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HomeMy WebLinkAbout5B Gateway Redevelopment 4646 Dakota Street SE Prior Lake, MN 55372 CITY COUNCIL AGENDA REPORT MEETING DATE: FEBRUARY 8, 2016 AGENDA #: 5B PREPARED BY: PRESENTED BY: DAN ROGNESS, COMMUNITY & ECONOMIC DEVELOPMENT DIRECTOR DAN ROGNESS AGENDA ITEM: CONSIDER APPROVAL OF A RESOLUTION APPROVING AN AMENDMENT TO THE CONTRACT FOR DEVELOPMENT OF LAND AS A PLANNED UNIT DEVELOPMENT (GATEWAY REDEVELOPMENT) DISCUSSION: Introduction The purpose of this agenda item is to consider an amendment to the Develop- ment Contract for the Dominium PUD project consisting of 168 senior rental units on a 2.54-acre site located easterly of Trunk Highway 13 on Gateway Street and Jordan Avenue. The amendment relates primarily the number and mix of housing units, the project start date, an assignment approval, and the re- cording timeline. The final development project will be owned by Prior Lake Leased Housing Associates I, LLLP. History On April 13, 2015, the City Council approved Resolution 15-070 approving the Final PUD Plan and corresponding Development Contract. On July 13, 2015, the City Council approved a PUD Contract specifying details of the project, as well as fees associated with park dedication and connection charges. At that time, the project was designed to be 170 units with a certain bedroom size mix, and the project was going to start in 2015. Current Circumstances The project was not able to start in 2015, so certain PUD Contract amendments are necessary at this time. One housekeeping amendment relates to changing “DEVELOPMENT PROPERTY” TO “PROPERTY” as defined in Section 4.1. Other proposed amendments include: 1. Section 3.2. The Met Council granted approval for the amended Com- prehensive Plan, so that is no longer necessary as a reference. 2. Sections 5.1 and 5.3. The 4-story, 170-unit senior rental apartment building will now include 168 units, going from 115 to 112 1-bedroom units, 23 to 21 2-bedroom units, and 32 to 35 3-bedroom units. All units will remain affordable to households at/below 60% of area median household income. 3. Section 5.2. The project will now start in 2016 rather than 2015. 4. Sections 8.3 and 8.5. This additional language is reasonable based upon obligations that relate to the payment of money by the developer, and the mortgagee identified as allowable to cure any default. 2 5. Section 10.1. The DEVELOPER (Prior Lake Leased Housing Associ- ates I, LLLP) proposes to transfer interests to one of two Wells Fargo fi- nancing entities as part of their approved financing structure using Hous- ing Tax Credits (HTC). Since these entity names are longstanding and well known, the City Council would allow such transfers in this agree- ment. Any other assignments, etc. would need to be approved in writing by the City Council. 6. Section 12.1. The final plans were approved on April 13, 2015, so the 90 days to record the PUD Contract will now change to 90 days from the date the City Council approves this contract on February 8, 2016. Conclusion Dominium intends to start construction of their housing project early in 2016 with a 15-month completion schedule. All business tenants have now fully va- cated the Gateway commercial center. ISSUES: The proposed amendments summarized above are not substantive changes to the previously approved PUD Contract. Previously, the City Council had taken the position that no transfer of ownership would be allowed without written council approval. The new provision generally requires written city council approval unless the transferee is one of two Wells Fargo Financing entities. The staff and city attorney’s office believe that the city is protected with the new language, since its original purpose was to assure that any new owner be financially stable, reliable and of good repute. ALTERNATIVES: 1. Motion and a second to approve a resolution approving amendments to the Contract for Development of Land as a Planned Unit Development (Gateway Redevelopment). 2. Motion and a second to deny a resolution amending the Contract for De- velopment of Land as a PUD (Gateway Redevelopment). 3. Motion and a second to table action and ask City staff to provide addi- tional information as requested by the Council. RECOMMENDED MOTION: Alternative #1 ATTACHMENTS: 1. Amended PUD Contract (marked-up version) 2. Amended PUD Contract (clean version) 3. City Council Resolution 15-070 RESOLUTION 16-XX A RESOLUTION AMENDING THE CONTRACT FOR DEVELOPMENT OF LAND AS A PLANNED UNIT DEVELOPMENT (GATEWAY REDEVELOPMENT) Motion By: Second By: WHEREAS, The Prior Lake Planning Commission conducted a public hearing on April 6, 2015 to consider an application from Dominium, or Prior Lake Leased Housing Associated I, LLLP (the “Developer”) for a Final Planned Unit Development (PUD) Plan for Gateway Redevelopment, consisting of a 170-unit senior rental housing development; and WHEREAS, WHEREAS, The Prior Lake City Council approved Resolution 15-070 approving an application from Dominium for a Final PUD Plan of Gateway Redevelopment on April 13, 2015, and considered it to be in substantial compliance with the approved Preliminary PUD Plan for Gateway Redevelopment as approved by the City Council on March 9, 2015; and Resolution 15-070 also approved a corresponding Contract for Development of Land as a Planned Unit Development known as Gateway Redevelopment with the Developer; and WHEREAS, The Developer and City staff are proposing further amendments to the PUD Contract for Development related primarily to the number and mix of housing units, the project start date, an assignment approval, and the recording timeline. NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA as follows: 1. The recitals set forth above are incorporated herein. 2. The Mayor and City Manager are authorized to execute the Amended and Restated Contract for Development of Land as a Planned Unit Development in Prior Lake, Minnesota (Gateway Redevelopment) with Prior Lake Leased Housing Associates I, LLLP, subject to final approval by the City Attorney. PASSED AND ADOPTED THIS 8th DAY OF FEBRUARY, 2016. VOTE Hedberg Keeney McGuire Morton Thompson Aye ☐ ☐ ☐ ☐ ☐ Nay ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ ______________________________ Frank Boyles, City Manager CONTRACT FOR DEVELOPMENT OF LAND AS A PLANNED UNIT DEVELOPMENT IN THE CITY OF PRIOR LAKE, MINNESOTA, TO BE KNOWN AS GATEWAY REDEVELOPMENT AMENDED AND RESTATED THIS CONTRACT, made and entered into as of the 8th day of February, 2016 13th day of July, 2015, by and between the City of Prior Lake, (hereinafter “CITY”) a municipal corporation organized under the laws of the State of Minnesota and Prior Lake Leased Housing Associates I, LLLP a Minnesota Limited Liability Limited Partnership (the “DEVELOPER”). RECITALS WHEREAS, DEVELOPER is duly organized to do business in the State of Minnesota and owns, or will own the PROPERTY within the City of Prior Lake; Scott County, Minnesota legally described in attached Exhibit A, subject to the CITY’s approval of