Laserfiche WebLink
- - <br /> ' .: . <br /> Draft 5/1/01 84) <br /> CITY OF ORONO 4 <br /> 9p <br /> HENNEPINT <br /> COUNTY,MINESOTA <br /> PLANNED UNIT DEVELOPMENT NO. 2 AGREEMENT FOR <br /> (Name of Development) <br /> Orono Ambar, LLC., a Minnesota Corporation <br /> (Name of Developer) <br /> THIS AGREEMENT,made and entered into this day of , 2001,by and <br /> between the City of Orono, a municipal corporation organized and existing under the laws of the <br /> State of Minnesota(hereinafter called "City"), and Orono Ambar, LLC, a Minnesota Corporation, <br /> its heirs, successors and assigns (hereinafter called "Developer"). <br /> WITNESSETH: <br /> WHEREAS, the Developer has made application to the City Council for approval of a <br /> Planned Unit Development rezoning application(PUD)including a comprehensive plan amendment, <br /> subdivision to create two buildable lots, and commercial site plan review, for the purpose of <br /> developing a 62-unit Senior Housing residential building and a 25,000 s.£ Professional Office <br /> building; and <br /> WHEREAS,the Senior Housing component of the development meets the goals established <br /> by the City of Orono for provision of lifecycle and affordable housing for residents 62 years of age <br /> and older; 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 /> Page 1 of 16 <br />