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CITY OF LAKE ELMO <br />WASHINGTON COUNTY <br />STATE OF MINNESOTA <br />RESOLUTION NO. 2022-076 <br />A RESOLUTION APPROVING THE SECOND AMENDMENT TO THE DEVELOPMENT <br />AGREEMENT FOR DEVELOPMENT OF THE CROSSROADS EAST FIRST ADDITION. <br />WHEREAS, the City of Lake Elmo is a municipal corporation organized and existing under <br />the laws of the State of Minnesota; and <br />WHEREAS, Airlake Development Inc, and Crossroads East, LLC (together the <br />"Developer") previously submitted an application to the City of Lake Elmo (the "City") for a final <br />plat for Crossroads East First Addition; and <br />WHEREAS, the Lake Elmo City Council adopted Resolution No. 2021-115 on November <br />3, 2021 approving the final plat for Crossroads East First Addition; and <br />WHEREAS, the Lake Elmo City Council adopted Resolution No.2021-134 on December <br />7, 2021, approving the Development Agreement for Crossroads East First Addition; and <br />WHEREAS, the Lake Elmo City Council adopted Resolution No. 2022-034 on April 5, <br />2022 approving the First Amendment to Development Agreement (the "First Amendment"); and <br />WHEREAS, the First Amendment authorized Developer to proceed with vertical <br />construction of the buildings on the Property prior to completion of the public Subdivision <br />Improvements provided that the public Subdivision Improvements were completed on an agreed - <br />upon schedule; and <br />WHEREAS, Developer and City have agreed to further amend to the Development <br />Agreement to extend the deadline for completion of Public Improvements, as herein defined; and <br />WHEREAS, the City is willing to grant the requested extension provided that The <br />Developer signs the Second Amendment to the Development Agreement by August 10, 2022, <br />certain restrictions are placed on tenant improvements and the Public Improvements are complete <br />no later than September 30, 2022. <br />NOW, THEREFORE, based on the information received, the City Council of the City of <br />Lake Elmo does hereby approve the Second Amendment to Development Agreement for <br />Crossroads East First Addition and authorizes the Mayor and City Clerk to execute the Second <br />Amendment. <br />Passed and duly adopted this ffi66y of August 2022 by the City Council of the City of Lake <br />Elmo, Minnesota. 0— 4 �,Z 4, �, <br />Charles Cadenhead, Mayor <br />A T: <br />Juli hn , City Clerk <br />