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<br />City of Arden Hills <br />Planning Commission Meeting for March 4, 2015 <br /> <br />P:\Planning\Planning Cases\2015\PC 15-004 - Valentine Bluff (1901 & 1941 County Road E2) - Preliminary and Final Plat, Rezoning and <br />Comp Plan Amendment\Memos_Reports_15-004 Page 12 of 15 <br />17. The proposed redevelopment is a permitted use in the R-2 Residential District. <br />18. The proposed CPA would advance the City’s goal to promote the development properties <br />that are in keeping with the character of existing and established neighborhoods within <br />the City. <br />19. The City staff has been in contact with the staff at the Metropolitan Council regarding the <br />proposed development and they have indicated their support for the proposed CPA. <br /> <br /> <br />Recommendation <br /> <br />Based on the submitted plans and findings of fact, staff recommends approval of Planning Case <br />15-004 for a Preliminary & Final Plat, Rezoning, and Comprehensive Plan Amendment for the <br />Valentine Bluff redevelopment project located at 1941 & 1901 County Road E2. If the Planning <br />Commission recommends approval of this request, staff recommends that the following twenty <br />(20) conditions be included with the approval: <br /> <br /> <br />1. That the project shall be completed in accordance with the submitted plans as <br />amended by the conditions of approval. Any significant changes to these plans, as <br />determined by the City Planner, shall require review and approval by the Planning <br />Commission and City Council. <br />2. That the execution of the Final Plat shall be contingent upon the Metropolitan <br />Council’s approval of the Comprehensive Plan Amendment. <br />3. That the development agreement shall be prepared by the City Attorney and subject <br />to City Council approval. The development agreement shall be executed prior to <br />execution of the Final Plat. <br />4. That the Developer shall submit a park dedication, subject to the approval of the City <br />Council, equal to six percent ($51,360) of the total land area, which is currently under <br />a purchase agreement for $856,000. The City shall use the park dedication to expand <br />the City’s parks, trails, and recreation system. <br />5. That the Developer shall submit a financial surety in the amount of 125 percent of the <br />estimated costs of site improvements including grading, utilities, retaining walls, <br />stormwater filtration systems, and driveway openings, prior to the issuance of a <br />building permit. The financial surety shall be in the form of a letter of credit issued by <br />a FDIC-insured Minnesota bank, and be in a form acceptable to the City. The purpose <br />of the letter of credit is to ensure that site improvements are completed in the event <br />that the developer defaults on the Development Agreement. <br />6. That the Developer shall submit a cash escrow in the amount of 25 percent of the <br />estimated costs of site improvements including grading, utilities, retaining walls, <br />stormwater filtration systems, and driveway openings, prior to the issuance of a <br />building permit. The escrow will be used for City costs related to review, approval, <br />and inspection of site improvements or any costs incurred by the City in the event of a <br />developer default.