an administrative lot subdivision per Subsection 1006.101 of the Prior Lake City Code that will add the westerly 27.0 feet of Lot 1, Block 1, Gateway Center 1st Addition to Lot 2, Block 1, Gateway Center 1st Addition, Prior Lake, Scott County, Minnesota, and WHEREAS, DEVELOPER desires to develop the PROPERTY legally described and depicted in Exhibit A; and WHEREAS, the City approved a Preliminary Planned Unit Development Plan per Resolution 15-142 on March 9, 2015 for the DEVELOPMENT PROPERTY, which approval is subject to the City’s approval of the Final Planned Unit Development Plans and certain conditions including the Developer enter into the City’s standard development contract; and WHEREAS, DEVELOPER has made application to City Council for approval to develop the DEVELOPMENT PROPERTY as a Planned Unit Development (a “PUD”) per the Final PUD Plans for Gateway Redevelopment; and WHEREAS, under authority granted pursuant to Minnesota Statutes Chapter 462 and the Zoning Ordinance of the City of Prior Lake the CITY COUNCIL has agreed subject to the terms and conditions set forth herein, to approve the Final Planned Unit Development Plans (the “FINAL PLANS”). NOW, THEREFORE, in consideration of the mutual promises, covenants and conditions contained herein, the sufficiency of which is not disputed, it is hereby agreed as follows: 1. RECITALS The Recitals set forth above are herein incorporated as if fully set forth. 2. PURPOSE OF CONTRACT 2.1 The purpose of this Contract is to set out the terms and conditions pursuant to which the City Council of the City of Prior Lake grants its approval for the DEVELOPER to develop the DEVELOPMENT PROPERTY as a PUD. The terms and conditions set forth herein are intended to promote and protect the orderly development of land within the City and to assure that the development of the DEVELOPMENT PROPERTY is done in a manner to protect and preserve the health, safety and welfare of the citizens and property within the City. 2.2 This CONTRACT is intended to achieve the following objectives: a) To insure compliance with the purpose, requirements and criteria set forth in Section 1106 in the Zoning Ordinance for a Planned Unit Development. b) To clarify the rights and responsibilities of the parties to this CONTRACT. c) To incorporate, as an integral part of this CONTRACT by and between the CITY and DEVELOPER relating to the FINAL PLANS of Gateway Redevelopment. 3. FINDINGS 3.1 The Prior Lake Zoning Ordinance sets out goals and objects objectives against which all applications for Planned Unit Developments must be evaluated against. The FINAL PLANS are consistent with the goals and objectives of a Planned Unit Development as specified in Section 1106 of the Zoning Ordinance. 3.2 The CITY has approved a 2030 Comprehensive Land Use Plan amendment for the PROPERTY from Community Retail Shopping (C-CC) to Residential Urban High Density (R-HD) per Resolution 15-141 on March 9, 2015, subject to approval by the Metropolitan Council. 3.3 The CITY has approved Ordinance No. 115-07 to rezone the PROPERTY from General Business (C-2) to Planned Unit Development (PUD), to be legally published upon formal approval of the Comprehensive Land Use Plan amendment by the Metropolitan Council. 4. DEFINITIONS, RULES OF INTERPRETATION, AND EXHIBITS 4.1 Definitions In this CONTRACT the following terms shall have the following respective meanings unless the context hereof clearly requires otherwise: 4.1.1 “CITY” means the City of Prior Lake, a governmental subdivision of the State of Minnesota. 4.1.2 “CITY ATTORNEY” means the City Attorney of the City of Prior Lake. 4.1.3 “CONTRACT” means this Contract for Development of Land as a Planned Unit Development in the City of Prior Lake, Minnesota, and all referenced and incorporated exhibits by and between CITY and DEVELOPER, as the same may be from time to time modified, amended or supplemented. 4.1.4 “DEVELOPER” means Prior Lake Leased Housing Associates I, LLLP, or heirs successors and assigns. 4.1.5 “DEVELOPER INSTALLED IMPROVEMENTS” means all those improvements listed in Exhibit D. 4.1.6 “FINAL PLANS” means the Final Planned Unit Development Plans approved by the Council attached as Exhibit B. 4.1.7 “INCLUDING” means including, but not limited to. 4.1.8 “PROJECT” means the development of Gateway Redevelopment pursuant to the terms and conditions of the approved FINAL PLANS and this CONTRACT. 4.1.9 “PROPERTY” means the real property, together with improvements, if any, described in Exhibit A. 4.2 Exhibits The following exhibits are attached hereto, incorporated by reference and made a part of this CONTRACT as if fully set forth herein. 4.2.1 Exhibit A - Legal Description of Development PROPERTY 4.2.2 Exhibit B - Approved Final Planned Unit Development Plans stamped March 31, 2015. 4.2.3 Exhibit C - City Council Resolution 15-70 approving the Final Planned Unit Development Plans and the CONTRACT for the development of land as a Planned Unit Development 4.2.4 Exhibit D – Developer Installed Improvements 5. SCOPE OF PROJECT 5.1 The PROJECT to be known as Gateway Redevelopment consists of 2.54 acres, legally described as shown on Exhibit A. The PROJECT includes 170 168 senior rental housing units, associated off-street underground and surface parking, and interior common spaces. The total units include 115 112 1-bedroom, 23 21 2- bedroom and 32 35 3-bedroom units on four floors. The PROJECT shall be developed as shown on the FINAL PLANS attached hereto as Exhibit B. These plans include, but are not limited to site plans, landscaping plans, grading/utility plans and building elevations. 5.2 The PROJECT is to be developed in one phase, beginning in 2016 2015. 5.3 The DEVELOPER shall be responsible to pay the CITY cash in lieu of park land dedication an amount equal to $450,000. In comparison, the park dedication fee schedule for 2015 results in a total cash fee for the PROJECT of $630,000 $637,500 ($3,750/unit x 168 170 units). Based upon the City Council’s approval of Resolutions 15-042 (Preliminary PUD Plan) and 15-070 (Final PUD Plan), findings support significant community benefits as a result of this PROJECT. The CITY has determined that these significant community benefits justify the reduced fee. This fee shall be due and payable to the CITY at the time all other fees are paid by the DEVELOPER related to the issuance of a building permit(s). 5.4 The DEVELOPER shall be responsible to pay the CITY the following local permit connection charges according to the fee schedule for 2015 based upon the number of net SAC Units determined by the Metropolitan Council Environmental Services Division for the PROJECT: (a) Sewer Connection Charge = $600/unit; (b) Water Connection Charge = $900/unit; and (c) Water Tower Charge = $1,000/unit. These fees shall be due and payable to the CITY at the same time as the park dedication fee payment identified in Section 5.3 of this CONTRACT. 