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� � The front entrance area of the site is designed to have a more formal landscape and amenities to welcome the residents and visitors. A loop drive will provide easy access into the site for pick up and drop off of the residents and parking. One naturalistic pond, adjacent to the north wetland and three decorative pond areas consisting of decorative plantings and fountains provide key focal points on the site. Decorative plantings will extend across the front of the building and along the sides, where it will transition into the general open space at the back of the building. The back of the site will capture landscape complementing the adjoining wetlands, community gardens and general active open space. Creative storm water design and treatment was also used to minimize impact to the site. Public street, parking lot and building stormwater will be collected into a series of ponds, filtration and infiltration areas to provide treatment. Filtration systems have been utilized to reduce pond footprint sizes, lowering the impact of the development. The clean water and treated water from the ponds and filtration areas will be directed to the adjacent wetlands to improve hydrology. Overflow structures will be utilized to influence increased hydrologic activity for wetland enhancement. Maxfield Research completed a Market Feasibility Study for senior cooperative housing in Roseville in January 2008. This Study reviewed the proposed senior coop concept, examined growth trends and demographic characteristics of the senior population in the Roseville Market Area, analyzed the competitive situation for senior housing alternatives, and calculated the demand for market rate senior cooperative housing. After considering these factors, Maxfield concluded that there was market demand to support an additiona1240 units of cooperative housing, far exceeding the proposed 95-unit Applewood Pointe Development on this site. This is further supported by the fact that our first Roseville Applewood Pointe located north of this site just off of Snelling Avenue is 100% occupied with a waiting list exceeding 30 people. Finally, we have only been marketing the Langton Lake site since October 2007, and currently have 54 reservations. This is very exciting and significant given the fact that the winter months are typically slower in terms of marketing and the current residential real estate market is clearly challenging. At the current rate, we could reach the necessary 50% presale level by late summer of 2008. An issue that still needs to be finalized is the payment of Park Dedication Fees. As indicated previously, United Properties removed the town homes from the site plan and added the Park access road at the City's request. The previous plan which included town homes did not reflect a dedicated entrance road to Langton Lake Park. Removing these town homes resulted in a potential loss of revenue of just under $1 million assuming 12 town homes, $30,000 per home in land allocation, and potential profit of $50,000 per town home. In addition, the cost of the access road constructed to City standards for public use is estimated at $200,000 to $250,000. Our concern at this point is the assessment of additional Park Dedication Fees. It is our understanding that Minnesota Law provides municipal authority to require Park Dedications in connection with a subdivision application. The municipality may require that a "reasonable portion of the buildable land be dedicated to the public or preserved for public use as streets, roads, ....., playgrounds, trails, wetlands, or open space." A municipality may choose to accept an equivalent amount in cash for part or all of the portion required to be dedicated to such public uses. Under the City's Park Policy and Ordinance, United Properties would be assessed a Park Dedication Impact Fee of $190,000, or $2,000 for each of the 95 units. This fee could only be used for the acquisition or improvements of the City's Parks. The Park access road will be built at the City's request and at a significant development cost to United Properties. While a