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A-3 <br />Background <br />The Langton Shores Campus is located in Roseville, Minnesota (the “City”). The Borrower owns (and has <br />since 1984) the approximately 15.2 acres that make-up the Campus. As of the date of the Official Statement, <br />municipal project approvals for the 2020 Project have been received, miscellaneous government/watershed permit <br />applications are in review, and final construction documents are in production. The Borrower expects to commence <br />construction of the 2020 Project in ____, 2020. <br />Below is a map of the location of the Campus in northwest Roseville. In addition, the Feasibility Study has <br />multiple maps that show the location of the Campus and the primary market area for the Campus. <br />Source: Google Maps <br />The 2018 Project replaced the current skilled nursing facility with 50 transitional care unit beds licensed for <br />Medicare and Medicaid. Current residents of the skilled nursing facility moved from the existing building to the <br />new transitional care unit in February 2020. Construction of the 2020 Project will begin following the demolition of <br />the existing skilled nursing facility to be replaced. During the last few years, the Borrower has reduced the number <br />of licensed skilled nursing beds at the site. The 2020 Project will consist of the addition of 83 independent living <br />apartments. The proposed unit mix of the Project is included below. <br />Type <br />Average <br />Square Feet <br />Number of <br />Units/Beds <br />Independent Living Apartments 1,176 83 <br />Transitional Care Beds 360 50 <br />Housing Summary Total:133