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WINDSOR PARK 111 <br />A MASTER PIM.NNED OPEN SPA CE DEVELOPMENT <br /> <br />INTRODUCTION <br /> <br />Cascade I Land Company is proud to announce Windsor Park Ill, a master planned <br />open space community that will follow the conventional planning and design of <br />Windsor Park I & II and the Ridges of Rice Lake in Elk River. By setting homes <br />away from busy roads and designing walk out lots that are adjacent to open space <br />with scenic views, parks, and trail systems, Windsor Park III will be another quality <br />residential development in Elk River. <br /> <br />In Windsor Park III over 70 lots are full basement walkouts and over 90 lots are <br />adjacent to natural open space areas. <br /> <br />Contingent upon plat approval, construction will begin in the spring of 2002 and <br />completed by the fall of 2002. Home construction would begin in the late summer of <br />2002 and is expected to continue for 2-3 years. Windsor Park III will maintain the <br />excellence of design of Windsor Park I & II, which has received statewide <br />recognition and was recently featured in the Minnesota Land Trust's brochure for <br />innovative sustainable development. In addition, Windsor Park recently won a <br />"Bennie Award" by the Builder's Association of the Twin Cities for best new <br />neighborhood. <br /> <br />DENS1TY FORMULA PER SUBDMSION ORDINANCE <br /> <br />A. 2.5-acre zoning density with incentives yields 85 lots on 158 acres. <br />B. 10-acre zoning density with incentives yields 7 lots on 34.5 acres. <br /> <br /> * The calculations are attached as ExhibR A. <br /> <br />RATIONALE FOR DENSITY <br /> <br />A. Base Density with Community Sewer <br /> <br />This is based on 159 acres x the 1.15 formula per ordinance and 34.54 <br />acres in the 1 O-acre zoning district. All homes would be located in the 2 <br />½ acre district, with the exception of one larger lot created in the 10 acre <br />district on the north side of County Road 33 to allow for an existing home <br />to remain on a conforming lot. <br /> <br />B. Endowment <br /> <br />An endowment fund will be created for the Homeowner's Association for <br />the open space per ordinance requirements. <br /> <br /> <br />