Title
Chief Administrative Office recommending the Board authorize the Chair to sign Agreement 233-S1011 with the City of Placerville, Marshall Medical Center and Buxton Company in the total amount of $90,000 for a targeted retail retention and expansion development tool, noting the original Buxton Agreement 233-S1011 has been modified to reflect a cost sharing between the County of El Dorado, City of Placerville and Marshall Medical Center.
Fiscal Impact FY 2009/2010
Targeted Retail Retention and Development Tool (Buxton): $35,000;
$17,500 paid by the City of Placerville, and $17,500 paid by Marshall Medical Center
Fiscal Impact FY 2010/2011
Targeted Retail Retention and Development Tool (Buxton): $55,000.
Paid by the County of El Dorado, Economic Development.
Body
Background
On November 3, 2009 the Board of Supervisors authorized the Chairman to execute an agreement with Buxton for a targeted retail retention expansion development tool. Originally a contribution of $45,000 was anticipated from the City of Placerville and Marshall Medical Center. The revised agreement solidifies a $35,000 contribution by the City of Placerville, and Marshall Medical Center. The total cost of $90,000 remains unchanged and will be paid over two fiscal years; The City of Placerville will contribute $17,500 upon execution, Marshall Medical Center will contribute $17,500 upon completion of the Health Care Analysis, and the County of El Dorado will contribute $55,000 by August 1, 2010.
Buxton will provide to the City of Placerville, Marshall Medical Center and the County of El Dorado an economic development tool designed to develop a strategy for economic growth. Buxton supplies custom marketing materials and strategies, targeting the unique location requirements of retailers, developers, and commercial real estate brokers. Buxton collects and analyzes a community's trade area information then defines the trade area based on the supply and demand of products, and generates a sales leakage report. Buxton's customer analytics identifies and profiles customers, matching customers with retailers.
The Buxton development tool will help evaluate the County's current and future market potentials. Buxton will provide marketing packages and introductions to national and regional retailers. In addition, Buxton will identify El Dorado County's healthcare needs through an analysis of its existing healthcare supply and demand. This will help existing healthcare providers meet the future needs of our residents, retirees, and visitors.
Buxton provides a valuable economic development tool which will assist the City of Placerville, Marshal Medical Center and the County of El Dorado make strategic decisions, help existing business, and develop new markets.
Reason for Recommendation: The revised Buxton agreement memorializes the collaborative effort between the City of Placerville, Marshall Medical Center and the County of El Dorado.