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Moorhead EDA endorses exploring updated downtown market study
Summary
EDA commissioners agreed that staff should investigate costs and scope for an updated downtown market analysis — the current market study dates to 2020 — and consider expanding the scope to targeted corridors and potential inclusion in the Makara real estate services RFP.
The Moorhead Economic Development Authority directed city staff to explore an updated market analysis for the downtown core and possible targeted areas, citing the last formal study was completed in 2020 and that market conditions have changed since the COVID‑19 pandemic.
Staff said the 2020 market study was done as part of the downtown master plan and is now nearly five years old. Derek (city staff member) and Amy Thorpe said they will explore the marketplace for timing and cost and return to the EDA with proposals and budgets. The board offered location suggestions for the updated study, including the area around the existing library and the corridor near the high school and the 11th Street underpass.
Councilmember Deb White said she would include the area around the current library and the area affected by the 2021 underpass as priorities for the updated analysis, noting those are likely growth areas. Several commissioners also suggested the East 10th / Eighth & 94 corridor and Makara as potential study areas.
Board members discussed whether the selected development services firm for the Makara real estate RFP could provide a market study as part of its services; staff said that could be explored as an amendment to the RFP scope. Commissioners expressed general support and provided what staff described as head nods to proceed with cost and scope research; no spending decision or contract was approved at the meeting.
Ending: Staff will return with cost and scope options for an updated market analysis and potential expanded geography for the EDA to consider in a future meeting.
