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LB RAMSEY MN OWNER,LLC (dba Lightbridge Academy) <br /> DEVELOPMENT AGREEMENT <br /> CITY OF RAMSEY, ANOKA COUNTY,MINNESOTA <br /> This Agreement(hereinafter the"Agreement") is dated as of this 9th day of April, 2024, and is by <br /> and between the City of Ramsey,a Minnesota municipal corporation(the"CITY")and LB RAMSEY MN <br /> OWNER,LLC, a limited liability corporation under the laws of Minnesota, (the"PERMITTEE"). <br /> Recitals <br /> A. The PERMITTEE is the fee title owner of land generally known as 14275 St. Francis Boulevard <br /> Northwest, Ramsey, MN 55303 and legally described as: <br /> Lot 1, Block 1, Lightbridge Academy, Anoka County, Minnesota. <br /> (the"Subject Property") <br /> B. That on December 18, 2023, the CITY received a Land Use Application from LB Ramsey MN <br /> Owner, LLC, (dba Lightbridge Academy), requesting a Preliminary Plat, Final Plat, and Variance <br /> to the Impervious Surfacing Regulations in the Rum River Wild& Scenic Overlay District as part <br /> of a proposal to construct a daycare facility to operate on the Subject Property, and associated site <br /> improvements (cumulatively, the"New Building"). <br /> C. That on February 13, 2024, the City Council approved the Preliminary and Final Plat for the <br /> proposed New Building. <br /> D. The PERMITTEE intends to cause the Required Improvements to the Subject Property to be <br /> constructed without financial participation by the CITY. <br /> Agreement <br /> SECTION I <br /> REQUIRED IMPROVEMENTS AND FINANCIAL RESPONSIBILITIES <br /> 1. City Code Compliance. The CITY approves the site plan (the "Site Plan") conditioned on the <br /> PERMITTEE developing the Subject Property in accordance with the applicable provisions of <br /> City Code. <br /> LB Ramsey MN Owner,LLC/Lightbridge Academy <br /> Development Agreement <br /> Page 1 of 8 <br />