6. DEVELOPER REPRESENTATIONS 6.1 DEVELOPER represents and warrants that neither the execution and delivery of this CONTRACT, the consummation of the transactions contemplated hereby, nor the fulfillment or the compliance with the terms and conditions of this CONTRACT is prevented or limited by, or in conflict with or will result in breach of, the terms, conditions or provisions of any restriction of DEVELOPER, or evidence of indebtedness, contract or instrument of whatever nature to which DEVELOPER is now party or by which it is bound or will constitute a default under any of the foregoing. 6.2 DEVELOPER agrees to hold harmless, indemnify and defend CITY, its Council, agents, employees and CITY ATTORNEY against any claims or actions brought as a result of DEVELOPER’s performance under this CONTRACT or as a result of alleged actions or omissions on the part of DEVELOPER, its employees or agents. 7. RELEASE, HOLD HARMLESS AND INDEMNIFICATION 7.1 DEVELOPER releases from and covenants and agrees that CITY, its City Council, officers, agents, servants, attorneys and employees thereof (hereinafter for purposes of this paragraph, the “indemnified parties”) shall not be liable for and agrees to indemnify and hold harmless the indemnified parties against any loss, including but not limited to, any required relocation costs or expenses related to the PROJECT, or damage to PROPERTY or any injury to or death of any person occurring at or about or resulting from any defect in the PROPERTY, development of PROPERTY or DEVELOPER INSTALLED IMPROVEMENTS, excluding any damage or loss caused by the gross negligence or willful misconduct of the CITY. 8. EVENT OF DEFAULT 8.1 Event of Default Defined. Event of default is any one or more of the following events: 8.1.1 Failure by DEVELOPER to timely pay all real property taxes assessed with respect to the PROPERTY; 8.1.2 Failure to construct the DEVELOPER INSTALLED IMPROVEMENTS pursuant to the terms, conditions and limitations of this CONTRACT; 8.1.3 Failure by DEVELOPER to observe or perform any covenant, condition, obligation or contract on its part to be observed or performed under this CONTRACT; 8.1.4 Transfer of any interest in the development, subject to CITY approval; 8.1.5 Failure by DEVELOPER to reimburse CITY for any costs incurred by CITY in connection with this CONTRACT, including the enforcement thereof; including, but not limited to engineering fees, inspection and testing fees, attorney fees and other professional fees. 8.2 Remedy Upon Event of Default. Whenever an event of default occurs, the CITY, after providing DEVELOPER notice as provided in paragraph 15 13.1, may take any one or more of the following actions: 8.2.1 CITY may cancel and rescind this CONTRACT. 8.2.2 CITY may take whatever action, including legal or administrative action, which may be necessary or desirable to CITY to collect any payments due under this CONTRACT or to enforce performance and/or observance of any obligation, contract or covenant of DEVELOPER under this CONTRACT. 8.2.3 CITY may suspend issuance of Building Permits and/or Occupancy Permits to the DEVELOPER on the PROPERTY. 8.3 Whenever an Event of Default occurs and CITY shall employ attorneys or incur other expenses, including employment of experts, for the collection of payments due or to become due or for the enforcement or performance or observance of any obligation or contract on the part of DEVELOPER herein contained, DEVELOPER agrees that it shall, on demand thereof, pay to CITY the reasonable fees of such attorneys and such other expenses so incurred by CITY. All obligations of the DEVELOPER under this CONTRACT for the payment of money, including claims for indemnification and damages shall not be secured by or in any manner constitute a lien on the PROPERTY, and the CITY shall not have the right to enforce such obligations other than directly against the DEVELOPER pursuant to Section 8 of this CONTRACT. 8.4 Nonexclusive Remedy. None of the actions set forth in this Section are exclusive or otherwise limit the CITY in any manner. 8.5 Cure by Limited Partner or Mortgagee. The CITY agrees to accept a cure of any default hereunder by the DEVELOPER’S limited partner or mortgagee just the same as if the DEVELOPER had cured the default itself. 9. WAIVER Failure of the CITY at any time to require performance of any provision of this CONTRACT shall not affect its right to require full performance thereof at any time thereafter and the waiver by the CITY of a breach of any such provision shall not be taken or held to be a waiver of any subsequent breach thereof or as nullifying the effectiveness of such provision. 10. ASSIGNMENT 10.1 Except for any mortgages related to DEVELOPER’S financing of the DEVELOPMENT PROPERTY or any transfer of the PROPERTY by foreclosure or deed in lieu of foreclosure arising therefrom, DEVELOPER represents and agrees for itself, its heirs, its successors and assigns that DEVELOPER has not made or created and that it will not make or create or suffer to be made or created any total or partial sale, assignment, conveyance or any trust or power to transfer in any other mode or form of or with respect to this CONTRACT or in DEVELOPER without the prior written approval of the CITY; provided, however, that assignments, conveyances, or transfers of (i) limited partner interests in DEVELOPER or (ii) removal and replacement of the general partner to Wells Fargo Bank National Association or Wells Fargo Affordable Housing Community Development Corporation (or any entity 100% owned by any of the foregoing) are allowed without the prior written approval of the City. 10.2 The DEVELOPER may not transfer or assign this CONTRACT without the prior written permission of the CITY COUNCIL of the City of Prior Lake which consent shall not be unreasonably withheld. The DEVELOPER’S obligations hereunder shall continue in full force and effect, even if the DEVELOPER sells the PROPERTY or any part thereof. 11. PERMITS 11.1 The DEVELOPER shall obtain all necessary approvals, permits and licenses from the CITY, and any other regulatory agencies and the utility companies. If any of the entities request a change to the FINAL PLANS submitted for review, the DEVELOPER shall submit these changes to the CITY for approval. 11.2 All costs incurred to obtain said approvals, permits and licenses, and also all fines or penalties levied by any agency due to the failure of the DEVELOPER to obtain or comply with conditions of such approvals, permits and licenses, shall be paid by the DEVELOPER. 11.3 The DEVELOPER’s shall defend and hold the CITY harmless from any action initiated by the other regulatory agencies and the utility companies resulting from such failures of the DEVELOPER. 12. RECORDING 12.1 This CONTRACT shall be recorded by DEVELOPER within ninety (90) days from approval of the Resolution approving this CONTRACT the FINAL PLANS, and all terms and conditions of this CONTRACT shall run with the land herein described, and shall be binding upon the heirs, successors, administrators and assigns of the DEVELOPER. The DEVELOPER shall provide and execute any and all documents necessary to implement the recording. If there be more than one developer, references herein to DEVELOPER shall mean each and all of them. 12.2 All recording fees, if any, shall be paid by the DEVELOPER. 