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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 14th day of <br />July, 2008, and is entered into by and between the City of Arden Hills, a Minnesota <br />statutory city ("City"); and CMK Arden Holdings, A Minnesota Limited Partnership, a <br />Minnesota limited partnership, its successors and assigns ("CMK"). <br /> <br />2.0 Recitals. <br /> <br />A. CMK is the fee owner of the following described property situated in <br />Arden Hills, Ramsey County, Minnesota ("Property") which will be <br />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 Development <br />Permit ("PUD Permit") for the Property, as contained in PC No. 06-040. <br />The PUD Permit has not been amended and remains in effect as <br />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 schedule for <br />the development of the Property and Section 2.0(C) of the PUD Permit <br />indicates that each phase will require its own Development Agreement. <br />This Preliminary Development Agreement is not intended to be, nor shall <br />be construed as, the final Development Agreement for any of the <br />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 Regulations <br />and is being followed because CMK has not yet finalized the location of <br />the utility easements which would typically have been dedicated on the <br />plat of Traverse Business Center. <br /> <br />3.0 Planning Commission Review and Recommendations. On February 1, 2008, CMK <br />submitted an application for the Preliminary and Final Replatting of the Property <br />("Replatting Application"). On March 5, 2008, after reviewing the Replatting <br />Application, the reports and comments of the Arden Hills staff and its consultants, <br />and the comments of CMK; the Arden Hills Planning Commission recommended an <br />approval of the Replatting Application subject to certain conditions. <br /> <br />4.0 City Council Review, Findings, Approval. On July 14, 2008, the Arden Hills City <br />Council reviewed the Replatting Application, the reports and comments of its staff <br />