Everett Housing Authority 9/3/2024

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