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SKYLINE ON SUNWOOD <br /> PSD,LLC <br /> DEVELOPMENT AGREEMENT <br /> CITY OF RAMSEY,ANOKA COUNTY,MINNESOTA <br /> This Agreement(hereinafter the "Agreement") is dated as of this 23rd day of July, 2024, and is by <br /> and between the City of Ramsey, a Minnesota municipal corporation (the "CITY") and RAMSEY PSD, <br /> 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 7545 Sunwood Drive <br /> Northwest, Ramsey, MN 55303 and legally described as: <br /> Lot 1, Block 1, Skyline on Sunwood, Anoka County, Minnesota. <br /> (the"Subject Property") <br /> B. That on May 13, 2024, the CITY received a Land Use Application from PSD, LLC, proposing to <br /> construct a four-story mixed residential/retail building on the Subject Property and associated site <br /> improvements (cumulatively, the "New Building"). <br /> C. That on July 9, 2024, the City Council approved the Plat and Site Plan for the proposed New <br /> 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 /> PSD,LLC/Skyline on Sunwood <br /> Development Agreement <br /> Page 1 of 8 <br />