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CONSENT ITEM—5B <br /> lt <br /> ,-iREN HILLS <br /> MEMORANDUM <br /> DATE: May 22, 2017 <br /> TO: Honorable Mayor and City Councilmembers <br /> William S. Joynes, Sr., City Administrator <br /> FROM: Matthew Bachler, Senior Planner <br /> SUBJECT: Planning Case#17-008 <br /> Applicant: Roberts Management Group <br /> Property Location: 3771 and 3833 Lexington Avenue and 1120 Red Fox Road <br /> Request: Master PUD Amendment and Phase 2 Final PUD Agreement <br /> Requested Action <br /> Motion to approve the Master Planned Unit Development (PUD) Amendment and Phase 2 — <br /> Final PUD Agreement for Lexington Station, based on the City Council approval of Planning <br /> Case 17-008 on April 24, 2017. <br /> Background <br /> On April 24, 2017, the City Council approved Planning Case 17-008 for a Master PUD <br /> Amendment and Final PUD for Phase 2 of the Lexington Station project located at the southwest <br /> corner of Lexington Avenue and Red Fox Road. As a condition of approval, the Master PUD <br /> Amendment and Phase 2—Final PUD Agreement is required to be approved prior to the issuance <br /> of any City permits. The City Attorney has prepared the Agreement and the document has been <br /> reviewed and approved by Roberts Management(Attachment A). <br /> Financial Surety Revisions <br /> As part of the approval of Planning Case 17-008, the City Council approved two conditions that <br /> would require Roberts Management to provide cash escrows in the amount of 25 percent of the <br /> cost of site improvements and 25 percent of the cost of landscaping for financial surety purposes. <br /> Roberts Management has requested the cash escrow requirement for site improvements be <br /> changed to $20,000 or 25 percent of the total estimated costs, whichever amount is less, and that <br /> the escrow requirement for landscaping improvements be changed to $15,000 or 25% of the total <br /> estimated cost, whichever amount is less. The main purpose of the cash escrow accounts is to <br /> City of Arden Hills <br /> City Council Meeting for May 22, 2017 <br /> P:IPlanninglPlanning Cases120171PC 17-008-Lexington Station-Master PUD Amendment and Final PUD Phase 21Memos Reports_17-008 <br /> Page 1 of 2 <br />