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12378640v2 <br /> <br /> A-1 <br /> <br />EXHIBIT A <br /> <br />PROGRAM FOR FINANCING <br />A MULTIFAMILY RENTAL HOUSING DEVELOPMENT <br /> <br /> <br />Proposal Authority. Pursuant to Minnesota Statutes, Chapter 462C (the "Act"), the City <br />of Little Canada, Minnesota (the "City") is authorized to develop and administer programs of <br />multifamily senior housing developments and facilities for seniors who need additional special <br />services under the circumstances and within the limitations set forth in the Act, specifically <br />Minnesota Statutes, Section 462C.05, subdivision 7. Minnesota Statutes, Section 462C.07 <br />provides that such programs for Minnesota multifamily housing and health care developments <br />may be financed by revenue bonds issued by the City. This housing and health care finance <br />program (this "Program") is undertaken by the City to finance and refinance a Project (as <br />hereafter described) owned and operated by Presbyterian Homes Care Centers, Inc., a Minnesota <br />nonprofit corporation (the "Borrower"), an affiliate of Presbyterian Homes and Services, a <br />Minnesota nonprofit corporation. The City expects to issue revenue bonds (the "Bonds") <br />pursuant to the Act to assist in financing and refinancing the Project. <br />General Description of the Project and Location. The Project is located at 1910 County <br />Road D, in the City of Roseville, Minnesota. The City anticipates loaning the proceeds of the <br />Bonds to the Borrower to (i) finance, in part, the acquisition, construction, and equipping of an <br />approximately 83-unit independent living senior housing facility (the "2020 Project"); and <br />(ii) refinance the acquisition, construction, and equipping of a 50-unit replacement skilled <br />nursing facility (the "2018 Project") (collectively, the "Project"). <br />The 2020 Project consists of one contiguous three-story building with underground <br />parking with approximately 160,000 gross square feet. The independent living units include: <br />Unit Description Number of <br />Units <br />Average Sq. <br />Feet/Unit <br />Approximate <br />Base Rent <br />Second <br />Person Fee <br /> <br /> One-bedroom 16 794-812 $2,263-2,314 $0 <br /> One-bedroom + Sunroom/Den 30 1,027-1,172 $2,927-3,340 $0 <br /> Two-bedroom/two bath 28 1,160-1,308 $3,306-3,728 $0 <br /> Two-bedroom + Sunroom/Den 9 1,763-1,994 $5,025-5,683 $0 <br />