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PARKING DEFERMENT AGREEMENT <br />This Agreement is entered into by and between the City of Lino Lakes, a Minnesota <br />municipal corporation, and New Horizon Real Estate Development 6, LLP, a Minnesota <br />limited liability partnership, effective , 2022. <br />Recitals <br />1. New Horizon Real Estate Development 6, LLP provides daycare services and is <br />constructing, or has constructed, a new facility (the Facility). <br />2. The legal description of the property will be Lot 1, Block 1, Belland <br />Farms Second Addition, Anoka County, Minnesota after recording of the <br />final plat. <br />3. Per the City Code Section 1007.044(6), a day care facility requires one (1) space per <br />teacher on the largest shift, plus one (1) space per five (5) students/children based on the <br />maximum capacity of the facility. The proposed day care facility requires 60 total spaces. <br />4. New Horizon Real Estate Development 6, LLP requested a reduction in the number of <br />required parking stalls pursuant to the parking deferment provisions of City Code Section <br />1007.044(7). <br />5. The City agrees to reduce the number of required stalls provided all requirements of City <br />Code Section 1007.044(7) are, and remain, satisfied. <br />Agreement <br />1. The City agrees to defer the parking stall requirements set forth in City Code Section <br />1007.044 for the Property subject to the following conditions: <br />a. New Horizon Real Estate Development 6, LLP shall install a minimum of 47 <br />improved parking stalls and shall provide for a minimum of 12 deferred parking <br />stalls. This number shall not be decreased without written permission from the <br />City. <br />b. On -site parking only occurs in areas designed and constructed for parking in <br />accordance with the City Code. The parking deferment area may encroach into <br />the required 15ft setback along 24th Avenue due to the need for additional <br />dedicated road right-of-way. <br />c. Additional parking shall be installed by the Property owner if the City <br />Community Development Director finds that such additional stalls are necessary <br />to accommodate the use of the Property for daycare services. Any additional <br />stalls shall be constructed in accordance with the ordinance requirements existing <br />as of the date of this Agreement. <br />d. Any change in the use of the Property requires compliance with the then -current <br />Zoning Code standards for parking. <br />