5F, Approve Development Agreement Between NLD Arden Hills, LLC and the City – Planning Case #11-016

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�� �R�EN�HILLS MEMORANDUM DATE: TO: FROM: January 30, 2012 Honorable Mayor & City Councilmembers Patrick Klaers, City Administrator Meagan Beekman, City Planner � SiJBJECT: Planning Case #11-016 Applicant: NLD Arderi Hills, LLC Property Location: 3585 Lexington Avenue North Subject: Walgreen's Development Agreement Requested Action 1Vlotion to approve the development agreement between the City and NLD Arden Hills, LLC, as presented in the January 30, 2012, report to the City Council. Back�round At the August 29, 2011, meeting, the City Council approved a Preliminary and Final Plat to subdivide the Arden Plaza site into three lots, and amendment to the Master and Final PUD for the Arden Plaza redevelopment. The original Master PUD and Final PUD were approved in June of 2009. The amendment adjusted the site layout and construction timeline from the original approval. At the time of the August meeting it was understood by the applicants and the City that CVS Pharmacy would purchase the newly created Lot 1 and construct a CVS drug store. At the October 10, 2011, meeting the City Council approved the Arden P1aza, LLC development agreement for Lots 2 and 3 of Arden Plaza. Approval of this development agreement allowed Arden Plaza to file the final plat with Ramsey County and begin site work to prepare for the construction of Lot 1. Since that meeting NLD Arden Hills, a development representative of Walgreen's has purchased Lot 1 and intends to proceed with the construction of a Walgreen's drug store. The site layout remains substantially similar to the plans approved in August; however, the building is slightly larger, and the elevations of the structure itself have been City ofArden Hills City Council Meeting for January 30, 2012 P: IPlanninglPlanning Cases12011111-016 - Arden Plaza - PUD Amendment (APPROVED)101-30-12 - NLD Arden Hills, LLC DA - Memo.doc Page 1 of 2