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Step 1: Economic Profile <br />The economic profile will provide market information to quantify Downtown <br />Louisville's existing and potential consumer and investor markets. The profile's evaluation <br />of the regional marketplace will also serve as a foundation for recommendations to improve <br />downtown and accommodate future development. <br />The economic profile will aim to confirm Lousville's markets and provide the <br />following descriptive information: <br />Market demographics; <br />Attitudes and perceptions toward Downtown; <br />An evaluation of competitive retail and service outlets, including McCaslin <br />Boulevard, Boulder Mall, Lafayette, Niwot and Arvada; <br />Differential advantages of Downtown Louisville. <br />P.U.M.A. will undertake primary research and compile secondary data to develop the <br />economic profile. Survey techniques for primary markets will include: <br />Compilation of existing economic data, including census and State of Colorado <br />Department of Labor demographics, real estate pricing and trends, regional permit <br />activity, zip code records from local sales (if available), etc. Support from the <br />Steering Committee will be sought to access existing studies and market information. <br />Development of primary research to develop data and benchmarks specific to <br />Downtown Louisville, including: <br />o Up to 4 focus groups with stakeholders from each segment of Downtown, <br />including retail, service, office and residents. <br />o One -on -one meetings and on -site visits with key business and property <br />owners and civic leaders. <br />o Site evaluation of up to 5 competitive business districts. <br />Evaluation of the development climate within the City of Louisville, including <br />regulatory issues and any other barriers that may or may not restrict new investment. <br />The economic profile will be presented in a report format that includes a summary <br />of the findings from primary and secondary research, surveys and focus groups, and the <br />identification of sustainable niche opportunities for Downtown Louisville. <br />Step 2: Niche Marketing Strategy (L e. maket driven "vision') <br />Building from the work completed in Step 1, and respecting market dynamics <br />revealed by the economic profile, a niche marketing strategy will be developed for <br />Downtown Louisville. Building upon the inherent strengths of Downtown, the niche strategy <br />Page 2 of 3 <br />