Rk Development

July 15,2009 Ms. ElizabethFritzen TownshipClerk MaplewoodMunicipalBuilding 574Valley Street Maplewood,NJ 07040

DearMs. Fritzen R-K DevelopmentCo{porationis pleasedto submittlis responseto the Townshipof Maplewoodfor the Requestfor Ietters of Interestfor 125Dunnell Road. Our company's qualificationsandfinancialstrengthuniquelypositionus to completethis development projectasa first classresidentialcommunity.ln addition,we havetheproject of 125 management expertiseandmarketingcapabilitythatwouldensurethesuccess Dunnell Street. The exactprograrnwill be determinedoncea thoroughmarketandsite analysisis conducted,andwe arecornmittedto achievingarchitecturalandurbandesign excellencethat befits that initiative. We Iook forwardto further discussingwith you this excitingproject.

Sincerely,

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William J. Rosato

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Mike Keltz

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CORPORATEINFORMATION R-K DevelopmentCorporation William J. Rosato Mike Keltz 1130AdamsStreet Hoboken,NJ 07030 (201)410-8370 (911)923-1490 I'vmffiCofftcl-'oY--., r\r\!vYervvr

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teammemberslistedbelowarecunentlyexecutives The development of Tanagon DevelopmentCorporationandprincipalsof R-K Development Corporation.Both will be activelyengagedin theexecutionof theprojectandcornrnitted to ensurethatthe 125 DunnellRoadprojectis completedsuccessfully andto thehighestpossiblestandards for theTownshipof Maplewood. Willianr J. Rosato Presidentof Tarragon DevelopmentCorporation William J. Rosatois a PrincipalandFoundingMemberof R-K Development Cotporation, a companyformedin 2009. He is alsoPresidentof TanagonDevelopment whereheis responsible Corporation, for managingtheCompany'sdevelopment activities.He alsoservesasExecutiveVice Presidentof Development andExecutiveVice Presidentof Construction for Tarragon joined Corporation.Mr. Rosato thecompanyin October2003. He previouslyservedas SeniorVice Presidentfor TarragonCorporationandTarragonDevelopmentCorporation from February2005throughFebruary2007and asDirector of Constructionfrom October2003throughFebruary2005.Beforejoining Tarragon,Mr. Rosatomanaged development activitiesin theNew York metropolitanareafor LincolnPropertyCompany. Priorto thathe heldpositionsin theNew York officesofBovis LendLeaseand SkidmoreOwingsandMenill. Mr. Rosatoreceive{his BA andMasterof Architecture degreesfrom the Universityof Pennsylvania. He is a memberof theAmericanInstitute of Architectsanda licensedarchitectin thestateof New York. Mr. Rosatois a member of the UrbanLandInstituteandtheNationalAssociationof HomeBuilders,andhe currentlyserveson theBoardof Visitorsadvisorycouncilto theSchoolof Architecture for the New JerseylnstituteofTechnology.

Mike Kehz Vice President of Tarragon Developntent Corporation Mike Keltz is a Principal and Founding Member of R-K DevelopmentCorporation,a company formed in 2009. He also currently servesas a Vice Presidontof TarragonDevelopmentCorporation.Since joining Tarragon Corporationin January2006, Mr. Keltz has continuedhis careerin managingluxury high-rise,multi-family residentiaiconstruction.His most recently completedprojects,found on New Jersey'sGold Coast;include One HudsonPark in Edgewater,New Jerseyand Trio in PalisadesPark, New Jersey.Mr. Keltz is currently managingthe developmentand constructionof 800 Madison in Hoboken,New Jersey and the pre-constructionand developmentof900 Monroe in Hoboken,New Jersey.Prior to joining Tanagon, Mr. Keltz was a project managerwith Bovis Lend Leasewhere he managedconstructionprojects and provided pre-constructionservicesfor large projects in the New York metropolitanarea.His project experienceconsistsof luxury single family and multi-family residential,office, retail, correctionalfacilities, public park projects,and rail yard site work projects.Mr. Keltz has also held positionswith site work contractorsand wood framing specialist.Mr. Keltz receivedhis Bachelorof Science degreefrom the University of Scrantonand will be receiving and MBA from SetonHall University in 2010. DESCRIPTION AND APPROACH FOR THE PROJECT Mr. Rosatoand Mr. Keltz place high value on architectureand design. Our projects respondto the uniquenessof their context. Our designersare recognizedexpertsin their fields and strive to ensureprojects accuratelyreflect local architectureand character. Many of our signatureprojects at Tarragonhave won awardsand recognition. We were recently recognizedwith three awardsfrom the National Associationof Homebuilders' 22"'Annual Best in American Living Awards (BALA) program,the nation's foremost residentialdesign award competition. .

