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CITY OF LAKE ELMO <br />WASHINGTON COUNTY <br />STATE OF MINNESOTA <br />I <br />A RESOL UTION APPROVING THE DEVELOPMENTAGREEMENTFOR LAKE ELM# <br />TOWNHOMES8 <br />WHEREAS, the City of Lake Elmo (the "City") is a municipal corporation organized and <br />existing under the laws of the State of Minnesota; and <br />WHEREAS, At Rome Apartments, LLC, a limited liability company (the "Applicant") <br />previously submitted an application to the City for a final plat and final PUD plan for Lake Elmo <br />Townhomes 8; and <br />WHEREAS, the Lake Elmo City Council adopted Resolution No. 2024-066 on May 21, <br />2024 approving the final plat and final PUD plan for Lake Elmo Townhomes 8 (the "Resolution"); <br />and <br />WHEREAS, the conditions of approval of the final plat and final PUD plan in the <br />Resolution included a requirement that the Applicant enter into a development agreement <br />acceptable to the City Attorney and approved by the City Council that delineates who is <br />responsible for the design, construction, and payment of the required improvements with financial <br />guarantees therefore; and <br />NOW, THEREFORE, the City Council of the City of Lake Elmo hereby: <br />1. Approves the Development Agreement for Lake Elmo Townhomes 8 and authorizes <br />the Mayor and City Clerk to execute it. The City Attorney is authorized to insert or <br />modify Exhibits of the Development Agreement as needed. <br />Passed and duly adopted this 20th day of August, 2024 by the City Council of the City of Lake <br />Elmo, Minnesota. <br />CYaries Cadenhead, Mayor <br />ATT <br />Julie tson, TClerk <br />LA515-119-856339.v1 <br />