Laserfiche WebLink
<br />REQUEST FOR <br />COUNCIL ACTION <br /> <br />~ <br />;:~~~ <br />y '\!..:,. <br /> <br />CITY COUNCIL MEETING DATE: <br /> <br />CLERK OF COUNCIL USE ONLY: <br /> <br />JUNE 20, 2005 <br />TITLE: <br /> <br />RESOLUTION AUTHORIZING A <br />NEIGHBORHOOD MARKET ANALYSIS <br />BY SOCIAL COMPACT <br /> <br />APPROVED <br /> <br />o As Recommended <br />o As Amended <br />o Ordinance on 151 Reading <br />o Ordinance on 2nd Reading <br />o Implementing Resolution <br />o Set Public Hearing For <br /> <br />(I //) <br />/ /",J"l . <br />t-/72t-,L /' .I ((;-~(~~ - <br />CITY MANAGER <br /> <br />CONTINUED TO <br /> <br />c( <br /> <br />FILE NUMBER <br /> <br />RECOMMENDED ACTION <br /> <br />Adopt a resolution authorizing the preparation of a Santa Ana <br />Neighborhood Market Drilldown analysis by Social Compact. <br /> <br />COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION RECOMMENDATION <br /> <br />Recommended that <br />preparation of a <br />Social Compact. <br /> <br />the Ci ty Council adopt a resolution authorizing the <br />Santa Ana Neighborhood Market Drilldown analysis by <br /> <br />By a vote of 5:0 <br />Meeting of June 7, <br /> <br />(Robles, <br />2005. <br /> <br />Sarmiento <br /> <br />absent) <br /> <br />at <br /> <br />its <br /> <br />Regular <br /> <br />DISCUSSION <br /> <br />The Neighborhood Market Drilldown is a pioneering market analysis model <br />that reveals the hidden strengths of traditionally undervalued <br />communities. The Drilldown analysis concept was developed as a response <br />to traditional market analysis, which systematically shortchanges urban <br />markets. Social Compact works to develop urban market analysis models <br />that measure the three core market drivers including: a) size/growth, <br />population change, households and daytime population; b) buying power <br />(especially cash economy), i. e. aggregate household income, households <br />without banking relationship; and c) risk and stability. <br /> <br />Social Compact has studied Chicago, Cleveland, Houston, Harlem, and <br />Washington D.C. and has found that these markets are: a) much larger; b) <br />changing faster; c) with substantially different land valuations; d) much <br />safer than perceived; e) have a stronger base of stakeholders; and f) <br />have greater buying power than expected driven by a substantial cash <br />economy. When considering where to perform a market analysis, Social <br />Compact's criteria includes: a) markets poised for change, l.e. <br /> <br />550-1 <br />