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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. <br /> 2 <br />