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<br />2 <br />188068v5 <br />a Phase 2 Final Planned Unit Development (the “Phase 2-Final Plan”) as identified in the approved PUD <br />Master Plan. <br />C. Together, the PUD Master Plan, Phase 1-Final Plan, and Phase 2-Final Plan shall be <br />referred to the “Development” in this Agreement, for the property situated in the County of Ramsey, State <br />of Minnesota, and is legally described on Exhibit A hereto (the “Subject Property”). <br /> D. 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 /> E. 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 /> F. Planning Commission Review . On the 6th day of July, 2016, the City Planning <br />Commission (the “Planning Commission”) reviewed the Phase 2-Final Plan 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 Phase 2-Final Plan. <br /> G. City Council Review. On the 25th day of July, 2016, the Arden Hills City Council (“City <br />Council”) reviewed the Phase 2-Final Plan, the reports and recommendations of the City’s staff and