13. NOTICE 13.1 Required Notices to the DEVELOPER shall be in writing, and shall be either hand delivered to the DEVELOPER, its employees or agents, or mailed to the DEVELOPER by certified mail at the following address: c/o Dominium Development & Acquisition, LLC, 2905 Northwest Blvd., Suite 150, Plymouth, Minnesota 55441 with a copy to Wells Fargo Bank, National Association, Community Lending & Investment (AU 7490), 1300 SW Fifth Ave., 12 Floor, MAC P6101, Portland, OR 97201 and to Greystone Services Corporation, Inc., 419 Belle Air Lane, Warrenton, Virginia 20186, Attention: Greystone Customer Care Team, ad to Federal Home Loan Mortgage Corporation, 8100 Jones Branch Drive, MS B4P, McLean, Virginia 22102, Attention: Multifamily Operations – Loan Accounting, and to Federal Home Loan Mortgage Corporation, 8200 Jones Branch Drive, MS 210, McLean, Virginia 22102, Attention: Managing Associate General Counsel – Multifamily Legal Division. In addition, the CITY shall deliver any notices to the DEVELOPER’S limited partner so long as the DEVELOPER provides the appropriate contact information in writing to the CITY at the following address: Wells Fargo Affordable Housing Community Development Corporation MAC D1053-170, 301 South College Street, Charlotte, NC 28288-0173. Notices to the CITY shall be in writing and shall be either hand delivered to the City Manager, or mailed to the CITY by certified mail in care of the City Manager at the following address: City of Prior Lake, 4646 Dakota Street SE, Prior Lake, Minnesota 55372. Concurrent with providing Notice to the CITY, Notice(s) shall be served upon the CITY ATTORNEY Mark Johnson; Gregerson, Rosow, Johnson & Nilan LTD, 650 Third Avenue South, Minneapolis, Minnesota 55402. 13.2 The Notice shall state a time by which the default must be cured. The time the CITY gives the DEVELOPER shall be thirty (30) calendar days from the date of the certified mailing. 14. MODIFICATIONS OR AMENDMENT This CONTRACT may be amended by the parties hereto only by written instrument executed in accordance with the same procedures and formality followed for the execution of this CONTRACT. 15. PROOF OF TITLE Prior to CITY’s issuance of final signed building permits for the PROPERTY, the DEVELOPER shall furnish a signed vested deed demonstrating that the DEVELOPER fee has obtained the fee ownership of the PROPERTY. Notwithstanding the foregoing, the CITY will issue unsigned building permits and a “will-issue” letter listing any remaining conditions to issuance of the final signed building permits on or before the closing date for DEVELOPER’S acquisition of fee ownership of the PROPERTY, subject to the reasonable review and approval by the CITY of a complete application for a building permit submitted by the DEVELOPER. DEVELOPER agrees that in the event DEVELOPER’s ownership in the PROPERTY should change in any fashion, except for the normal process of selling or conveying lots, prior to the completion of the PROJECT and the fulfillment of the requirements of this CONTRACT, DEVELOPER shall forthwith notify the CITY of such change in ownership and seek the CITY’s approval to transfer the responsibility under this CONTRACT. Any change in ownership shall not release DEVELOPER from any of its obligations under this CONTRACT, unless or until the CITY has approved transfer of this CONTRACT and then only to the extent agreed to by the CITY. 16. HEADINGS Headings at the beginning of paragraphs herein are for convenience of reference, shall not be considered a part of the text of this CONTRACT and shall not influence its construction. 17. SEVERABILITY In the event any provisions of this CONTRACT shall be held invalid, illegal, or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision hereof, and the remaining provisions shall not in any way be affected or impaired thereby. 18. CONSTRUCTION This CONTRACT shall be construed in accordance with the laws of the State of Minnesota. IN WITNESS WHEREOF, CITY and DEVELOPER have caused this CONTRACT to be duly executed on the day and year first above written. Approved by the City Council on the ______ day of ___________, 2016. APPROVED AS TO FORM: by __________________________ Mark Johnson, City Attorney DEVELOPER: By___________________________ Its ___________________________ CITY OF PRIOR LAKE By:_____________________________ Its Manager By:______________________________ Its Mayor This Development Contract must be signed by all parties having an interest in the PROPERTY. STATE OF MINNESOTA COUNTY OF SCOTT On the ______ day of ________________, 2016, before me, a Notary Public, with and for said County personally appeared Kenneth L. Hedberg and Frank Boyles, to me personally known, being each by me duly sworn did say that they are the Mayor and City Manager, respectively, of the City of Prior Lake, a Minnesota municipal corporation, named in the foregoing instrument; and that said instrument was signed on behalf of the municipal corporation and acknowledged said instrument to be the free act and deed of said municipal corporation. _______________________________ Notary Public STATE OF MINNESOTA COUNTY OF SCOTT The foregoing instrument was acknowledged before me this ______ day of _________________, 2016 by________________ and by ____________________ who are the _____________and _______________ of ______________________, a Minnesota Limited Liability Limited Partnership, on behalf of said partnership. ________________________________ Notary Public STATE OF MINNESOTA COUNTY OF SCOTT The foregoing instrument was acknowledged before me this __________ day of ___________, 2016 by________________ and by ____________________ who are the _____________and _______________ of ______________________, a Minnesota _______________________, on behalf of said ________________. ________________________________ Notary Public This instrument prepared by: City of Prior Lake 4646 Dakota Street SE, Prior Lake, MN 55372 MORTGAGEE CONSENT TO DEVELOPMENT CONTRACT _______________________________________________________, which holds a mortgage on the subject property, the development of which is governed by the foregoing Development Contract, agrees that the Development Contract shall remain in full force and effect even if it forecloses on its mortgage. Dated this _____ day of _________________, 2016. ______________________________________ ______________________________________ STATE OF MINNESOTA ) ( ss. COUNTY OF __________ ) The foregoing instrument was acknowledged before me this _____ day of _________________, 2016, by ______________________________________________________________________________. ________________________________________ NOTARY PUBLIC DRAFTED BY: City of Prior Lake 16200 Eagle Creek Avenue SE Prior Lake, Minnesota 55372 MORTGAGEE CONSENT TO DEVELOPMENT CONTRACT _______________________________________________________, which holds a mortgage on the subject