July 15,2009

Ms. Elizabeth FritzenTownship ClerkMaplewood Municipal Building574 Valley StreetMaplewood, NJ 07040

Dear Ms. Fritzen

R-K Development Co{poration is pleased to submit tlis response to the Township ofMaplewood for the Request for Ietters of Interest for 125 Dunnell Road. Our company'sdevelopment qualifications and financial strength uniquely position us to complete thisproject as a first class residential community. ln addition, we have the projectmanagement expertise and marketing capability that would ensure the success of 125Dunnell Street. The exact prograrn will be determined once a thorough market and siteanalysis is conducted, and we are cornmitted to achieving architectural and urban designexcellence that befits that initiative. We Iook forward to further discussing with you thisexciting project.

Sincerely, a.'\ilI t r ' - - ,lL, ' / \William J. Rosato Mike Keltz

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CORPORATE INFORMATION

R-K Development CorporationWilliam J. RosatoMike Keltz1 130 Adams StreetHoboken, NJ 07030(201) 410-8370(911) 923-1490 , .. ,. /

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KEY PERSONNEL

The development team members listed below are cunently executives of TanagonDevelopment Corporation and principals of R-K Development Corporation. Both will beactively engaged in the execution of the project and cornrnitted to ensure that the 125Dunnell Road project is completed successfully and to the highest possible standards forthe Township of Maplewood.

Willianr J. Rosato

President of Tarragon Dev elopment Corp oration

William J. Rosato is a Principal and Founding Member of R-K Development Cotporation,a company formed in 2009.He is also President of Tanagon Development Corporation, where he is responsible formanaging the Company's development activities. He also serves as Executive VicePresident of Development and Executive Vice President of Construction for TarragonCorporation. Mr. Rosato joined the company in October 2003. He previously served asSenior Vice President for Tarragon Corporation and Tarragon Development Corporationfrom February 2005 through February 2007 and as Director of Construction fromOctober 2003 through February 2005. Before joining Tarragon, Mr. Rosato manageddevelopment activities in the New York metropolitan area for Lincoln Property Company.Prior to that he held positions in the New York offices ofBovis Lend Lease andSkidmore Owings and Menill. Mr. Rosato receive{ his BA and Master of Architecturedegrees from the University of Pennsylvania. He is a member of the American Instituteof Architects and a licensed architect in the state of New York. Mr. Rosato is a memberof the Urban Land Institute and the National Association of Home Builders, and hecurrently serves on the Board of Visitors advisory council to the School of Architecturefor the New Jersey lnstitute ofTechnology.

Mike Kehz

Vice President of Tarragon Developntent Corporation

Mike Keltz is a Principal and Founding Member of R-K Development Corporation, acompany formed in 2009.He also currently serves as a Vice Presidont of Tarragon Development Corporation. Sincejoining Tarragon Corporation in January 2006, Mr. Keltz has continued his career inmanaging luxury high-rise, multi-family residentiai construction. His most recentlycompleted projects, found on New Jersey's Gold Coast; include One Hudson Park inEdgewater, New Jersey and Trio in Palisades Park, New Jersey. Mr. Keltz is currentlymanaging the development and construction of 800 Madison in Hoboken, New Jerseyand the pre-construction and development of900 Monroe in Hoboken, New Jersey. Priorto joining Tanagon, Mr. Keltz was a project manager with Bovis Lend Lease where hemanaged construction projects and provided pre-construction services for large projectsin the New York metropolitan area. His project experience consists of luxury singlefamily and multi-family residential, office, retail, correctional facilities, public parkprojects, and rail yard site work projects. Mr. Keltz has also held positions with site workcontractors and wood framing specialist. Mr. Keltz received his Bachelor of Sciencedegree from the University of Scranton and will be receiving and MBA from Seton HallUniversity in 2010.

DESCRIPTION AND APPROACH FOR THE PROJECT

Mr. Rosato and Mr. Keltz place high value on architecture and design. Our projectsrespond to the uniqueness of their context. Our designers are recognized experts in theirfields and strive to ensure projects accurately reflect local architecture and character.Many of our signature projects at Tarragon have won awards and recognition. We wererecently recognized with three awards from the National Association of Homebuilders'22"'Annual Best in American Living Awards (BALA) program, the nation's foremostresidential design award competition.

. Tarragon's Upper Grand Community in Hoboken, New Jersey was the SilverAward winner for Best Urban Smart Growth Neighborhood./Community.

o The Edenville unit in Tarragon's Warwick Grove in Warwick, New York was theGold Award winner for Best Single-Family Detached Home and Warwick Grovealso won the award foi Best in the North Arlantic Regron.

We foster and encourage dialogue with community stakeholders, and recognize that 1oca1perspectives are essential in crafting projects we can be proud of. The unique location of125 Dunnell Road, across from Memorial Park and down the street from Maplewoodtrain station, will inform the design of our project and result in a great addition andamenity to the neighborhood, complementing what is already there.

EXP E RI E N CE AND QUA LIF ICATI O N S

The Upper Grand in Hoboken, New Jersey, is the best example of R-K Development'sdesign and construction experience most relevant to 125 Dunnell Road. Mr. Rosato andMr. Keltz are the development executives in charge ofTanagon's Upper Granddevelopment in Hoboken, New Jersey, a 1500 residential unit development in Hoboken'sNorlhwest Redevelopment District. Upper Grand is an outstanding and award winningexample of a Smart Growth community, planned on principles embraced by the NewJersey State Plan. To date, six buildings in the district, krown as 800 Madison, 1000Jefferson, 1100 Adams, 1118 Adams, 1200 Grand and 1300 Grand, are completed, ornear completion, designed in an attractive urban, row-house style.

Providing affordable housing is an essential component of the Upper Grand project. Todate,90 units of affordable housing are complete at 1118 Adams Street. Significantly,the affordable housing is built to the same high-end standards as the market rate for-salebuildings and is seamlessly integrated into this new community. 1118 Adams is the firstLIHTC building in Hoboken and the first subsidized project to be built there for familiesin decades. It is also the first job to provide first class amenities, including undergroundparking, 2 bathrooms in every apaltment, 9 foot ceiling and private outdoor space.

AIso notable is 1 I 18 Adams Street's incorporation of Green Building and SustainableDesign standards. The "greenest" of any Upper Grand's buildings, 1118 Adams Street issetting the standard for sustainability in Hoboken. No expense was spared to incorporategreen features such as high-efficiency appliances and SEER 13 HVAC system; lowVolatile Organic Compounds materials for interior cabinets, carpet and paint; high-performance windows and extensive insulation to ensure energy conservation. 1 1 18Adams Street is certified undet' New Jersey Green and Energy Star programs.

Upper Grand has brought significant economic development benefits to the City ofHoboken, strengthening its tax base and creating numerous jobs in such sectors asconstruction, propefty management, landscaping, retail and community services.Perfectly integrated into the fabric of Hoboken, Upper Grand is a new paradigm formixed-use living in New Jersey, offering residents the best in housing design, communityamenities and inter-modal transit connections, with stunning views of midtownManhattan.

*See attached photos of completed New Jersey Developments

FINANCIAL CAPACITY

Through various partnerships R-K Development has the financiaL strength andavailability of capital to complete this project successfully.

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