8417 EVERGREEN WAY MOCHINUT 2025-08-06

Thank you for your prompt response and the detailed explanation. I am reaching out to see if we can schedule a call on either Tuesday, 11/21, or 11/22. The purpose of this call is to gain insights into the impact fee and identify ways in which we can collaborate to ensure the successful launch of Mochinut. Please let me know your availability on the suggested dates or propose an alternative time that accommodates your schedule. I look forward to our discussion and appreciate your time. Category 2: For official use only / disclosure permissible bylaw. From: Michael Brick <MBrick@everettwa.gov> Sent: Thursday, November 9, 2023 4:36 PM To: Preston Kim <PRESTON.KIM@CherngFT.com> Cc: Charlie Shen <Charlie.Shen@CherngFT.com>; Patrick Salcido <PATRICK.SALCIDO@PandaRG.com>; Justin Tran <Justin.Tran@CherngFT.com>; Ed Lodgen <Ed.Lodgen@CherngFf.com>; Beverly Kim <Beverly.Kim @CherngFT.com>; Arica Turpin <Arica.Rod riguez@CherngFT.com>; Berenice Su <BERENICE.SU@CherngFT.com>; Tawnya Herman <THerman @everettwa.gov> Subject: RE: [EXTERNAL] Hi Michael- Everett- WA- 8417 Evergreen Way- Mochinut Do You Recognize This Sender? Report Suspicious You have not previously engaged with this sender. Category 2: Sensitive information Preston, Thank you for reaching out to me with your questions about traffic mitigation. I understand that the traffic mitigation dollar amount of $181,670 is quite high and I'm happy to work with you and your prospective tenant to figure out if the fee can be reduced. This particular location was a bit tricky to figure out and I'm happy to walk you through the calculations that arrived at the traffic mitigation fee estimate that I provided for the proposed tenant improvements. The fee calculation process is explained below, with the step-by-step calculations shown below that. The City of Everett charges traffic mitigation fees for new development within the City at a rate of $4,993 per new PM Peak Hour (e.g. afternoon rush hour) trip to or from the development. This rate was increased from $2,400 in 2020 to $4,993 in 2023, and is now adjusted annually to account for inflation. The City calculates a preliminary traffic mitigation fee based on this rate and on published Institute of Transportation Engineers (ITE) data for various land uses. In this case "Fast Food without Drive Thru" was the best fit in the City's standard toolkit for estimating traffic mitigation. Per a nation-wide study of traffic associated with fast food restaurants a "typical" fast food establishment generates about 26 trips during the afternoon rush hour for each 1,000 SF of business area. Approximately 40% of those trips are what is considered "pass -by" trips, generated by drivers who were already passing the location and opted to stop, and the City of Everett does NOT consider those trips when calculating traffic mitigation fees. The other 60% of the trips (or approximately 16 trips during rush hour) are considered new trips to the area and are subject to traffic mitigation fees. The City of Everett does give credit for previous uses that were permitted on a property as long as the previous land use is not more than six years old. In the case of your site, credit was available from the old Denny's restaurant that was