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WHEREAS, the Developer has submitted an executed Development Agreement <br />relating to the Orono Woods Apartments between City of Orono, Orono Housing and <br />Redevelopment Authority (hereinafter "HRA"). and Orono Senior Housing I.I.C for the City <br />Council's consideration and final execution, which agreement sets forth the terms and conditions for <br />the development of Senior Housing on Lot 2, including acquisition of the land by the HRA. ground <br />lease to the Developer. Tax Increment Financing and issuance by the City of Multifamily Senior <br />Housing Revenue Bonds; and <br />WHEREAS, the Developer has submitted executcnl Planned Unit Development <br />Agreements 2A and 2B providing for the installation of certain improvements as a condition of site <br />plan approval for the construction of an Oftice Building on Lot I and a Senior I lousing Building on <br />Lot 2 respectively, and which agreements document the general and detailed conditions for use and <br />development of Uie property; and <br />WHEREAS, the Developer has submitted an executed Road. Drainage and Utility <br />casement over the portions of driveways in Lots I and 2 that provide potential future frontage road <br />connectiirns between Brown Road. Wayzata Boulevard, and properties to the west; and <br />WHEREAS, the Developer has completed all other requirements of the platting <br />regulations of the City including: <br />1. <br />2. <br />Completion of all platting requirements of Prcliminarv' Plat Resolution No. <br />Dedication on the plat of Drainage and Utility Losements. including dedication of a <br />utility easement to allow for replacement of the existing municipal sewer line which <br />must be relocated outside of the MnDOT right-of-way and onto Lot 2. <br />Submittal of Minnehaha Creek Watershed District (MCWD) permit (No. <br />approving the grading and stormwater management facilities plan for Lots 1 and 2 <br />per the Grading, Drainage and Erosion Control Plan. Sheet C3-I dated 816 01. <br />Submittal of the necessary NfnDOT approval for the right-in, right-out access to <br />Wayzata Boulevard, and confirmation that the MnDOT stormwater pond located <br />southeast of Lot 2 has the capacity to accommodate the proposed drainage from <br />development on Lots 1 and 2.. <br />Page 2 of 7