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EXHIBIT I <br />DESCRIPTION OF THE MINIMUM IMPROVEMENTS <br />An approximately 230 unit, luxury, four story, rental apartment project, consisting of <br />approximately fourteen (14) two -story townhomes, with two levels of flats above, and the <br />balance of the units will be configured as four levels of flats that will wrap around the future <br />parking garage expansion. All parking for the residential units will be in the parking garage, <br />with the exception of the townhome units, which will have their own garage for each unit. The <br />project will include not less than 3,000 sq. ft. of retail space, located on the first floor in the <br />space closest to the Ramsey City Hall. <br />Amenities for the residential units shall include a fitness center with cardio theatre and tanning <br />bed, business center, cyber cafe, game room, courtyards, and a resort style pool. Additionally, <br />all units will have their own washer and dryer. Architecturally, The Residence will combine <br />urban architecture with components that exist in THE COR project today. The building will be <br />Type V Construction, wood framed, with the facade consisting of brick, stone elements, and <br />cement board. The roof will be a "flat roof' to further pronounce the urban nature of the <br />architecture. All or most HVAC units will be rooftop mounted units so to best screen from street <br />level site lines_ <br />2695614v62 <br />441V2-2117/10 <br />117/10 <br />I -1 <br />