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<br />2 <br />188032v2 <br />hereto (the “Subject Property”). “Phase I” is that portion of the Development identified in the Phase 1- <br />Final Plan. <br /> B. Currently, the Developer owns and operates approximately 263,800 square feet of <br />headquarters and research and development facilities in Arden Hills. The Developer also leases <br />approximately 190,000 square feet of property for administrative functions, across Lexington Avenue North <br />from the Arden Hills Campus, in Shoreview. The Developer desires to consolidate its Arden Hills site and <br />the Shoreveiw site to allow for significant growth of its headquarters in Arden Hills. <br /> C. The PUD Master Plan indicates that the Subject Property will be redeveloped in multiple <br />phases: <br />1. Phase 1 will include the expansion and reconfiguration of the visitor parking lot on <br />the south side of the existing principal buildings. <br />2. Phase 2 will include the construction of a new four-story corporate office building <br />consisting of approximately 155,000 square feet and related site improvements, including <br />the reconfiguration and expansion of the employee surface parking lot on the north side of <br />the existing principal buildings and landscaping improvements. <br /> D. Planning Commission Review. On the 8th day of June, 2016, the City of Arden Hills <br />Planning Commission (the “Planning Commission”) reviewed the application at a public hearing and after <br />considering the application, the reports and comments of the City’s staff and consultants, reports and <br />comments of Developer, and other public comments; and, subject to conditions, recommended approval of <br />the Development. <br /> E. City Council Review. The “City Council” is the City of Arden Hills City Council. On the <br />27th day of June, 2016, the City Council reviewed the application, the reports and recommendations of the <br />City’s staff and consultants; the reports and comments of Developer; and the recommendation of the City <br />Planning Commission; and has approved the Development; all subject to the terms and conditions contained <br />herein.