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L <br />FACTORS CONSIDERED IN FORMULATION OF <br />REALIFE COOPERATIVE OF MOUNDS VIEW RESIDENTIAL DEVELOPMENT <br />The information contained in this development narrative, together with the development plans <br />for Realife Cooperative of Mounds View Inc. ( "Realife "), have been prepared taking into <br />consideration the following: <br />1. The location and boundaries of the site located within the Silverview Estates PUD generally <br />southeast of the intersection of Trunk Highway 10 and Silver Lake Road on property legally <br />described in the accompanying development applications (the "Property"); <br />2. Existing zoning and land uses surrounding the Property; <br />3. Existing characteristics of the Property; <br />4. The Mounds View Comprehensive Plan (District 1); <br />5. The effect of the development on the regional and local roadway network; <br />Applicant's Interest <br />Realife Cooperative of Mounds View, Inc. ( "Realife ") is the developer pursuant to a purchase <br />agreement with the fee owners. <br />II. <br />THE PROPERTY <br />Property Location and Boundaries <br />The Silverview Estates PUD Plan is a "wedge- shaped" layout generally bounded by Highway 10, <br />Silver Lake Road and the right of way for the St. Paul Waterworks (immediately north of County <br />Road I). <br />III. <br />DESCRIPTION OF THE PROPOSED <br />REALIFE COOPERATIVE OF MOUNDS VIEW <br />Senior Housings Cooperative <br />The proposed senior housing cooperative (the "Project ") offers people 62 years and older a <br />housing alternative that is becoming increasingly more popular, that is, cooperative living. <br />Cooperative housing is the ownership and operation of a housing development by those who live <br />in it. It is a not - for- profit cooperative corporation with specially designed "Articles of <br />Incorporation" and By- Laws." <br />3. <br />