1205 CRAFTSMAN WAY HERITAGE MARINE ELECTRICAL 2022-01-14

AMENDED AND RESTATED DEVELOPMENT AGREEMENT THIS AMENDED AND RESTATED DEVELOPMENT AGREEMENT (thus "Agreement") is entered into on. this 21't day of January 2015, by and between the Port of Everett, a. Washington Port District. (hereinafter the "Port") and the City of Everett, a municipal corporation under the laws of the State of Washington (hereinafter the "City"). RECITALS 1. The Pori is the owner of property located in the City's central harborfront area containing :approximately 119.62 acres of uplands and water., the legal description of which is contained in Section 2.2 (the " Property"): 2. The Property includes the central portion of the Port's existing Marina, including the Central Marina water area and buildings leased to the Everett Yacht Club and Milltown Sailing Club,, and Port `operated boat Haul -out and washdown facilities, 'boat repair. work yards, and 'maintenance shop, impound yard., and net shed. 3. In 2005, the Port wished to develop -the Property as the North Marina Redevelopment Project ('1NNMP"). The NMRP planned development -overlay was approved by the City in 2005; along with the Development, Agreement by and between the City and the Port dated .December 29, 2095 (!hp "200,5 Deyelopnte xt Agreeaiaeni" ). The NNiKP wa$ a multi -district, multi -phase .master planned effort to create a new mi ed-use development on the site. 4. Because of economic ch:cumstances, the Port has revised. the NMRP. As revised, the NNW is renamed W.Oerfroiit Place Central. 5. Accordingly, the Port desires to modify the 2005 .planned development overlay and the 2005 Development Agreement in accordance with its Waterfront Place Central plans. 6. Waterfront Place Central maintains the heights and densities approved by the City Council in 2005. 7. The Waterfront Place Central is consistent with and would implement the goals and policies of the Everett Comprehensive Plan. S. Waterfront Place Central is consistent with the Port's Comprehensive Schemo of Harbor Improvements and Pott Resolution No. 994.