2001 - Orono Senior Housing L.L.C.- PUD #2B agreement

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sewer connection fees,and pail(dedication fees.Certain additional costs to be incurred by the City in direct relation to the Senior Housing Building component are eligible for TIF reimbursement,such costs including but not necessarily limited to sidewalk expansion and replacement, public street lighting,burial of existing ova{head power lines,installation of semaphore and related improvements at Brown Road North and J-1ighway 12, 'and re-striping and/or widening of Highway 12 to accommodate the south accesi point;and WHEREAS, the City of Orono has adopted a development program and tax increment financing plan to finance a portion of the development costs for the Senior Housing component of the development;and WHEREAS, the City of Orono has created and established a Tax Increment Financing District(the "TIF District")pursuant to the authority granted by Minnesota Statutes;and WHEREAS, on Marsh 12, 2001 the City Council granted Concept Plan Approval for development of a 62-unit building for senior housing use (the "Senior Housing Building") and a 25,000 s.f.general office building(the"Office Building")per Resolution No.4619,on the condition Development(PUD)ordinances,to provide for the installation and maintenance of improvements, and to establish and document the conditions of approval for the Tax Increment Financing(TIF) associated with the developm*nt. . . • . . conditions hereinafter contai ed,it is hereby agreed as follows: A. General 'Terms and Conjditions - •roverty rescrintiog. s P armed Unit Development No- 2B AgreementTor rlrono Woods Apartments applies to the following described property located in Hennepin County, Minnesota: Lot 2,Block 1,Orono Ambnr. 2. loins.The property is zoned as a Planned Unit Development under the Orono planned unit -- - dcv •t.a . • .'.. . .i . .• - i. - - -"•• _ - - . . ..on Lot 2. Developer Initial City Clerk Initial p,�J Page 2 of 17