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PRELIMINARY PLAT APPLICATION <br />& PLANNED UNIT DEVELOPMENT (PUD) APPLICATION <br /> <br /> <br />for-sale home but offer an rent-by-choice lifestyle option for those who are looking to <br />right-size or down-size from their current housing but desire stay in the community <br />that they love and enjoy the flexibility and freedom of maintenance free living, for <br />those who are early in their professional careers and desire a yard and more living <br />space, for those with a growing family that want to stay in the community they were <br />raised in or want to raise their children in a thriving community with good schools, <br />sense of community and space to play. <br />Density. The Subject Parcels have a combined total acreage of 7.6 thus the overall density for the <br />proposed project is 6.31 units per acre. For Lake Elmo West (approximately 4.6 acres) the density is <br />6.08 units per acre and for Lake Elmo East (approximately 3 acres) the density is 6.67. The density <br />calculation, whether you look at the combined acreage or the two separate parcels, is with in the <br />density guidelines of the current zoning Village Mixed Use which is 5 to 12 unit/acre. The proposed <br />density also meets the density guidelines for the Future Land Use classification (V -MU) which <br />allows for 5 to 10 units/acre <br />Staging. The Applicant does intend to phase or stage the development due to the small size of the <br />Subject Parcels. It is the Applicant’s intent to grade and construct all utility infrastructures for both <br />Subject Parcels at one time. The grading and utility construction will be fur ther phased by parcel to <br />allow staging on the other parcel. T hen, construction on the 28 units located on the east parcel will <br />commence. Once those units are complete, the Applicant will commence construction on the 20 units <br />located on west parcel. Please refer to the staging plan included with the Applicant’s submitted <br />materials. <br />Public/Common Open Space. The proposed development project does not include any areas that <br />are planned for or deemed to be public or common open space except for Outlot A which w ill contact <br />the stormwater basin. All green space areas outside the units will be common space for the residents <br />of the proposed development to use, however the land will be privately owned by the Applicant. <br />Restrictive Covenants. There are no restrictive covenants that will be included as part of the <br />proposed development. <br />Signage. The property will include signage at the entrances of the proposed development off of <br />Wildflower with respect to the residential neighborhood to the North. The Applicant will also reduce <br />signage by each unit having dedicated house numbers. <br />Financing. As of the date of these applications the Applicant intends to self-finance the construction <br />of the proposed project. There is a possibility, upon market correction, that the Appl icant will seek <br />financing through the form of a first mortgage from a local or regional bank. The Applicant has been <br />in operation for over 30 years with a strong financial record and positive borrowing history. The <br />Applicant is a preferred client to many of our local and regional banks such as Bridgewater Bank, <br />Huntington Bank, Old National Bank, Bremer Bank, etc. Bank or financial references can be <br />provided upon request. <br />Irrigation. The Applicant does not intend to use irrigation from the stormwater as the stormwater <br />basin is dry or consider a dry pond.