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4.O REZONING/PLANNED UNIT DEVELOPMENT 4.1 A PLANNED UNIT DEVELOPMENT is a zoning district that may include single or mixed uses, one or more lots or parcels, and is intended to create a more flexible, creative and efficient approach to the use of the land subject to the procedures, standards, and regulations contained in the City Code. The FINAL DEVELOPMENT PLAN process includes the consideration and approval of a set of redevelopment plans and an agreement that stipulates the terms and conditions supported by the City. 4.2 In the past the Planning Division has established an underlying or base zoning district for its planned unit developments. However, this method has created a problem when accounting for the specific or exact zoning of the parcel. Planning Staff has determined that the Rezoning for Har Mar Apartments, though necessary, would not include an underlying/base designation of R- 3A, but rather the PUD Agreement, if approved in the FINAL phase of the PUD review process, will along with the approved development plans become the development contract on which the REZONING 1S b1S2d. 4.3 On March 24, 2008, the Roseville City Council supported AEON's request for General Concept PUD, Preliminary Plat and Rezoning of the Har Mar Apartment as the first step in the project's process. The proposal now will seek to rezone the parcel from its current designation of S-1, Limited Susiness District to a PUD, Planned Unit Development District for the two lots created for the project. 5.0 F�NAL PLAT 5.1 The FINAL PLAT, Har Mar Apartments Addition, will subdivide the 3.06-acre parcel into two lots. Lot 1 will include the five existing apartment buildings and associated parking and Lot 2 will include the new apartment building and associated parking. 5.2 The Final Plat is very similar to the preliminary. However, all of the underlying background items have been removed and a"clean' land division indicating Lot 1, Slock 1, Lot 2, Slock 1 and the right-of-way dedication are included. Also included are a number of the utility and drainage easements recommended by the Public Works/Engineering Department. 6.O PROJECT OVERVIEW 6.1 The FINAL DEVELOPMENT proposed by AEON would be completed in two phases. Phase I involves major remodeling of the existing units and improved site conditions, while Phase II involves the construction of a new 4-story 50-unit apartment building with underground parking. 6.2 The second phase of the project (50-unit building) increases density and improves the affordability mix. The project's proposed mix of affordable and market rate units increases the quality of housing options available to people of varying incomes, family types, age and abilities. The project also enables more people to live within one mile of the Rosedale Transit Center, Rosedale Mall, Har Mar Mall, and other local employment centers. 6.3 Phase I will consist of renovating existing residential buildings, residential amenities, and infrastructure to enhance the long-term desirability of the neighborhood and improve the property's value. Page 2 of 5