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RcvbctI Draft 7/Ji/OI <br />Revbccl Draft 9/27/01 V <br />CITY OF ORONO <br />HENNEPIN COl NTY. MINESOTA <br />PLANNED I'NIT DEVELOPMENT NO. 2A AGREEMENT FOR <br />ORQNO AMBAR OFFICE BI'ILDING <br />(Name of Dc^ clopmcnl) <br />ORQNO AMBAR. LLC.. A MINNESOTA CORPORATION <br />(Name of Developer) <br />THIS ACJ REEMENT. made and entered into this___day of____. 2001 . by and between <br />the City of Orono. a municipal corporation organized and existing under the law s of the State of <br />Minnesota thcrcinallcr called "City"), and Orono /\mbar. LLC, a Minnesota Corporation, its heirs, <br />successors and assigns (hcreinaOer 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 builduble lots, and commercial site plan review, for the purpose of <br />developing a 62-unit Senior Housing residential building and a 25,000 s.f. Professional OlTicc <br />building: and <br />WHEREAS, on March 12. 2001 the Cit>- 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 olTice building (the "OITice Building") per Resolution No. 461 9. on the condition <br />that the Developer enter Into this agreement to provide for confomiance with the City’s Planned Unit <br />Development (PUD) ordinances, to provide for the installation and maintenance of impro\ements. <br />and to establish and document the conditions of approval for the Tax Increment Financing (TIF) <br />associated with the Senior Housing element of the development. <br />Page I of 14