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• I. <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 Housing 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 />