Riverfront Commercial Investment PNW Riverfro 5/14/2019 Amendment 2

I-t Timely development of the Riverfront Project is in the City's best interest. The amendments contained in the Second Amendment will allow Developer to proceed immediately with development of.a project that is both.economically viable in the current market and consistent with the City's original vision for the project NOW,THEREFORE,the City Council adopts the foregoing recitals as its findings,and the City Council therefore concludes the following: I. The amendments in the Second Amendment to Development Agreement approved by this Ordinance follow and are based an an appropriate land use and environmental > review process that has included meaningful opportunities for publicparticipation; .and 2. The proposed changes to the Planned Development Overlay zone and Development Agreement,and the resultant master plan for the Landfill site: a. promote the best long term interests of the man:au ity and satisfy the criteria of EMC 19_29.05O.C; b. are consistent with the Everett Growth Management Comprehensive-Plan; and •c. bear a substantial relation to the public health,safety and welfare,implement conditions established in the original master plan and mitigation required in the revised EIS,which mitigates potential adverse irnpants upon existing and anticipated land uses in the immediate vicinity of the subject property. NOW,THEREFORE,THE CITY OF EVERETT DOES ORDAIN= Section I: Approval of Second Amendment to Development Agreement The Second Amendment is approved.and the Mayor is authorized to-execute the Second Amendment substantially in the form as provided in Exhibit 1. Section_2: Corrections. The City Clerk and the codifiers of this Ordinance(including exhibits and attachments)are authorized to make necessary corrections to this Ordinance including,but not limited to,the correction of scriveners/clerical errors,references,ordinance numbering,section/subsection number and any references thereto. Section.3.: Severability. Should any section,paragraph,clause or phrase of this Ordinance,or its application to any person or circumstance,be declared unconstitutional or otherwise invalid for any reason,or should any portion of 2