inventory);focus on retail space added to the community since the previous analysis; identify how the retail mix has changed and update vacancies. 2. Compare lease rates for new space in Hugo to those of nearby communities; discuss the ability to capture new space based on lease rates for new users in the Downtown; assess challenges for different retail sectors. 3. Inventory any planned retail development, including renovations and expan- sions in the Trade Area. Assess their impact on the potential for retail in Downtown Hugo and the community as a whole. 4. Interview retail brokers in the area regarding retail market trends, positioning of Hugo within the Trade Area, the potential for new retail in specific locations and identify areas that would compete with new retail development in Down- town Hugo for customers. 5. Analyze the capacity to attract new restaurants to the Downtown; discuss ways to overcome the challenges in attracting this type of space to the area. E. Demand Estimates and Recommendations 1. Reassess the ability to support additional retail space in Hugo through 2020. 2. Identify unmet market niches that exhibit the potential to be successful in Hu- go. 4. Analyze the conditions necessary to attract certain types of users. S. Develop a plan for attracting these users. 6. Identify existing synergies and how they may be increased. III. Office Market Analysis A. Define the Trade Area for office space; examine demographic growth trends in the Trade Area. B. Update Employment Trends and Business Growth in the Trade Area. 1. Update overall employment growth trends for the Trade Area. MAXFIELD RESEARCH INC.