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1 <br /> BARNETT COMPANIES DEVELOPMENT AGREEMENT <br /> <br /> THIS AGREEMENT made this _____ day of ________________________, 2025, is by <br />and between the City of Gem Lake, whose primary address is 4200 Otter Lake Road, Gem Lake, <br />Minnesota 55110, Ramsey County, a municipal corporation organized under the laws of the State <br />of Minnesota, (the “City”), and Barnett Companies, Inc., a Minnesota corporation, whose primary <br />address is 3610 North Hwy 61, Gem Lake, Minnesota 55110 (the “Developer”), and consented to <br />by Barnett 3610 LLC, a Minnesota limited liability company, whose primary address is 3610 North <br />Hwy 61, Gem Lake, Minnesota 55110 ("Barnett 3610"). <br /> <br /> WITNESSETH: <br /> <br /> WHEREAS, Developer is the owner of a parcel of real property located at 3610 Highway <br />61, in the City of Gem Lake, County of Ramsey, legally described as follows, see attached <br />Attachment A ("Parcel A" or the "3610 Parcel"); and <br /> <br /> WHEREAS, Barnett 3610 is the owner of a parcel of real property located at 3700 <br />Highway 61, in the City of Gem Lake, County of Ramsey, legally described as follows, see <br />attached Attachment A ("Parcel B" or the "3700 Parcel"); and <br /> <br /> WHEREAS, the Developer, proposes to construct a new building to replace the existing <br />structure located on Parcel A; and <br /> <br /> WHEREAS, Developer as part of its plan to redevelop Parcel A has requested permission <br />to adjust the common boundary lines shared by parcels A and B; and <br /> <br /> WHEREAS, Developer submitted to the City plans and specifications for construction of <br />a new building on Parcel A and dimensions for Parcel A and Parcel B after giving effect to the <br />proposed adjustment of the boundary line between Parcel A and Parcel B, intended to comply with <br />the regulations established with by the City of Gem Lake, which plans and specifications where <br />dated July 23, 2024 and have been submitted to, and reviewed and approved by, the City and its <br />staff and consultants (the "Construction Plans"); and <br /> <br /> WHEREAS, the City believes the proposed development of the property and fulfillment of <br />this Agreement are in the best interest of the City of Gem Lake; and <br /> <br /> WHEREAS, pursuant to Resolution #2024-0019 Approving a Minor Subdivision for 3610 <br />Highway 61 and 3700 Highway 61, the City Council for the City approved the lot line adjustment, <br />subject only to the conditions set forth in such resolution; and <br /> <br /> WHEREAS, pursuant to Resolution #2024-0020 Approving a Zoning Compliance Permit <br />for 3610 Highway 61 and 3700 Highway 61, the City Council for the City approved a Zoning <br />Compliance Permit for completion of the lot line adjustment and construction of the new building <br />proposed to be constructed on Parcel A, subject only to the conditions set forth in such resolution; <br /> <br />Commented [AR1]: Verify this language with Justin