property, the development of which is governed by the foregoing Development Contract, agrees that the Development Contract shall remain in full force and effect even if it forecloses on its mortgage. Dated this _____ day of _______________, 2016. ______________________________________ ______________________________________ STATE OF MINNESOTA ) ( ss. COUNTY OF __________ ) The foregoing instrument was acknowledged before me this _____ day of __________________, 2016, by _______________ _____________________________________________________________. ________________________________________ NOTARY PUBLIC DRAFTED BY: City of Prior Lake 16200 Eagle Creek Avenue SE Prior Lake, Minnesota 55372 EXHIBIT A LEGAL DESCRIPTION OF PROPERTY Lot 2, Block 1, Gateway Center 1st Addition, City of Prior Lake, Scott County, Minnesota (also known as Parcel A dated March 18, 2015 per Survey dated March 19, 2015) AND The westerly 27.00 feet of Lot 1, Block 1, Gateway Center 1st Addition, City of Prior Lake, Scott County, Minneosta (also known as Parcel B dated March 18, 2015 per Survey dated March 19, 2015, including a 10.00 feet drainage and utility easement on Parcel B dated March 25, 2015 per Survey dated March 25, 2015) EXHIBIT B (FINAL PUD PLANS) Attached to the End of the Contract Exhibits EXHIBIT C (PUD RESOLUTION) EXHIBIT D DEVELOPER INSTALLED IMPROVEMENTS DEVELOPER INSTALLED IMPROVEMENTS include the financing and/or construction by the DEVELOPER on the PROPERTY and public property identified on the approved plans including, but not limited to, the following:  Water supply  Sanitary sewer  Storm sewer/stormwater improvements, both public and private  Grading, drainage, and erosion control improvements  Parking lots, trails and sidewalks (including public sidewalks along adjacent streets)  Landscaping, including trees, shrubs, topsoil and sodding  Lighting, both public and private CONTRACT FOR DEVELOPMENT OF LAND AS A PLANNED UNIT DEVELOPMENT IN THE CITY OF PRIOR LAKE, MINNESOTA, TO BE KNOWN AS GATEWAY REDEVELOPMENT AMENDED AND RESTATED THIS CONTRACT, made and entered into as of the 8th day of February, 2016, by and between the City of Prior Lake, (hereinafter “CITY”) a municipal corporation organized under the laws of the State of Minnesota and Prior Lake Leased Housing Associates I, LLLP a Minnesota Limited Liability Limited Partnership (the “DEVELOPER”). RECITALS WHEREAS, DEVELOPER is duly organized to do business in the State of Minnesota and owns, or will own the PROPERTY within the City of Prior Lake; Scott County, Minnesota legally described in attached Exhibit A, subject to the CITY’s approval of an administrative lot subdivision per Subsection 1006.101 of the Prior Lake City Code that will add the westerly 27.0 feet of Lot 1, Block 1, Gateway Center 1st Addition to Lot 2, Block 1, Gateway Center 1st Addition, Prior Lake, Scott County, Minnesota, and WHEREAS, DEVELOPER desires to develop the PROPERTY legally described and depicted in Exhibit A; and WHEREAS, the City approved a Preliminary Planned Unit Development Plan per Resolution 15-142 on March 9, 2015 for the PROPERTY, which approval is subject to the City’s approval of the Final Planned Unit Development Plans and certain conditions including the Developer enter into the City’s standard development contract; and WHEREAS, DEVELOPER has made application to City Council for approval to develop the PROPERTY as a Planned Unit Development (a “PUD”) per the Final PUD Plans for Gateway Redevelopment; and WHEREAS, under authority granted pursuant to Minnesota Statutes Chapter 462 and the Zoning Ordinance of the City of Prior Lake the CITY COUNCIL has agreed subject to the terms and conditions set forth herein, to approve the Final Planned Unit Development Plans (the “FINAL PLANS”). NOW, THEREFORE, in consideration of the mutual promises, covenants and conditions contained herein, the sufficiency of which is not disputed, it is hereby agreed as follows: 1. RECITALS The Recitals set forth above are herein incorporated as if fully set forth. 2. PURPOSE OF CONTRACT 2.1 The purpose of this Contract is to set out the terms and conditions pursuant to which the City Council of the City of Prior Lake grants its approval for the DEVELOPER to develop the PROPERTY as a PUD. The terms and conditions set forth herein are intended to promote and protect the orderly development of land within the City and to assure that the development of the PROPERTY is done in a manner to protect and preserve the health, safety and welfare of the citizens and property within the City. 2.2 This CONTRACT is intended to achieve the following objectives: a) To insure compliance with the purpose, requirements and criteria set forth in Section 1106 in the Zoning Ordinance for a Planned Unit Development. b) To clarify the rights and responsibilities of the parties to this CONTRACT. c) To incorporate, as an integral part of this CONTRACT by and between the CITY and DEVELOPER relating to the FINAL PLANS of Gateway Redevelopment. 3. FINDINGS 3.1 The Prior Lake Zoning Ordinance sets out goals and objectives against which all applications for Planned Unit Developments must be evaluated against. The FINAL PLANS are consistent with the goals and objectives of a Planned Unit Development as specified in Section 1106 of the Zoning Ordinance. 3.2 The CITY has approved a 2030 Comprehensive Land Use Plan amendment for the PROPERTY from Community Retail Shopping (C-CC) to Residential Urban High Density (R-HD) per Resolution 15-141 on March 9, 2015. 3.3 The CITY has approved Ordinance No. 115-07 to rezone the PROPERTY from General Business (C-2) to Planned Unit Development (PUD), to be legally published upon formal approval of the Comprehensive Land Use Plan amendment by the Metropolitan Council. 4. DEFINITIONS, RULES OF INTERPRETATION, AND EXHIBITS 4.1 Definitions In this CONTRACT the following terms shall have the following respective meanings unless the context hereof clearly requires otherwise: 4.1.1 “CITY” means the City of Prior Lake, a governmental subdivision of the State of Minnesota. 4.1.2 “CITY ATTORNEY” means the City Attorney of the City of Prior Lake. 4.1.3 “CONTRACT” means this Contract for Development of Land as a Planned Unit Development in the City of Prior Lake, Minnesota, and all referenced and incorporated exhibits by and between CITY and DEVELOPER, as the same may be from time to time modified, amended or supplemented. 4.1.4 “DEVELOPER” means Prior Lake Leased Housing Associates I, LLLP, or heirs successors and assigns. 4.1.5 “DEVELOPER INSTALLED IMPROVEMENTS” means all those improvements listed in Exhibit D. 4.1.6 “FINAL PLANS” means the Final Planned Unit Development Plans approved by the Council attached as Exhibit B. 4.1.7 “INCLUDING” means including, but not limited to. 4.1.8 “PROJECT” means the development of Gateway Redevelopment pursuant to the terms and conditions of the approved FINAL PLANS and this CONTRACT. 4.1.9 “PROPERTY” means the real property, together with improvements, if any, described in Exhibit A. 4.2 Exhibits The following exhibits are attached hereto, incorporated by reference and made a part of this CONTRACT as if fully set forth herein. 