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CITY OF LAKE ELMO <br />WASHINGTON COUNTY <br />STATE OF MINNESOTA <br />A RESOL UTIONAPPR 0 VING THE DE VEL OPMENTAGREEMENT FOR INWOOD <br />TO WNHOMES I ST ADDITION <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, M/I Homes of Minneapolis/St Paul, a limited liability company (the <br />"Applicant") previously submitted an application to the City for a final plat and final PUD plan <br />for Inwood Townhomes Vt Addition; and <br />WHEREAS, the Lake Elmo City Council adopted Resolution No. 2025-14 on October 7th <br />2025 approving the final plat and final PUD plan for Inwood Townhomes 1st Addition (the <br />"Resolution"); 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 Inwood Townhomes 1't Addition and <br />authorizes the Mayor and City Clerk to execute it. The City Attorney is authorized to <br />insert improvement costs as approved by the City and modify Exhibit B of the <br />Development Agreement as needed. <br />Passed and duly adopted this 21st day of October 2025 by the City Council of the City of Lake <br />Elmo, Minnesota. <br />ATTEST: <br />ulie hnso)!!9K Clerk <br />1 <br />Charles Cadenhead, Mayor/ <br />