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o The developer will request reduced park dedication fees to correspond with the first-time buyer price point. Earnest Money: $25,000 or other amount mutually agreed upon by Buyer and Seller. • Inspection Period: 180 days from signature of Purchase Agreement. • Closing would take place following Final Plat approval. • Rezoning approval to R-2 (attached townhome) or similar. • Construction is anticipated to begin spring of 2024, with anticipated development approvals. o Two or three phases of construction depending on market conditions. o Sales pace is expected to be 2-3 homes per month. • After careful consideration, the plan will not include additional sidewalks from the rear of the buildings. Some of these considerations include: o The Capstone townhome design is a market -driven (front loaded) townhome design, featuring optimal rear yard usable green space. • This Capstone design appeals to a larger portion of the townhome market; including families, professionals and first time home buyers. • Capstone's plan is frontloaded; the front entrance located on the interior/street side of the neighborhood. • Capstone homes does not offer an urban alley load townhome. o Our neighborhood design optimizes green space. • Our greenspace design reduces impervious surface and offers over 7 acres of greenspace. • The greenspace is continuous without sidewalk separation, allowing for optimal use of the rear yard areas. o Additional sidewalks would impact price point for buyers. • Urban sidewalk design would increase construction costs and directly impact the home price (Concrete, grading, and irrigation). • Urban sidewalk design would increase HOA assessments. o Increases in both mowing and snow removal contracts. o Increase in required reserves for replacement. Parcel #46 has great development potential to enhance the comprehensive vision for the city of Ramsey. The architecture as presented, and neighborhood design fit the character of the COR and will complement well the vision the city has for the COR. The sketch plan introduced here can be the 'bookend' the city has been looking for to develop Parcel #46 within the Sunwood corridor. The attached townhome will bring increased density at eight units per acres and corresponding tax revenue desired by the city. The additional homeowners within the COR will promote walkability in the COR, entice more restaurants and retail to come into the COR. As a Ramsey based company, Capstone Homes has enjoyed working closely with city staff and elected bodies over the years to bring highly sought-after quality homes in the Brookfield, Riverstone, Riverstone South and The Preserve at Northfork neighborhoods. We look forward to working with the city staff and elected bodies once again to bring Parcel #46 to life. Best regards, Heather Lorch Land Manager Encl: Color Rendering Site Data