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Site Plan and Preliminary Architectural Drawings: <br />In addition to the improvements discussed above, the current development concept contemplates two <br />distinct senior housing communities — an independent, active senior rental building, containing 84 units, fronting on <br />Sunwood Drive ("IL") and an assisted living / memory care facility offering 102 units accessed off Veteran's Drive <br />("AL/MC'). A preliminary site concept plan is included with this narrative. The TIF district will be established for the <br />AL/MC building only. The IL building will not be included in the TIF district. <br />Due to the proximity to Sunwood Drive, the IL building is intended to meet the COR Exterior Design <br />Standards and provide an attractive streetscape. The design is also intended to promote connectivity with Sunwood Drive <br />with convenient access to the building by pedestrian and vehicular traffic. The active senior residents in the IL <br />community will lend further support to the growing commercial district in Ramsey's COR district. Real estate taxes <br />generated by the IL building will not be subject to a TIF district. <br />St. Cloud -based Cole Group Architects has extensive experience in senior living design and function. <br />Cole Group has designed over 4,000 senior housing units across multiple states. Cole Group is well versed in the current <br />building and life safety codes specific to housing -with -services use. Cole Group has also designed multi -family <br />apartments within the COR district of Ramsey including Skyline on Sunwood, Park View East and Sapphire Apartments. <br />Experience of Development Company: <br />Trident Development, LLC is located in St. Cloud, MN with a dedicated team of six experienced <br />professionals. For nearly twenty years, Trident Development has successfully developed and operated multi -family <br />housing communities - for seniors and market rate rentals. Trident has completed 21 assisted living communities and <br />three independent senior living communities, accounting for nearly 2,000 senior housing units. Together with its <br />development of market -rate apatlnients, Trident has delivered nearly $1 billion in development volume as of 2025. Over <br />the past 20 years, Trident has worked with numerous Minnesota cities to arrange tax increment financing as a tool to <br />support affordable housing for low-income seniors. Trident Development, LLC is owned by Jeffrey Drown, Scott <br />O'Brien and Roger Fink. <br />Description Property Ownership and Partners: <br />Trident intends to organize a single -purpose limited liability company (LLC) for the ownership and <br />operation of the assisted living community. This LLC will become the "developer" entity named in the tax increment <br />agreement. Managing members and officers of the LLC will include executives of Trident Development. The LLC is <br />expected to include other financial partners (investors) as part of the ownership group. <br />Market Analysis: <br />Included with this narrative is a Market Assessment prepared by Viewpoint Consulting Group, Inc., dated <br />November 5, 2025. Viewpoint Consulting has been performing market demand assessments for over 15 years and is <br />widely recognized as the authority on senior housing and assisted living. In summary, the market assessment estimates a <br />market -wide, unmet need of 123 senior housing units by 2025, growing to 199 units by 2030 (assisted living and memory <br />care market rate and elderly waiver units only). <br />Preliminary Cost Budget: <br />Page 3 of 4 <br />