FEDRAC MINS 09-14-2004
City of Federal Way
City Council
Finance/Economic Development/Regional Affairs Committee
Tuesday, September 14, 2004
5:30 p.m.
City Hall
Hylebos Conference Room
MINUTES
Committee Members in Attendance: Chair Eric Faison, Member Jeanne Burbidge, and Member Jim Ferrell.
City Council Members in Attendance: Mayor Dean McColgan , Deputy Mayor Lin da Koch mar ,
Councilmembers Jack Dovey and Michael Park.
Staff Members in Attendance: Iwen Wang, Management Services Director; David Moseley, City Manager; Pat
Richardson, City Attorney; Patrick Doherty, Deputy Director of Community Development; Jason Suzaka,
Management Analyst.
Others in Attendance: Dini Duclos and Tom Pierson, Federal Way Chamber; Bob Couper, Lloyd Enterprises;
Gary Martindale, The Commons at Federal Way; Erica Hall and Debbie Kaufman, Federal Way Mirror.
1. CALL TO ORDER
Chair Eric Faison called the meeting to order at 5:36 p.m.
2. PUBLIC COMMENT
None.
3. COMMITTEE BUSINESS
a) Approval of the August 10, 2004 meeting minutes
Motion to approve the August 10, 2004 minutes. Motion seconded and carried.
b) Presentations from Potential City Center Lifestyle/Retail Market Analysis Firms
1) Bob Gi bbs – Gi bbs Pl a n n i n g (Bi r m i n gh a m , MI)
(Handout given out by Mr. Gibbs)
• Performs services such as sales forecasting, siteplanning, tenant mix, signage/development
codes, and market studies.
• Roughly half of his clients are in the public sector; has worked on projects in Charleston, SC,
Cambridge, MA, Beverly Hills, CA, and Issaquah, WA.
• We are currently seeing a reinvention of retail; there is a move towards outside mixed-use
projects.
• Few malls are being built; developers are seeing full retail projects as too risky.
• Mr. Gibbs uses a three-step mar ket study pr ocess:
i. Supply/Demand Study (using U.S. census info)
ii. Store visits/Interviews/Field inventories
iii. Retail industry review/Results of study
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• He will create three models:
i. A status quo model, forecasting the next five years.
ii. A “Max” model, which incorporates a market-driven process, without any
government intervention.
iii. A mutually agreed upon model.
The committee took a break at 6:30pm, reconvening at 6:39pm.
2) Anne Ricker – Leland Consulting (Denver, CO)
Paris Rutherford – RTKL Associates, Inc. (Dallas, TX)
(Handout passed out to the Council)
This was a joint presentation between the two companies. Leland Consulting performs market
analysis, fiscal/financial analysis, and economic development strategies. RTKL specializes in
planning and urban design architecture.
The team focuses on market strategy, rather than market studies.
Wh en asked wh at compan ies sh ould be tar geted to come to Feder al Way, Ms. Ricker stated th at
the city may not need to target specific companies. Developers may be able to bring in retailers
through their relationships.
The committee took a break at 7:37pm, reconvening at 7:42pm.
3) Paul Schlesinger – Buxton (Texas)
(Handout passed out to Council)
• Buxton specializes in retail site selection
o They match the buying habits and lifestyles of people in a given area with retail and
restaurant concepts where they will most likely buy their product.
• Local projects include Mill Creek, Shoreline, and Lacey
• Th ey focus on “customer s,” n ot people.
o They look at behavioral tendencies of customers (i.e. drive times, spending habits, etc.),
using an exhaustive amount of data.
o Results include individual retail/restaurant match reports
The committee recessed at 8:35pm to go into executive session.
Left executive session at 8:35pm to go back into FEDRAC.
• Q&A session
4. OTHER
None.
5. FUTURE AGENDA ITEMS
6. NEXT SCHEDULED MEETING
October 12, 2004 at 5:30 p.m. in the Hylebos Conference Room.
7. ADJOURN
Chair Eric Faison adjourned the meeting at 8:46p.m to go to executive session.
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Recorded by Jason Suzaka