4.2.1 Exhibit A - Legal Description of PROPERTY 4.2.2 Exhibit B - Approved Final Planned Unit Development Plans stamped March 31, 2015. 4.2.3 Exhibit C - City Council Resolution 15-70 approving the Final Planned Unit Development Plans and the CONTRACT for the development of land as a Planned Unit Development 4.2.4 Exhibit D – Developer Installed Improvements 5. SCOPE OF PROJECT 5.1 The PROJECT to be known as Gateway Redevelopment consists of 2.54 acres, legally described as shown on Exhibit A. The PROJECT includes 168 senior rental housing units, associated off-street underground and surface parking, and interior common spaces. The total units include 112 1-bedroom, 21 2-bedroom and 35 3-bedroom units on four floors. The PROJECT shall be developed as shown on the FINAL PLANS attached hereto as Exhibit B. These plans include, but are not limited to site plans, landscaping plans, grading/utility plans and building elevations. 5.2 The PROJECT is to be developed in one phase, beginning in 2016. 5.3 The DEVELOPER shall be responsible to pay the CITY cash in lieu of park land dedication an amount equal to $450,000. In comparison, the park dedication fee schedule for 2015 results in a total cash fee for the PROJECT of $630,000 ($3,750/unit x 168). Based upon the City Council’s approval of Resolutions 15- 042 (Preliminary PUD Plan) and 15-070 (Final PUD Plan), findings support significant community benefits as a result of this PROJECT. The CITY has determined that these significant community benefits justify the reduced fee. This fee shall be due and payable to the CITY at the time all other fees are paid by the DEVELOPER related to the issuance of a building permit(s). 5.4 The DEVELOPER shall be responsible to pay the CITY the following local permit connection charges according to the fee schedule for 2015 based upon the number of net SAC Units determined by the Metropolitan Council Environmental Services Division for the PROJECT: (a) Sewer Connection Charge = $600/unit; (b) Water Connection Charge = $900/unit; and (c) Water Tower Charge = $1,000/unit. These fees shall be due and payable to the CITY at the same time as the park dedication fee payment identified in Section 5.3 of this CONTRACT. 6. DEVELOPER REPRESENTATIONS 6.1 DEVELOPER represents and warrants that neither the execution and delivery of this CONTRACT, the consummation of the transactions contemplated hereby, nor the fulfillment or the compliance with the terms and conditions of this CONTRACT is prevented or limited by, or in conflict with or will result in breach of, the terms, conditions or provisions of any restriction of DEVELOPER, or evidence of indebtedness, contract or instrument of whatever nature to which DEVELOPER is now party or by which it is bound or will constitute a default under any of the foregoing. 6.2 DEVELOPER agrees to hold harmless, indemnify and defend CITY, its Council, agents, employees and CITY ATTORNEY against any claims or actions brought as a result of DEVELOPER’s performance under this CONTRACT or as a result of alleged actions or omissions on the part of DEVELOPER, its employees or agents. 7. RELEASE, HOLD HARMLESS AND INDEMNIFICATION 7.1 DEVELOPER releases from and covenants and agrees that CITY, its City Council, officers, agents, servants, attorneys and employees thereof (hereinafter for purposes of this paragraph, the “indemnified parties”) shall not be liable for and agrees to indemnify and hold harmless the indemnified parties against any loss, including but not limited to, any required relocation costs or expenses related to the PROJECT, or damage to PROPERTY or any injury to or death of any person occurring at or about or resulting from any defect in the PROPERTY, development of PROPERTY or DEVELOPER INSTALLED IMPROVEMENTS, excluding any damage or loss caused by the gross negligence or willful misconduct of the CITY. 8. EVENT OF DEFAULT 8.1 Event of Default Defined. Event of default is any one or more of the following events: 8.1.1 Failure by DEVELOPER to timely pay all real property taxes assessed with respect to the PROPERTY; 8.1.2 Failure to construct the DEVELOPER INSTALLED IMPROVEMENTS pursuant to the terms, conditions and limitations of this CONTRACT; 8.1.3 Failure by DEVELOPER to observe or perform any covenant, condition, obligation or contract on its part to be observed or performed under this CONTRACT; 8.1.4 Transfer of any interest in the development, subject to CITY approval; 8.1.5 Failure by DEVELOPER to reimburse CITY for any costs incurred by CITY in connection with this CONTRACT, including the enforcement thereof; including, but not limited to engineering fees, inspection and testing fees, attorney fees and other professional fees. 8.2 Remedy Upon Event of Default. Whenever an event of default occurs, the CITY, after providing DEVELOPER notice as provided in paragraph 13.1, may take any one or more of the following actions: 8.2.1 CITY may cancel and rescind this CONTRACT. 8.2.2 CITY may take whatever action, including legal or administrative action, which may be necessary or desirable to CITY to collect any payments due under this CONTRACT or to enforce performance and/or observance of any obligation, contract or covenant of DEVELOPER under this CONTRACT. 8.2.3 CITY may suspend issuance of Building Permits and/or Occupancy Permits to the DEVELOPER on the PROPERTY. 8.3 Whenever an Event of Default occurs and CITY shall employ attorneys or incur other expenses, including employment of experts, for the collection of payments due or to become due or for the enforcement or performance or observance of any obligation or contract on the part of DEVELOPER herein contained, DEVELOPER agrees that it shall, on demand thereof, pay to CITY the reasonable fees of such attorneys and such other expenses so incurred by CITY. All obligations of the DEVELOPER under this CONTRACT for the payment of money, including claims for indemnification and damages shall not be secured by or in any manner constitute a lien on the PROPERTY, and the CITY shall not have the right to enforce such obligations other than directly against the DEVELOPER pursuant to Section 8 of this CONTRACT. 8.4 Nonexclusive Remedy. None of the actions set forth in this Section are exclusive or otherwise limit the CITY in any manner. 8.5 Cure by Limited Partner or Mortgagee. The CITY agrees to accept a cure of any default hereunder by the DEVELOPER’S limited partner or mortgagee just the same as if the DEVELOPER had cured the default itself. 9. WAIVER Failure of the CITY at any time to require performance of any provision of this CONTRACT shall not affect its right to require full performance thereof at any time thereafter and the waiver by the CITY of a breach of any such provision shall not be taken or held to be a waiver of any subsequent breach thereof or as nullifying the effectiveness of such provision. 