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I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br />I <br />I <br />I <br />I <br />I <br /> <br />CttESTNUT HILL 3RD ADDITION DEVELOPMENT AGREEMENT <br /> <br /> CITY OF RAMSEY <br />ANOKA COUNTY, MINNESOTA <br /> <br /> Tills AGREEMENT, made and entered into by and between the CITY OF <br />RAMSEY, a: municipal corporation of the State of Minnesota (the "CITY"), and GOOD <br />¥'ALUE HOMES, INC., a Minnesota corporation, whose address is 1460 93rd LaNe N.E., <br />Blaine, Minnesota 55434 (the "DEVELOPER"). <br /> <br /> WITNESSETH: <br /> WHERE~S, the DEVELOPER is the fee owner of the following described property <br />situated in the CITY OF RAMSEY, County of Anoka, State of Minnesota, and legally described <br />as follows upon recording of the plat: <br /> <br />Lots 1, 2, 3, 4, 5, 6, 7, 8, 9 and 10, Block 1; Lots 1, 2 and 3, Block 2; and Lots 1, 2, 3, <br />4, 5, 6(7 and 8, Block 3' and Outlot A, Chestnut HiI1 3rd Addition, Anoka CounD,, State <br />of MinnesOta. <br /> <br /> WHEREA'S. on November 10, ~oc~o pursuant to Resolution No. 92-t1- the CITY <br />has approved the final plat of the Subject Property which plat is known as CHESTNUT HILL <br />3RD ADDITION (the "Plat"), which approval is contingent on certain requirements, including <br />DEVELOPER an~t CITY entering into this A~eement: and <br /> WHEREAS, the CITY established Development District No. 1 and Tax Increment <br />Financing Disl:rict No. 5 pursuant to the authority ~anted in Minnesota Statutes Sections 469.!2-: <br />through 469.134 and Section 469. i'7.~ through 469.i79 t coliecfiveiy the "Acts"), both of which <br />dismzts incorporate: the subject propertS.'; and <br /> WHERE.4'S. ~ursuan: to ti-,~. .&rcs. the CITY has aciopte~ a Deveiopmen; Dismzr <br />Pro,am and z To,'/in~emgm Financing Plan to finance alt or a pomon of the public improvemem <br />deveioament costs Of me Deveior~men: Dismz:: and <br /> WHEREAS. the extension o:' sewer and water to the Subject Prope~wy ;;'as accomvtished <br />wire m'~ Stage:! improvemen= in Chasm.. Hill: ~d <br /> wHERE~S, a n'unk usage charge is rermired by the CITY for usage of its Trunk Sewer <br />and Water System.: whic~ cha~'-ge is S 2357 ~er residential unit created: and <br />WHEREAs. no exvenditur: o! CITY funds, including the orcienng of plans and <br />S~e2:.*~.Z.~O,~S. ":~' ' ~ ~ ' ' ' <br />DEVELO PER: znc <br /> <br /> <br />