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2 <br />establishment of development standards, and on-site improvements and uses facilitated by the <br />planned development overlay process. <br />I. The anticipated Project development schedule intends that all Project elements will be <br />completed within 20 years from the effective date of this Agreement. However, due to the <br />different construction schedules and time frames for individual parts of the Park District, the <br />Project will be phased, with each phase proceeding forward at different construction start times <br />and completed at different times. <br />J. The City Council approved the EHA petition for street vacation and dedication for the Park <br />District on February 7, 2024. <br />K. The City Council’s decision on this development agreement and the planned development <br />overlay are legislative actions. EMC 15.03.200(B) requires that a public hearing be held before <br />consideration and approval of a development agreement, and that the public hearing be held in <br />conjunction with the underlying land use action. The proposed planned development overlay is <br />the underlying land use action, and this Agreement relate to EHA's application for this land use <br />action. The Planning Commission held a public hearing on the proposed planned development <br />overlay on February 20, 2024, continued to March 3, 2024, with recommendation dated March <br />3, 2024. The City Council held a public hearing on the proposed planned development overlay <br />and this Agreement on July 10, 2024. <br />L. On July 10, 2024. the Everett City Council adopted Ordinance No. 4034-24 (the “PDO <br />Ordinance”) establishing the planned development overlay for the Park District (the “PDO”) and <br />authorizing execution of this Agreement. <br />M. The parties agree that, as set forth in this Agreement and the PDO Ordinance, EHA’s proposed <br />development of the Property satisfies the criteria for approval of alternative development <br />standards under EMC 19.29.050.C. <br />N. The City Council approved the PDO Ordinance in part based on findings that: <br />1. The preliminary development plan for the Park District attached to the PDO Ordinance as <br />Exhibit C (the “Preliminary Development Plan”) is consistent with the City’s vision for <br />providing housing and services in Everett. <br />2. The Park District is consistent with and would implement the goals and policies of the <br />Everett Comprehensive Plan, the Everett Climate Action Plan, and the Everett Housing <br />Action Plan. <br />3. The Property is compatible with the Park District Design Standards set forth in the PDO in <br />Exhibit A.2. In addition, the policies of the Comprehensive Plan pertaining to <br />compatibility of land uses, housing, economic development, transportation, climate <br />change and sustainability, and urban design were considered in the design of the Project. <br />4. The Park District PDO bears a substantial relation to public health, safety or welfare; and <br />promotes the best long-term interests of the Everett community.