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DEVELOPMENT AGREEMENT This DEVELOPMENT AGREEMENT (the "Agreement") is made and entered into this ? day of Jr,t,n , 2019 (the "Effective Date"), by and between MAYFIELD VILLAGE, OHIO, an Ohio Municipal Corporation, having a mailing address of 6622 Wilson Mills Rd., Mayfield Village, Ohio 44124 (the "Village") and 345 MINER ROAD LLC, an Ohio limited liability company, having a mailing address of 6317 Kenarden Drive, Highland Heights, Ohio 44143 ("Developer"). RECITALS: WHEREAS, Developer is the owner or authorized representative of approximately 12.924 acres of property located on Highland Rd. within the Village of Mayfield, Cuyahoga County, Ohio (the "Developer Property"), as more specifically set forth in the legal description attached hereto as Exhibit "A" and incorporated herein by reference; and known as Permanent Parcel Numbers 831-10-007, 831-10-021, 831-10-005, 831-10-006 and 831-10-004; and WHEREAS, the Village is the owner of approximately 3.004 acres of property located on Highland Rd. within the Village of Mayfield, Cuyahoga County, Ohio (the "Village Property"), as more specifically set forth in the legal description attached hereto as Exhibit "B" and incorporated herein by reference; and lrnown as Permanent Parcel Number 83.1-10-003; and WHEREAS, the Developer Property and the Village Property (collectively the "Development Properiy") are currently split-zoned Single-Family Residential ("SFR") and Production-Distribution District ("PDD"); and WHEREAS, Developer proposes to construct a housing development on the Development Property (the "Development"), in accordance with Chapter 1159 of the Mayfield Village Codified Ordinances ("Chapter 1159"), requiring rezoning from SFR and PDD to a Planned Residential ° Development District ("PRD"). Such rezoning is, by Village Charter, subject to a referendum vote of the electorate; and WHEREAS, the Mayfield Village 2020 Vision Plan was adopted by Council in 2004 and among certain recommended strategies identifies a planning and zoning goal to "enhance the livability of the community by encouraging new development supportive of a more pedestrian friendly and connected community through Village investments, in partnership with private developers, to provide linkages between retaiUresidential areas and to better connect residenrial to existing public facilities." The Plan further recognizes "the challenge to a built-out community like Mayfield Village is how to keep residents in the community by providing housing options to accommodate changes in the housing demand over time"; and WHEREAS, in keeping with the 2020 Vision Plan recommendations Mayfield Village enacted Chapter 1159, Planned Residential Development District, which provides in pertinent part: