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1 LA515-119-856339.v1 <br />CITY OF LAKE ELMO WASHINGTON COUNTY <br />STATE OF MINNESOTA RESOLUTION NO. 2024-088 <br />A RESOLUTION APPROVING THE DEVELOPMENT AGREEMENT FOR LAKE ELMO <br />TOWNHOMES 8 <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 WHEREAS, At Home Apartments, LLC, a limited liability company (the “Applicant”) 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, 2024 approving the final plat and final PUD plan for Lake Elmo Townhomes 8 (the “Resolution”); and <br /> WHEREAS, the conditions of approval of the final plat and final PUD plan in the Resolution included a requirement that the Applicant enter into a development agreement acceptable to the City Attorney and approved by the City Council that delineates who is 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: 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. Passed and duly adopted this 20th day of August, 2024 by the City Council of the City of Lake Elmo, Minnesota. <br /> <br /> __________________________________ Charles Cadenhead, Mayor ATTEST: <br />________________________________ <br />Julie Johnson, City Clerk