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[4W*XQ'2 W.V4 A D1101 [C RE' SOLUTION NO. 2019-072 RESOLUTIONAPPROVING THE CONTINENTAL 483 FUND LLC— SPRINGS .APARTMENTS FINAL PLAT AND FINAL PLANNED UNIT DEVELOPMENT (PUD)) PLANS WHEREAS, the City of Lake Elmo is a municipal corporation organized and existing under the laws of the State of Minnesota; and WHEREAS, Continental 483 Fund LLC, c/o Gwyn Wheeler, W134 N8675 Executive Parkway, Menomonee Falls, Wisconsin 53051, submitted an application to the City of Lake Elmo (City) for a Final Plat and Final PUD Plan approval for a 300 unit, attached housing residential planned unit development on a 17.33 acre site to be known as the Springs Apartments, a copy of which is on file in the City of Lake Elmo Planning Department; and WHEREAS, notice was published, mailed and posted pursuant to the Lake Elmo Zoning Ordinance, Section 154.102; and WHEREAS, the Lake Elmo Planning Commission held public hearing on September 9, 2019 to review and consider the proposed Final Plat and Final PUD plans, and WHEREAS, the Lake Elmo Planning Commission adopted a motion recommending to the City Council approval of the proposed Final Plat and Final PUD plans subject to conditions of approval; and WHEREAS, the Lake Elmo Planning Director submitted a report and recommendation regarding the proposed Final Plat and Final PUD plans as part of a memorandum to the City Council for the October 1, 2019 City Council Meeting; and WHEREAS, the City Council reviewed the proposed Final Plat and Final PUD application and plans for the Springs Apartments at its meeting held on October 1, 2019 and made the following findings of fact: 1. That if the 2040 Lake Elmo Comprehensive Plan Update and updated Land Use Map are approved in 2019, that the new land use designation for the site of the proposed planned development will be MU-C (mixed use commercial); and that the preliminary PUD Plan would be consistent with the intent of the 2040 Lake Elmo Comprehensive Plan and the 2040 Land Use Map for this area. 2. That the Final PUD Plan complies with the general intent of the Urban High Density Residential zoning district with PUD modifications including the reduced building setbacks to Julia Avenue and to the north property line. 3. That the Final Plat and Final PUD Plan generally complies with the City's Subdivision regulations. 4. That the Final PUD Plan must be revised to be consistent with the City's engineering standards as noted in the City Engineer's plat review memorandum dated August 28, 2019 and in his construction review memorandum dated September 6, 2019. 5. That the preliminary PUD Plan meets the minimum requirements for a PUD including minimum lot area, open space and street layout.