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<br />PRELIMINARY DEVELOPMENT AGREEMENT <br />TRAVERSE BUSINESS CENTER <br />CITY OF ARDEN HILLS <br />PC NO.: 08-005 <br /> <br />1.0 Parties. This Preliminary Development Agreement is dated the 28'11 <br />day of April, 2008, and is entered into by and between the City of Arden Hills, <br />a Minnesota statutory city ("City"); and CMK Arden Holdings, A Minnesota <br />Limited Partnership, a Minnesota limited partnership, its successors and assigns <br />("CMK"). <br /> <br />2.0 Recitals. <br /> <br />A. CMK is the fee owner of the following described property situated <br />in Arden Hills, Ramsey County, Minnesota ("Property") which will <br />be platted as Lot 1, Block 1, Traverse Business Center: <br /> <br />(See Exhibit A) <br /> <br />B. On October 29, 2007, the City approved a Planned Unit <br />Development Permit ("PUD Permit") for the Property, as <br />contained in PC No. 06~040. The PUD Permit has not been <br />amended and remains in effect as originally approved. <br /> <br />C. Section 3.0 (B)(5) of the PUD Permit required CMK to replat the <br />Property. <br /> <br />D. Section 3.0 (B)(1) of the PUD Permit anticipates a phasing <br />schedule for the development of the Property and Section 2.0(C) <br />of the PUD Permit indicates that each phase will require its own <br />Development Agreement. This Preliminary Development <br />Agreement is not intended to be, nor shall be construed as, the <br />final Development Agreement for any of the development phases. <br /> <br />E. The process of issuing a Preliminary Development Agreement is a <br />departure from the usual provisions of the City's Platting <br />Regulations and is being followed because CMK has not yet <br />finalized the location of the utility easements which would <br />typically have been dedicated on the plat of Traverse Business <br />Center. <br /> <br />3.0 Planning Commission Review and Recommendations. On February 1, <br />2008, CMK submitted an application for the Preliminary and Final Replatting of <br />the Property ("Replatting Application"). On March 5, 2008, after reviewing the <br />Replatting Application, the reports and comments of the Arden Hills staff and <br />its consultants, and the comments of CMK; the Arden Hills Planning Commission <br />recommended an approval of the Replatting Application subject to certain <br />conditions. <br />