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acquisition,road/curb/gutter and storm sewer improvements,grading and related site improvements, <br /> sewer connection fees, and park dedication fees. Certain additional costs to be incurred by the City <br /> in direct relation to the Senior Housing Building component are eligible for TIF reimbursement,such <br /> costs including but not necessarily limited to sidewalk expansion and replacement, public street <br /> lighting,burial of existing overhead power lines,installation of semaphore and related improvements <br /> at Brown Road North and Highway 12, and re-striping and/or widening of Highway 12 to <br /> accommodate the south access point; and <br /> WHEREAS, the City of Orono has adopted a development program and tax increment <br /> financing plan to finance a portion of the development costs for the Senior Housing component of <br /> the development; and <br /> WHEREAS, the City of Orono has created and established a Tax Increment Financing <br /> District (the "TIF District") pursuant to the authority granted by Minnesota Statutes; and <br /> WHEREAS, on March 12, 2001 the City Council granted Concept Plan Approval for <br /> development of a 62-unit building for senior housing use (the "Senior Housing Building") and a <br /> 25,000 s.f.general office building(the"Office Building")per Resolution No.4619,on the condition <br /> that the Developer enter into this agreement to provide for conformance with the City's Planned Unit <br /> Development(PUD)ordinances,to provide for the installation and maintenance of improvements, <br /> and to establish and document the conditions of approval for the Tax Increment Financing (TIF) <br /> associated with the development. <br /> NOW, THEREFORE, in consideration of the premises, and of the actual promises and <br /> conditions hereinafter contained, it is hereby agreed as follows: <br /> A. General Terms and Conditions <br /> 1. Property Description. This Planned Unit Development No. 2B Agreement for Orono <br /> Woods Apartments applies to the following described property located in Hennepin County, <br /> Minnesota: <br /> Lot 2, Block 1, Orono Ambar. <br /> 2. Zoning.The property is zoned as a Planned Unit Development under the Orono planned unit <br /> development ordinance with underlying RPUD zoning for the Senior Housing component <br /> on Lot 2. <br /> Developer Initial - <br /> City Clerk Initial <br /> Page 2 of 17 <br />