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Pinal Partnership asks the BIG questions
Doris Fightmaster
Wednesday, March 4, 2009
Maricopa’s own Edward Farrell asked the tough questions at the February Pinal Partnership Breakfast held in Gold Canyon. The February 13th event invitation had this statement: “Please join us for a rousing discussion to see if there is any lemonade to make in this bitter-sweet economy.”
The expert panel consisted of Michael Martindale (Real Estate), Tim O’Neil (Evergreen Development), Harold Christ (Paladin and Windmill -- Gold Canyon Ranch), Stacy Brimhall (Langley Properties), Brian Frakes (WDP Partners), Larry Rains (Casa Grande Assistant City Manager), and Eric Montaque (Marana Finance Director).
The first questions concerned the high number of foreclosure homes on the market. The answer was that the prices are so low on the foreclosed housing, they will all be bought up by the end of the year, and then new homes will start selling again, according to Michael Martindale. When asked what is actually working in the markets, the answer was a little surprising as Harold Christ talked about going through four economic rough cycles already. He added that the key to survival is to work on relationships and maintain relationships – with your banker, engineers, anyone involved in your business.
Brian Franks was asked about the low in retail sales and said that Wal-Mart is performing well and existing shopping centers should be doing creative things to get the shopper out again. He added that rooftops bring more retail, so as one grows, the other one will, too. Tim O’Neil answered the question about how to get the commercial and retail to come back. He stated that better communication is important as we listen and bring in the right retail. He added, to re-visit impact fees, protect the integrity of development agreements and get into the green initiative as well as alternative energy through technology.
Eric Montague was asked about employees’ situation at this time. He said to start by hiring highly skilled employees and do face-to-face with them often, as the world has changed. Many employees are under duress at this time because of the negative media. Employees need to come up with creative solutions. Larry Rains was asked how Casa Grande was prepared for their growth. He said that the population has doubled in Casa Grande since 2000. Also, as he manages people, he wants strong and simple solutions so they could be fiscally responsible. They increased the level of customer service and with the guidance of their elected officials they put in the capital expenses with attractive retail.
Each panel member was asked about what is most important to do right now. Here are some of the highlights:
? Don’t follow the herd – be creative.
? Look backward, to your local schools and basic infrastructure, and build from that.
? Work on what you own. Work with tenants, to help them be successful.
? Look at the location of homes – near interstate, rail, and airports. Are they close to work hubs?
? Work on your partnerships – public to public, private, City.
? And, last but not least, work on the recovery together.
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