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<br /> <br />City of Arden Hills <br />City Council Meeting for October 26, 2015 <br />P:\Planning\Planning Cases\2015\PC 15-016 - Arden Plaza - Final PUD Phase III\Memos_Reports_15-016 <br /> <br />Page 1 of 2 <br />CONSENT ITEM – 6C <br /> <br />MEMORANDUM <br /> <br />DATE: October 26, 2015 <br /> <br />TO: Honorable Mayor and City Councilmembers <br /> Sue Iverson, Acting City Administrator <br /> <br />FROM: Matthew Bachler, Associate Planner <br /> <br />SUBJECT: Planning Case #15-016 <br /> Applicant: Hemisphere Restaurant Partners <br /> Property Location: 3561 Lexington Avenue North <br /> Subject: Arden Plaza Planned Unit Development Agreement – Fourth <br />Amendment <br /> <br /> <br />Requested Action <br /> <br />Motion to approve Arden Plaza Planned Unit Development Agreement – Fourth Amendment, <br />based on the August 31, 2015 City Council approval of Planning Case 15-016. <br /> <br />Background <br /> <br />On August 31, 2015, the City Council approved Final PUD plans for Phase III of the Arden <br />Plaza Master PUD in Planning Case 15-016. Hemisphere Restaurant Partners submitted the Final <br />PUD application for the construction of the Tavern Grill restaurant at 3561 Lexington Avenue <br />North, south of the Walgreens pharmacy in the Arden Plaza retail center. The closing for the <br />development parcel occurred on October 9, 2015, and Arden Plaza, LLC no longer retains <br />ownership of the property. <br /> <br />The City Attorney has prepared the Fourth Amendment to the Planned Unit Development <br />Agreement (Attachment A). The document has been reviewed and signed by Hemisphere <br />Restaurant Partners. <br /> <br />Financial Surety Revisions <br /> <br />As part of their approval of the Final PUD plans, the City Council approved a condition that <br />required Hemisphere Restaurant Partners to provide an escrow in the amount of 25 percent of the