Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Commission hears pitch from Retail Strategies and staff recommends $40,000 renewal
Summary
City staff recommended a one-year, $40,000 renewal with Retail Strategies for retail recruitment. Consultant Garrett Smitherman cited two local successes (Panera, Slim Chickens) and said the work produces confidential activity reports; commissioners asked for metrics and questioned use of flat fee vs. commission.
City staff asked commissioners to renew a one-year agreement with Retail Strategies for market research and retail recruitment, with a recommended fiscal impact of $40,000.
Garrett Smitherman, joining virtually, described the firm's work over the contract period, highlighting two openings on U.S. 27's corridor (Panera Bread and Slim Chickens) as evidence of recruitment wins. Smitherman said the firm is actively pursuing nearly a dozen additional brands across categories — from soft goods to full-service restaurants — and described the work as a combination of market research, property outreach and relationship-building with tenant reps and corporate real-estate teams.
On value and metrics: commissioners asked whether Retail Strategies coordinates with the Lake Wales Chamber of Commerce and whether the city can verify return on investment. Smitherman said the firm has been in contact with the Chamber and that staff receive confidential activity reports showing outreach and market interest; staff said those reports are available for review but are kept confidential because of negotiations with specific brands. Commissioners also questioned whether the city should pay a flat fee or move to a commission model; staff and the consultant explained that many commercial-recruitment processes are lengthy and not conducive to a pure commission-based structure.
Financials and recommendation: staff confirmed the $40,000 cost for the one-year renewal and recommended approval, noting the contract can be re-evaluated after the term. Commissioners requested that staff track outcomes and keep the commission apprised of activity reports.
Ending: After questions, the commission moved forward with the item in the consent/recommendation phase; staff said the item would proceed as recommended.
