LEHI CITY POSITION OPENING

Economic Development/Redevelopment Coordinator

• CLOSING DATE: September 6, 2007
• SALARY RANGE: $49,000-$72,000 annually, plus excellent benefits
• STATUS: Appointed, Full Time
• DEPARTMENT: Administration
• JOB SUMMARY:
  • Under the general supervision of the City Administrator, performs a variety of professional, administrative and technical duties related to planning, organizing, directing and coordinating city-wide economic development.
  • Develops the city's economic base, including business retention and the building of commercial, industrial and retail sites within the community.
  • Administers the city's redevelopment programs and initiatives and coordinates the purchase of real property.
• MINIMUM REQUIREMENTS:
  • Bachelor's degree from an accredited college or university in public management, business management, finance, planning or closely related field.
  • Five (5) years of progressively responsible experience in economic development/redevelopment or related duties.
  • Valid Utah driver's license required.
  • Must pass drug test and background check before hire.
• NOTE: A complete list of essential functions and minimum requirements of the position may be obtained from Lehi City Human Resources. Lehi City will provide reasonable accommodations for any applicant during the examination and selection process. If you have special needs, please call 801- 768-7100, ext. 2265. For required City application, contact Lehi City Human Resources, 153 North 100 East , Lehi, UT 84043 or download application and job description at www.lehicity.com. Lehi City is an equal opportunity employer and does not discriminate on the basis of race, color, national origin, gender, religion, age or disability.

• FOMC Meeting
• For the ninth straight meeting the FOMC held their target federal funds rate steady at 5.25%. Although the committee noted threats to growth, the statement said that "the economy seems likely to continue to expand at a moderate pace over coming quarters," indicating growth a bit below potential in the near term. The statement noted lower inflation, but the FOMC would like to see a more sustained slowing; inflationary pressures in resource markets remain a worry. Inflation remains the FOMC's predominant concern, although the statement did say that "the downside risks to growth have increased somewhat." The decision to hold the fed funds rate steady was unanimous.

• Commodities Surge will Increase Cost of Food
• Consumers are facing higher food prices as the cost of agricultural commodities surges on what the industry describes as a "perfect storm" of tight supplies and robust demand. The bulk of the price increases are the result of rising demand from newly industrialized countries such as China, which are consuming more high-protein foodstuffs such as meat and dairy products, and tight supplies after crops were hit by adverse weather in Australia, the Black Sea basin and Europe. The biofuel industry's growing cereal consumption is also pushing up prices.

• Productivity and Costs
• Nonfarm business productivity growth bounced back in the second quarter, coming in at 1.8% (SAAR), up from 0.7% in the first quarter. However, this was below consensus. Despite the rebound, productivity growth has slowed in recent quarters, and is up just 0.6% over the past year. Nonfarm unit labor costs grew an annualized 2.1% in the second quarter, above consensus. Inflationary pressures from the labor market remain a concern.

• Consumer Credit (G19)
• Consumer credit increased in June by $13.2 billion to $2.459 trillion, falling short of May's revised gain of $16 billion. The details of the report showed that growth in both revolving and non-revolving credit is still strong, advancing 8.4% and 5.3%, respectively, over the month.

• Job Openings and Labor Turnover Survey
• In June the job openings rate increased slightly, to 3.0%, but the hire rate fell by 20 basis points to 3.4%. This suggests that the tight labor market could be constraining hiring activity. The separation rate was unchanged at 3.3%. The economy created 4.75 million jobs, while 4.51 million workers left their jobs for whatever reason.

• MBA Mortgage Applications Survey
• The Mortgage Bankers Association's mortgage applications index increased 8.1% in the week ending August 3, bolstered by gains in both purchase (7.4%) and refi (9.1%) indexes. Given recent events in the mortgage industry, however, this increase does not reflect strengthening demand for housing.

• Chain Store Sales
• Chain store sales remain choppy, consistent with mixed underlying drivers. Sales fell 0.3% in the week ending August 4. This was its largest week-to-week decline since late June. Year-over-year growth declined only slightly, to 3.1%. Summer clearance and sales-tax holidays reportedly supported back-to- school demand.

• Oil and Gas Inventories
• Crude oil inventories sharply fell by 4.1 million barrels for the week ending August 3, according to the Energy Information Administration, below expectations of a modest dip. Gasoline inventories fell by 1.7 million barrels, below expectations. Refinery activity dropped sharply by 2.3 percentage points. Distillate supplies rose by 1 million barrels, short of expectations. This report is bullish.

• Wholesale Trade (MWTR)
• Wholesale inventories rose 0.5% in June. May inventories were not revised from the estimated 0.5% increase. Sales slowed down in June, increasing by 0.6% over the prior month as compared to May's 1.3% uptick. The inventory-to-sales ratio was unchanged at 1.11 in June.

Source: Economy.com, The Financial Times

• Ben & Jerry's Ice Cream
• Ben & Jerry's Franchising trades as Ben & Jerry's Ice Cream at 650 locations nationwide and internationally.
• The ice cream shops occupy spaces of 150 sq.ft. to 1,200 sq.ft. in malls, entertainment, lifestyle, power and tourist centers, in addition to urban/downtown areas.
• Growth opportunities are sought nationwide and internationally during the coming 18 months.
• Typical leases run 10 years.
• Mail site submittals to:
  • TJ Nelson,
  • Ben & Jerry's Franchising,
  • 30 Community Drive,
  • South Burlington, VT 05043;
  • Web site: www.benjerry.com.

• Basketball City
• Basketball City, a two-unit chain, operates locations in MA and NY.
• The gyms, featuring basketball courts, equipment rentals, weight rooms, sports lounge and volleyball courts for use in league play and community outreach events, occupy spaces of 40,000 sq.ft. in downtown/urban locations.
• Plans call for two to four openings in major markets nationwide and in Canada during the coming 18 months.
• Typical leases run 15 years.
• A vanilla shell is required.
• The company has a land- area requirement of two to three acres.
• Mail site submittals to:
  • Bruce Radler,
  • Basketball City,
  • 3100 47th Avenue,
  • Long Island City,
  • NY 11101;
  • Web site: www.basketballcity.com

• Go Wireless
• Go Wireless, a 101-unit chain, operates locations throughout AZ, CA, NV, OR, TX and WA.
• The electronics stores occupy spaces of 800 sq.ft. to 2,000sq.ft. in malls and endcaps of strip malls.
• Plans call for 100 openings throughout the existing markets during the coming 18 months, with representation by Lee & Associates Commercial Real Estate Services, Inc.
• Preferred sites have high traffic counts and major anchors.
• Typical leases run five years with two, five-year options.
• Preferred cotenants include Costco, Target and Wal*Mart.
• Mail site submittals to:
  • Brian Bielatowicz,
  • Lee & Associates Commercial Real Estate Services, Inc.,
  • 25240 Hancock Avenue, Suite 100,
  • Murrieta, CA 92562;
  • Web site: www.gowireless.net