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1 <br /> <br />PARK DISTRICT DEVELOPMENT AGREEMENT <br />THIS PARK DISTRICT DEVELOPMENT AGREEMENT (this “Agreement”) is entered into as of the <br />effective date stated below, by and between the CITY OF EVERETT, a Washington municipal corporation <br />(the “City”) and HOUSING AUTHORITY OF THE CITY OF EVERETT, a body corporate and politic of the <br />State of Washington (the “EHA”). <br />RECITALS <br />A. The EHA owns or controls the property located in the Delta neighborhood of north Everett <br />containing approximately 16 acres of land, the legal description of which is contained in Exhibit A <br />to this Agreement (the “Property”). <br />B. The Property was first developed in the 1940’s as public housing, known as Baker Heights, to <br />support war efforts. Baker Heights was decommissioned in 2019, and the site has been vacant <br />since that time. <br />C. The EHA wishes to develop the Property with a planned development called the “Park District” <br />(sometimes also referred to in this Agreement as the “Project”). <br />D. The Park District is a multi-phase project to create a new mixed-income, mixed-use <br />development on the Property. The Project plans to contain approximately 1,500 dwelling units, <br />70,000 gross square feet of non-residential uses, 1.5 acres of publicly accessible park area, and a <br />community garden. <br />E. The Park District Project includes, among other things, an amendment to the Everett 2015-2035 <br />Comprehensive Plan, a planned development overlay, and a reconfiguration of lots and public <br />rights-of-way. <br />F. The Park District is consistent with and would implement the goals and policies of the <br />“Affordable Housing for All” Mayoral directive, the Everett Comprehensive Plan, the Everett <br />Rethink Housing Action Plan, and the Everett Climate Action Plan. <br />G. The Project’s planned development overlay, the associated preliminary development plan, and <br />this Agreement together describe Project development, including without limitation the location <br />of structures and features to be used in the design of improvements to be developed and <br />incorporated into the Property. This Agreement contains, among other items, the review <br />procedures to be used as more detailed designs become available and further requires that such <br />review take place before issuance of building permits for individual project elements. <br />H. This Agreement together with the Project planned development overlay sets forth development <br />standards, requirements, and guidelines through which EHA intends to develop the Property in <br />an innovative manner, which will be beneficial to the community. The intent is to provide for a <br />high-quality development, which will benefit the City more than would a development strictly in <br />accordance with current underlying zoning standards. The public will be benefited by the