10. ASSIGNMENT 10.1 Except for any mortgages related to DEVELOPER’S financing of the PROPERTY or any transfer of the PROPERTY by foreclosure or deed in lieu of foreclosure arising therefrom, DEVELOPER represents and agrees for itself, its heirs, its successors and assigns that DEVELOPER has not made or created and that it will not make or create or suffer to be made or created any total or partial sale, assignment, conveyance or any trust or power to transfer in any other mode or form of or with respect to this CONTRACT or in DEVELOPER without the prior written approval of the CITY; provided, however, that assignments, conveyances, or transfers of (i) limited partner interests in DEVELOPER or (ii) removal and replacement of the general partner to Wells Fargo Bank National Association or Wells Fargo Affordable Housing Community Development Corporation (or any entity 100% owned by any of the foregoing) are allowed without the prior written approval of the City. 10.2 The DEVELOPER may not transfer or assign this CONTRACT without the prior written permission of the CITY COUNCIL of the City of Prior Lake which consent shall not be unreasonably withheld. The DEVELOPER’S obligations hereunder shall continue in full force and effect, even if the DEVELOPER sells the PROPERTY or any part thereof. 11. PERMITS 11.1 The DEVELOPER shall obtain all necessary approvals, permits and licenses from the CITY, and any other regulatory agencies and the utility companies. If any of the entities request a change to the FINAL PLANS submitted for review, the DEVELOPER shall submit these changes to the CITY for approval. 11.2 All costs incurred to obtain said approvals, permits and licenses, and also all fines or penalties levied by any agency due to the failure of the DEVELOPER to obtain or comply with conditions of such approvals, permits and licenses, shall be paid by the DEVELOPER. 11.3 The DEVELOPER’s shall defend and hold the CITY harmless from any action initiated by the other regulatory agencies and the utility companies resulting from such failures of the DEVELOPER. 12. RECORDING 12.1 This CONTRACT shall be recorded by DEVELOPER within ninety (90) days from approval of the Resolution approving this CONTRACT, and all terms and conditions of this CONTRACT shall run with the land herein described, and shall be binding upon the heirs, successors, administrators and assigns of the DEVELOPER. The DEVELOPER shall provide and execute any and all documents necessary to implement the recording. If there be more than one developer, references herein to DEVELOPER shall mean each and all of them. 12.2 All recording fees, if any, shall be paid by the DEVELOPER. 13. NOTICE 13.1 Required Notices to the DEVELOPER shall be in writing, and shall be either hand delivered to the DEVELOPER, its employees or agents, or mailed to the DEVELOPER by certified mail at the following address: c/o Dominium Development & Acquisition, LLC, 2905 Northwest Blvd., Suite 150, Plymouth, Minnesota 55441 with a copy to Wells Fargo Bank, National Association, Community Lending & Investment (AU 7490), 1300 SW Fifth Ave., 12 Floor, MAC P6101, Portland, OR 97201 and to Greystone Services Corporation, Inc., 419 Belle Air Lane, Warrenton, Virginia 20186, Attention: Greystone Customer Care Team, ad to Federal Home Loan Mortgage Corporation, 8100 Jones Branch Drive, MS B4P, McLean, Virginia 22102, Attention: Multifamily Operations – Loan Accounting, and to Federal Home Loan Mortgage Corporation, 8200 Jones Branch Drive, MS 210, McLean, Virginia 22102, Attention: Managing Associate General Counsel – Multifamily Legal Division. In addition, the CITY shall deliver any notices to the DEVELOPER’S limited partner at the following address: Wells Fargo Affordable Housing Community Development Corporation MAC D1053-170, 301 South College Street, Charlotte, NC 28288-0173. Notices to the CITY shall be in writing and shall be either hand delivered to the City Manager, or mailed to the CITY by certified mail in care of the City Manager at the following address: City of Prior Lake, 4646 Dakota Street SE, Prior Lake, Minnesota 55372. Concurrent with providing Notice to the CITY, Notice(s) shall be served upon the CITY ATTORNEY Mark Johnson; Gregerson, Rosow, Johnson & Nilan LTD, 650 Third Avenue South, Minneapolis, Minnesota 55402. 13.2 The Notice shall state a time by which the default must be cured. The time the CITY gives the DEVELOPER shall be thirty (30) calendar days from the date of the certified mailing. 14. MODIFICATIONS OR AMENDMENT This CONTRACT may be amended by the parties hereto only by written instrument executed in accordance with the same procedures and formality followed for the execution of this CONTRACT. 15. PROOF OF TITLE Prior to CITY’s issuance of final signed building permits for the PROPERTY, the DEVELOPER shall furnish a signed vested deed demonstrating that the DEVELOPER fee has obtained the fee ownership of the PROPERTY. Notwithstanding the foregoing, the CITY will issue unsigned building permits and a “will-issue” letter listing any remaining conditions to issuance of the final signed building permits on or before the closing date for DEVELOPER’S acquisition of fee ownership of the PROPERTY, subject to the reasonable review and approval by the CITY of a complete application for a building permit submitted by the DEVELOPER. DEVELOPER agrees that in the event DEVELOPER’s ownership in the PROPERTY should change in any fashion, except for the normal process of selling or conveying lots, prior to the completion of the PROJECT and the fulfillment of the requirements of this CONTRACT, DEVELOPER shall forthwith notify the CITY of such change in ownership and seek the CITY’s approval to transfer the responsibility under this CONTRACT. Any change in ownership shall not release DEVELOPER from any of its obligations under this CONTRACT, unless or until the CITY has approved transfer of this CONTRACT and then only to the extent agreed to by the CITY. 16. HEADINGS Headings at the beginning of paragraphs herein are for convenience of reference, shall not be considered a part of the text of this CONTRACT and shall not influence its construction. 17. SEVERABILITY In the event any provisions of this CONTRACT shall be held invalid, illegal, or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision hereof, and the remaining provisions shall not in any way be affected or impaired thereby. 18. CONSTRUCTION This CONTRACT shall be construed in accordance with the laws of the State of Minnesota. IN WITNESS WHEREOF, CITY and DEVELOPER have caused this CONTRACT to be duly executed on the day and year first above written. Approved by the City Council on the ______ day of ___________, 2016. APPROVED AS TO FORM: by __________________________ Mark Johnson, City Attorney DEVELOPER: By___________________________ Its ___________________________ CITY OF PRIOR LAKE By:_____________________________ Its Manager By:______________________________ Its Mayor This Contract must be signed by all parties having an interest in the PROPERTY. STATE OF MINNESOTA COUNTY OF SCOTT On the ______ day of ________________, 2016, before me, a Notary Public, with and for said County personally appeared Kenneth L. Hedberg and Frank Boyles, to me personally known, being each by me duly sworn did say that they are the Mayor and City Manager, respectively, of the City of Prior Lake, a Minnesota municipal corporation, named in the foregoing instrument; and that said instrument was signed on behalf of the municipal corporation and acknowledged said instrument to be the free act and deed of said municipal corporation. _______________________________ Notary Public STATE OF MINNESOTA COUNTY OF SCOTT The foregoing instrument was acknowledged before me this ______ day of _________________, 2016 by________________ and by ____________________ who are the _____________and _______________ of ______________________, a Minnesota Limited Liability Limited Partnership, on behalf of said partnership. ________________________________ Notary Public STATE OF MINNESOTA COUNTY OF SCOTT The foregoing instrument was acknowledged before me this __________ day of ___________, 2016 by________________ and by ____________________ who are the _____________and _______________ of ______________________, a Minnesota _______________________, on behalf of said ________________. ________________________________ Notary Public This instrument prepared by: City of Prior Lake 4646 Dakota Street SE, Prior Lake, MN 55372 MORTGAGEE CONSENT TO DEVELOPMENT CONTRACT _______________________________________________________, which holds a mortgage on the subject property, the development of which is governed by the foregoing Development Contract, agrees that the Development Contract shall remain in full force and effect even if it forecloses on its mortgage. Dated this _____ day of _________________, 2016. ______________________________________ ______________________________________ STATE OF MINNESOTA ) ( ss. COUNTY OF __________ ) The foregoing instrument was acknowledged before me this _____ day of _________________, 2016, by ______________________________________________________________________________. ________________________________________ NOTARY PUBLIC DRAFTED BY: City of Prior Lake 16200 Eagle Creek Avenue SE Prior Lake, Minnesota 55372 MORTGAGEE CONSENT TO DEVELOPMENT CONTRACT _______________________________________________________, which holds a mortgage on the subject property, the development of which is governed by the foregoing Development Contract, agrees that the Development Contract shall remain in full force and effect even if it forecloses on its mortgage. Dated this _____ day of _______________, 2016. ______________________________________ ______________________________________ STATE OF MINNESOTA ) ( ss. COUNTY OF __________ ) The foregoing instrument was acknowledged before me this _____ day of __________________, 2016, by _______________ _____________________________________________________________. ________________________________________ NOTARY PUBLIC DRAFTED BY: City of Prior Lake 16200 Eagle Creek Avenue SE Prior Lake, Minnesota 55372 EXHIBIT A LEGAL DESCRIPTION OF PROPERTY Lot 2, Block 1, Gateway Center 1st Addition, City of Prior Lake, Scott County, Minnesota (also known as Parcel A dated March 18, 2015 per Survey dated March 19, 2015) AND The westerly 27.00 feet of Lot 1, Block 1, Gateway Center 1st Addition, City of Prior Lake, Scott County, Minneosta (also known as Parcel B dated March 18, 2015 per Survey dated March 19, 2015, including a 10.00 feet drainage and utility easement on Parcel B dated March 25, 2015 per Survey dated March 25, 2015) EXHIBIT B (FINAL PUD PLANS) Attached to the End of the Contract Exhibits EXHIBIT C (PUD RESOLUTION) EXHIBIT D DEVELOPER INSTALLED IMPROVEMENTS DEVELOPER INSTALLED IMPROVEMENTS include the financing and/or construction by the DEVELOPER on the PROPERTY and public property identified on the approved plans including, but not limited to, the following:  Water supply  Sanitary sewer  Storm sewer/stormwater improvements, both public and private  Grading, drainage, and erosion control improvements  Parking lots, trails and sidewalks (including public sidewalks along adjacent streets)  Landscaping, including trees, shrubs, topsoil and sodding  Lighting, both public and private 4646DakotaStreetSE PriorLake MN 55372 RESOLUTION 15 070 ARESOLUTION APPROVINGAFINAL PLANNEDUNITDEVELOPMENT PLANANDDEVELOPMENT CONTRACT FORGATEWAY REDEVELOPMENT Motion By MCGUIRE SecondBy THOMPSON WHEREAS ThePriorLake PlanningCommissionconducteda publichearing onApril6 2015 toconsider anapplication fromDominium the Developer fora Final PlannedUnitDevelopment PUD Planfor GatewayRedevelopment consisting ofa 170 unitsenior rental housing development and WHEREAS Notice ofthepublichearing onsaidPlannedUnitDevelopmenthasbeendulypublished and posted inaccordance withtheapplicable Minnesota Statutes andPriorLakeOrdinances and WHEREAS Allpersonsinterested inthisissuewere affordedthe opportunitytopresenttheirviewsand objections related tothe Final PUDPlanofGateway Redevelopment fortherecord atthe Planning Commission hearing and WHEREAS ThePlanningCommission andCityCouncil havereviewed theFinalPUDPlanaccording tothe applicable provisions ofthePriorLakeZoning andSubdivision Ordinances andfoundsaid PlannedUnitDevelopment tobe consistent withtheprovisionsofsaidordinances andthe approvedPreliminary PUDPlanforGatewayRedevelopment and WHEREAS ThePriorLakeCityCouncilconsidered an application fromDominium foraFinal PUDPlanof Gateway Redevelopment onApril 13 2015 and considers ittobeinsubstantial compliance withtheapprovedPreliminary PUDPlanforGateway Redevelopment asapproved bytheCity Council onMarch9 2015perResolution 15 142 NOWTHEREFORE BEITHEREBY RESOLVED BYTHECITY COUNCIL OFPRIORLAKE MINNESOTA as follows 1 Therecitalssetforthaboveareincorporatedherein 2 TheFinalPUD Planincludes butisnot limitedto thefollowing a Demolition Plan b SitePlan c Grading Plan d SWPPP e UtilityPlan f SiteLandscapePlan g SitePlantingPlan and h exterior elevations 3 TheMayor andCityManager areauthorizedtoexecutethecorresponding PUDDevelopmentContract for GatewayRedevelopment including theremovalofanyreference tothededication ofparkland subjectto finalapproval bytheCityAttorney 4 TheFinalPUD Planforasenior rental housingproject isapproved subjecttothefollowingconditions 4646DakotaStreetSE PriorLake MN 55372 a The Developer shall receive administrative subdivision approvalfromthe City foralotcombination of aportionofLot 1 and allofLot2 Gateway Center1 Additionst b The Developer shallconstruct public sidewalks along Gateway StreetandJordanAvenue asapproved bytheCityEngineer c TheFinalPUDPlan issubject to theMetropolitan Councils writtenapproval ofanamendment tothe Citys2030ComprehensiveLandUsePlanfromC CCCommunity RetailShopping to R HD Residential UrbanHighDensity 5 The EconomicDevelopment Authority EDA isdirectedtoreview options forassistingexisting businesses intheGateway Centerthatareimpactedby theredevelopment project PASSED ANDADOPTED THIS 13 DAYOF APRIL 2015h VOTE Hedberg Keeney McGuire Morton Thompson Aye Nay Abstain Absent FrankBoyles CityManager