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<br />PHASE I DELIVERABLES <br /> <br />· Summary report with a description of the preliminary merchandising strategy for <br />Redwood Creek and the Bayfront. Such report shall also note the overlap of <br />proposed uses, if any, between the Study Areas and downtown Redwood. <br /> <br />· Bubble diagrams of potential development sites and proposed uses for each parcel. <br /> <br />PHASE I SCHEDULE <br /> <br />Phase I will start immediately upon the signing of the Agreement and will be completed <br />within four (4) weeks. A status reports will be sent to the City after two weeks and a <br />face to face meeting will be held within thirty (30) days after the start of this Phase I. <br />The final deliverables for this Phase I will be submitted to the City on or before the end <br />of the 4th week after commencement. <br /> <br />PHASE II MARKET RESEARCH <br /> <br />Conduct market research to determine the optimum size, height, density, and the gross <br />sales potential of the Study Areas to include Redwood Creek and the Bayfront. <br /> <br />2.1. Sales Potential <br /> <br />· Define a trade area for downtown Redwood City, Redwood Creek and the Bayfront, <br />consisting of primary and secondary markets for each. <br /> <br />· Identify the various market segments that fall outside of the trade areas from which <br />the Study Areas and downtown Redwood City can reasonably attract sales on an <br />on-going basis (i.e., surrounding cities, nearby office workers). <br /> <br />· Define the sales potential of a trade areas for downtown Redwood City and the <br />Study Areas. <br /> <br />· Estimate the capture rate of retail sales and residential sales for the Study Areas. <br /> <br />· Estimate the total retail sales potential for the Study Areas and downtown Redwood <br />City over a 10 year period starting in 2012 through 2022. <br /> <br />2.2 Supportable Square Footage <br /> <br />Estimate the square footage of retail space, which can be supported by downtown, <br />Redwood Creek and the Bayfront. <br /> <br />· Model various square footage and anchor scenarios for the Bayfront, Redwood <br />Creek and downtown Redwood City to determine the optimum size of proposed <br />developments. <br /> <br />Agreement over $10K <br />City Attorney Approved Version 012710 <br /> <br />12 <br /> <br />~ <br />