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<br />2021-07-12 Final Version 1 <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />(reserved for recording information) <br /> <br /> <br />DEVELOPMENT CONTRACT and PLANNED UNIT <br />DEVELOPMENT AGREEMENT (Developer Installed Improvements) <br /> <br /> <br />NEW PERSPECTIVE SENIOR LIVING <br />(PC20-022) <br /> <br /> <br /> THIS DEVELOPMENT CONTRACT AND PLANNED UNIT DEVELOPMENT <br />AGREEMENT (“Agreement”) is dated July 12, 2021, by and between the CITY OF ARDEN <br />HILLS, a Minnesota municipal corporation (“City”), and ARDEN HILLS RE, LLC, a <br />Minnesota limited liability company, (the “Developer”). <br /> 1. REQUEST FOR APPROVAL. The Developer has asked the City to approve a <br />plat and Planned Unit Development for New Perspective Senior Living (referred to in this <br />Agreement as the “plat” or “Development”.) The land is situated in the County of Ramsey, State <br />of Minnesota, and is legally described as set forth on Exhibit A hereto (“Subject Property”). The <br />Developer proposes to construct a 192,800 square foot, 4-story multi-family senior living facility <br />on the Subject Property. The facility will feature 145 units, with 114 units devoted to