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, � � <br />AGREEMENT <br />1.0 Parties. This agreement ("Agreement") is entered into by and between the City of Arden <br />Hills, a Minnesota statutory city ("City") and Enrichs Holding Company, LLC, a <br />Minnesota limited liability company ("Enrichs"). <br />2.0 Recitals. <br />A. The City has awarded a contract for the construction of the 2010 Pavement <br />Management Project ("2010 PMP") which includes the reconstruction of <br />Valentine Crest Road. <br />B. The City has adopted zoning and subdivision regulations ("Development <br />Regulations") which define minimum lot size requirements. <br />C. The City will specially assess a portion of the 2010 PMP cost against the parcels <br />receiving a special benefit from the construction of the 2010 PMP. <br />D. Pursuant to the City's Special Assessment Policy, a single family residential lot <br />would be specially assessed on a per lot unit basis. A"Lot Unit" is defined as a <br />platted single family residential lot which, according to the current Arden Hi11s <br />Municipal Code, cannot be further subdivided. A single family residential lot <br />which could be subdivided in compliance with the Arden Hills Municipal Code <br />would be specially assessed for a number of lot units equal to the number of lots <br />which could be created by a future subdivision. <br />E. Enrichs is the owner of the following described property ("Enrichs Property") <br />which has a postal address of 4093 Valentine Crest Road: <br />(PIN 21.30.23.43.0006) Lot l, Block 2, Houle Addition <br />F. The Enrichs Property is located in an R-1 zoning district and is improved with a <br />single family dwelling and an attached garage. <br />G. The Enrichs Property is a lot which could be further subdivided into two (2) lots <br />and each resulting lot would comply with the general lot standards contained in <br />the current City Development Regulations. <br />H. The City is considering the possibility of specially assessing the Enrichs Property <br />for two (2) residential lot equivalents in order to equitably spread the cost of the <br />2010 PMP. <br />I. Enrichs object to being assessed for two (2) Lot Units and states that Enrichs has <br />no intent to further subdivide the Enrichs Property now or in the near future. <br />