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CENTRA HOMES <br />June 26, 2023 <br />To: City of Ramsey <br />Re: Executive Summary for Offer and Concept of "Parcel 46' <br />We are excited to present the City with an offer to purchase a portion of Parcel 46 for: <br />• $ 640,O00 for approximately 16.3 Acres that are planned to become a residential <br />neighborhood, the Future Cornrnercial comer is not part of this offer, <br />We have made the following high-level changes and assumptions since our proposal submitted <br />an May 1st: <br />• This offer price contemplates the Developer contributing an additional 256,600 to the <br />Ramsey Parkway construction costs as defined by City Staff AND constructing a trail <br />from the edge of the residential neighborhood to the corner of Armstrong Blvd and <br />Bunker Lake Blvd. Both of these costs are technically 'off -site' but we felt both of these <br />options are beneficial to the overall site. <br />▪ In review with the Consultant that completed the Wetland Review, the 'Historical' wetland <br />as described in their report will be difficult to convince the Regulators to allow filling. <br />Thus this plan substantially avoids these 'Historical' wetlands. <br />• Centro commits to work with market connections for a potential end user for the future <br />Commercial Corner as detailed in Concept #1. This Concept Plan shows only one idea <br />of how this corner might develop, the end user and City Staff will ultimately decide how <br />this area will develop. <br />• If Centre is able to find an end use, a proposal will be brought forward! to purchase and <br />develop this corner. If no end user for commercial use can be found over the next two <br />years, Centro will bring forward a proposal to develop this corner into additional <br />residential homes as shown by Concept 42 submitted with this offer. <br />• The housing plans (see included proposed Elevations) are similar to the hornes built in <br />the Cottages at the COR neighborhood at the corner of Bunker Lake and Ramsey Blvd_ <br />These homes meet the Architectural Guidelines (COR4 Sub -District Framework) as <br />described in 'The COR Design Framework' with Prominent Front Entrances, Walkways <br />and Alleys in lieu of Driveways, <br />• A more detailed narrative of the Concept Plans are provided in a separate document. <br />We look forward to working with the City Stakeholders to bring forward this neighborhood, <br />