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IP Develop Retail Strategy

Economic Development 

Time Status:

Budget Status:

Percent Complete: 33%

Start Date: 10/01/2019

End Date: 09/30/2020

The City has a significant amount of retail leakage. To alleviate this issue, the EDO is developing a retail recruitment strategy. Staff is working with Retail Strategies to identify retail gaps and potential opportunities to fill those gaps. Finding the right retail mix and density is essential for a community seeking to create a sense of place for residents, businesses and visitors.

The Mall, Village Square and Cornerstone were moving along until the COVID-19 crisis hit. Businesses have begun to reopen, but the capacity is impacting them. Leakage to other counties (Palm Beach) continues as well as it doesn't have the same mask requirements. Retail and restaurants are closing all around the City. Our strategy is going to need to be reevaluated.

Kristi spoke with Sarah Beth Thornton at Retail Strategies and received a proposal for the company to due retail recruitment starting on October 1, 2020. The proposed amount is $35K and we can utilize existing funding. It is included in the 2021 Business Plan.

Operating Budget:
Capital Budget:
Legend:  
Initiatives: On Target Closed Out/Completed | IP On Target/In Progress | Below Plan Behind Schedule/Late | DN Discussion NeededR/W Retreat/Workshop Item | D Delay/Hold | N No Milestone | Not Defined Not Defined
Legend:  
Initiatives: On Target Closed Out/Completed | IP On Target/In Progress | Below Plan Behind Schedule/Late | DN Discussion Needed | R/W Retreat/Workshop Item | D Delay/Hold | N No Milestone | Not Defined Not Defined

City of Coral Springs | 9500 West Sample Road, Coral Springs, FL 33065 | 954-344-1000