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12. The proposed land use designation of Very Low Density Residential would be compatible with the adjacent land uses. 13. The proposed redevelopment is a permitted use in the R-2 Residential District. 14. The proposed CPA would advance the City’s goal to promote the development properties that are in keeping with the character of existing and established neighborhoods within the City. 15. The City staff has been in contact with the staff at the Metropolitan Council regarding the proposed development and they have indicated their support for the proposed CPA. Recommendation Based on the submitted plans and findings of fact, staff recommends approval of Planning Case 14-034 for a Preliminary Plat, Master and Final Planned Unit Development (PUD), Rezoning, and Comprehensive Plan Amendment for the Valentine Cove redevelopment project located at 1941 & 1901 County Road E2. If the Planning Commission recommends approval of this request, staff recommends that the following twenty-one (21) conditions be included with the approval: 1. That the project shall be completed in accordance with the submitted plans as amended by the conditions of approval. Any significant changes to these plans, as determined by the City Planner, shall require review and approval by the Planning Commission and City Council. 2. That the applicant shall submit an application for Final Plat approval to the City within 180 days of the approval of the Preliminary Plat. 3. That the execution of the Final Plat shall be contingent upon the Metropolitan Council’s approval of the Comprehensive Plan Amendment. 4. That the development agreement shall be prepared by the City Attorney and subject to City Council approval. The development agreement shall be executed prior to execution of the Final Plat. 5. That the Developer shall submit a park dedication, subject to the approval of the City Council, equal to six percent ($51,360) of the total land area, which is currently under a purchase agreement for $856,000. The City shall use the park dedication to expand the City’s parks, trails, and recreation system. 6. That the Developer shall submit a financial surety in the amount of 125 percent of the estimated costs of site improvements including grading, utilities, and paving, prior to the issuance of a building permit. The financial surety shall be in the form of a letter of credit issued by a FDIC-insured Minnesota bank, and be in a form acceptable to the City. The purpose of the letter of credit is to ensure that site improvements are completed in the event that the developer defaults on the PUD Development Agreement. 7. That the Developer shall submit a cash escrow in the amount of 25 percent of the estimated costs of site improvements including grading, utilities, and paving, prior to City of Arden Hills Planning Commission Meeting for January 7, 2014 P:\Planning\Planning Cases\2014\PC 14-034 - Valentine Cove - Plat and PUD\Memos_Reports_14-034 Page 11 of 14