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Description of the Project: <br />The proposed improvements consist of 78 assisted living (AL) units and 24 memory care (MC), for a <br />total of 102 apartment units contained in two connected wood -framed buildings. Structures include a two-story AL <br />apartment building with 89,792 +/- square feet connected to a one-story MC facility with 20,246+/- square feet. (The mix <br />of studio, one -bedroom and two -bedroom unit plans will be determined as we complete the building design phase.) Other <br />areas of the AL building will consist of administrative offices, community dining room, commercial kitchen, storage, <br />spacious lobby with concierge desk, multipurpose lounge area for activities and gatherings, fully equipped fitness room <br />with programming, a beauty salon, a grand bath spa, restrooms and elevators. The MC building, which is connected to the <br />AL and located on one level, consists of 24 studio units, grand bath spa, laundry, restrooms, serving kitchen, activity <br />space, and resident dining area. Exterior features include covered/screened patio, walking trails, secured patio with <br />pergola and porte-cochere, along with parking for 95 cars (6 AL tuck under stalls, 74 AL surface stalls plus 15 MC <br />surface stalls), all situated on 4.14 +/- acres. <br />This community will be professionally managed by Lifespark, an industry leader in senior care for <br />over 20 years, and is headquartered in St. Louis Park, MN. Lifespark has developed an innovative "Complete Senior <br />Health" model that transforms the lives of seniors by enabling them to "Age Magnificently". Lifespark has been <br />recognized for its exceptional award -winning workplace culture, achieving Minneapolis -Saint Paul Business Journal's <br />Best Places to Work three times, and Star Tribune's Meaningful Award. They have also earned Top USA rankings three <br />times, and in 2021 ranked as the #1 Healthcare Workplace for Top USA. <br />Site Plan and Preliminary Architectural Drawings: <br />A preliminary site plan is included with this narrative. St. Cloud -based Cole Group Architects has <br />extensive experience in senior living design and function. Cole Group has designed over 4,000 senior housing units <br />across multiple states. Cole Group is well versed in the current building and life safety codes specific to housing -with - <br />services use. <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 apartments, 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 />Page 2 of 3 <br />