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Section 2.05. Construction of the New Facility. Developer shall meet the following <br />minimum requirements for construction of the New Facility and development of the Land: <br />a. Land and Improvement Value. Upon completion of the New Facility, <br />the Land and improvements thereon shall attain a Hays County Appraisal District tax <br />assessed value for real property and improvements of at least $27,000,000.00. <br />b. Building and Site Specifications. The New Facility shall include least <br />200,000 square feet of building space, 257 residential units and 593 beds, together with <br />such other amenities and improvements as depicted in, and in substantial accordance with <br />the design, plans, specifications and elevations in Exhibit "B ", attached hereto and made <br />a part hereof for all purposes. Any variations from the foregoing must be approved by <br />the City which approval shall not be unreasonably withheld. <br />C. Adherence to PDD Standards and Representations. Developer shall <br />adhere to and comply in all respects with the Planned Development District ( "PDD ") <br />standards and representations and all other PDD requirements as approved by the San <br />Marcos city council by Ordinance No. 2008 -50, and any future amendments thereto. <br />d. LEED Certification. The Developer shall obtain LEED certification of <br />the New Facility from the U.S. Green Building Council with a minimum rating level of at <br />least "Certified" on or before August 15, 2014. <br />e. Drainage Improvements. Developer agrees to install a storm water <br />drainage system as approved by the Director of Development Services of the City along <br />North Fredericksburg Street that will connect to the existing Hutchison Street storm water <br />inlets. Developer agrees that it shall, upon completion of the installation of such drainage <br />system, repair the length of the surface of the street within the area as depicted in Exhibit <br />Page 4 of 15 <br />ra//A <br />