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Revised May, 2008 <br />STAT� OF MINNESOTA <br />MINN�SOTA DEPARTMENT OF E[v�LOYMENT AND ECONOMIC DEVELOPMENT' <br />BUSINESS AND COMMUNT�'Y DEVELOPMENT DNISION <br />APP�.ICAT[ON FOR APPROVAL OI' �NDUSTRIA�, DEVELOPMENT QOND <br />PROJECT PURSUA.NT TO MINNESO�'A �TATUTES, �ECTION 469.152 THROUGH 4b9.165 <br />{Please submit this forpn i� duplicate - ai1 sapporting dafa in s'r�gle capy onlyj <br />Date: Au�ust 25, 2008 <br />The governing body of Cit of Arden Hi�ls Mir�nesota, hereby applies to the Minnesata <br />De�artzz�ent of Employ�nent ar�d Ecanomic Develop�nent (Departmentj for approval af a <br />proposed Tndustrial Developmertt Bot�d issue as required by Mitu�. Sta.t. § 4b9.1S2 - 469.165. <br />Address o� issuer. Cit of Arden Hiils, Mir�c�esota, Citv Hall, 1245 W Highway 96 <br />Arden Hi�ls MN 551 I2-5743 � <br />Atiin: Ron Moarse Administrator <br />Telepho�e: 651-792-78fl0 Fax: 65 �-634-5137 <br />We have eniered inta pr�liminary discussions wi1h: <br />Fir�r�: Presbyterian Horr�es Mana�ement anc! Attorney: ,�anna Severar�ce, Esq�__ <br />Serv�ces Inc. � <br />Address: 2845 Hamline Avenue No. Address: 2845 Harn�ine Avenue No. <br />Suite 200 <br />City: Rosevilie State MN Zip 55 � 13 City: Rosvilie State MN Zip 55113 <br />, Name af Projeci: PHM&S Office Buildin Pra�ect <br />This �rin is �ngaged pri�narily in (nature of busin�ss): �i� owning_and a e� ratir�g healt�t care <br />facilities that rovide skilled nursin convalescent and re�abilitative care to eideri ersons ii <br />ownin anci o eratin assistsd tivin facilities and inde endent senior housin facilities iii <br />rovidin mana etnent services rimaril vc�ith res ect to abav�-descri�ed faciiities and iv <br />rovidin hame heaith care and other charitabie senior a�d residential care setvices. <br />The proceeds from the sate of the Industriai Development Bor�ds will be used to {descr�be the <br />project): eonstruct arid e ui ar� a roximat�l 27 OOp s uaze foot addition to the Barrower's <br />co orate head uarters located at 2845 Hamiine Avenue No. Roseville MN "Office <br />Facilities"), and fiiZreiinance �he_remaining_outsta�din� de�t the proceeds of which were used <br />b t�e Borrower to ac uire tl�e Office Faci�ities_ � � <br />Addresses of Project: 2845 Hamline Avenue No_ Roseviile MN <br />22os7sr�� <br />