Tarragon's Upper Grand Community in Hoboken,New Jerseywas the Silver Award winner for Best Urban Smart Growth Neighborhood./Community.

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The Edenville unit in Tarragon'sWarwick Grove in Warwick, New York was the Gold Award winner for Best Single-Family DetachedHome and Warwick Grove also won the award foi Best in the North Arlantic Regron.

We foster and encouragedialoguewith community stakeholders,and recognizethat 1oca1 perspectivesare essentialin crafting projectswe can be proud of. The unique location of 125 Dunnell Road, acrossfrom Memorial Park and down the streetfrom Maplewood train station,will inform the design of our project and result in a great addition and amenity to the neighborhood,complementingwhat is alreadythere.

EXP E RI E N CE AND QUA LIF ICATI ON S The Upper Grandin Hoboken,New Jersey,is the bestexampleof R-K Development's design and constructionexperiencemost relevantto 125 Dunnell Road. Mr. Rosatoand Mr. Keltz are the developmentexecutivesin chargeofTanagon's Upper Grand developmentin Hoboken, New Jersey,a 1500residentialunit developmentin Hoboken's Norlhwest RedevelopmentDistrict. Upper Grand is an outstandingand award winning example of a Smart Growth community, plannedon principles embracedby the New JerseyStatePlan. To date, six buildings in the district, krown as 800 Madison, 1000 Jefferson,1100Adams, 1118Adams, 1200Grandand 1300Grand,arecompleted,or near completion, designedin an attractiveurban,row-housestyle. Providing affordablehousing is an essentialcomponentof the Upper Grand project. To date,90units of affordablehousingarecompleteat 1118AdamsStreet.Significantly, the affordable housing is built to the samehigh-endstandardsas the market rate for-sale buildings and is seamlesslyintegratedinto this new community. 1118Adams is the first LIHTC building in Hoboken and the first subsidizedproject to be built there for families in decades.It is also the first job to provide first class amenities,including underground parking, 2 bathroomsin every apaltment,9 foot ceiling and private outdoor space. AIso notableis 1I 18 Adams Street'sincorporationof Green Building and Sustainable Design standards.The "greenest"of any Upper Grand's buildings, 1118Adams Streetis setting the standardfor sustainabilityin Hoboken. No expensewas sparedto incorporate greenfeaturessuch as high-efficiency appliancesand SEER 13 HVAC system;low Volatile Organic Compoundsmaterialsfor interior cabinets,carpetand paint; highperformancewindows and extensiveinsulation to ensureenergyconservation. 1118 Adams Streetis certified undet'New JerseyGreen and Energy Star programs. Upper Grand has brought significant economicdevelopmentbenefitsto the City of Hoboken, strengtheningits tax baseand creatingnumerousjobs in such sectorsas construction,propefty management,landscaping,retail and community services. Perfectly integratedinto the fabric of Hoboken, Upper Grand is a new paradigmfor mixed-useliving in New Jersey,offering residentsthe best in housingdesign,community amenitiesand inter-modal transit connections,with stunningviews of midtown Manhattan. *See attachedphotos of completedNew JerseyDevelopments FINANCIAL

CAPACITY

Throughvariouspartnerships R-K Developmenthasthe financiaLstrengthand availability of capital to completethis project successfully.

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