Forterra NW 4/7/2021 - Laserfiche WebLink

DocuSign Envelope ID:A2EF1484-2A4D-4D2A-AA07-AA2DF9278F7B Wood Creek Funded Scope PROJECT SCOPE Task 1: project launch Description: Online meeting of interested parties to discuss objectives,establish principles,clarify priorities of each stakeholder group,identify a range of land use outcomes that could achieve the project objectives,identify equity issues that the project should address,identify what resources and information Forterra will need from partners to conduct its analysis,and create a project check-in and partner meeting schedule. Parties may include, but are not limited to, members of Everett city council,members of City of Everett Administration,City of Everett Public Works,Snohomish County,neighbors,Tulalip Tribes,and Forterra. Deliverable: • Memo summarizing the direction from the project launch, list of resources needed and parties responsible for providing them. Timeline: within 30 days of contract execution Task 2: geotechnical study Description: Conduct an analysis of the soils,slopes,potential hazards,and other geophysical characteristics of the property to identify what potential future land uses are feasible, recommended slope setbacks associated with those uses,and what remediation needs may exist. Deliverable: • Procurement of geotechnical research and report. Timeline: within 60 days of contract execution. Task 3: property valuation Description: Establish a current,accurate,and fair valuation of the Wood Creek property informed by the findings of the geotechnical study for the partners to understand the highest and best use value. The updated valuation will provide a benchmark for making the utility whole through subsequent real estate transactions,grants,or ecosystem service revenue. Deliverable: • Appraisal that determines a fair market value,considering conservation and recreation opportunities, development potential,and the completed geotechnical analysis. Timeline: within 90 days of completion of the geotechnical study. Task 3: design land use strategy plan Description: Through a combination of research,analysis,and engagement,Forterra will design a strategy for acquisition,ownership,and stewardship of the Wood Creek property that aims to meet the principles and objectives of the stakeholders. The strategy will include the following components: • Stakeholder input—based on input in Task 1, Forterra will engage stakeholders to gather additional feedback on desired uses,outcomes,funding mechanisms,and tradeoffs of choices in the land use strategy. This will include additional outreach to the neighbors to ensure that views presented by the surrounding community are representative. • Financing tools and funding—Forterra will evaluate a range of funding sources and tools to pay for the conservation or acquisition of the Wood Creek property,including but not limited to carbon credits, mitigation banking,grants,private investment,restoration funding,crowdfunding,development agreements,HOA,and other mechanisms. The analysis will include modeling of multiple funding scenarios.