Resolution 5871 - Laserfiche WebLink

PROPERTY DISPOSITION AGREEMENT EVERETT RIVERFRONT DEVELOPMENT CITY OF EVERETT/OLIVERMCMILLAN, LLC This PROPERTY DISPOSITION AGREEMENT (the "Agreement") is entered into as of the day of February, 2007 (the "Effective Date"), by and between the CITY OF EVERETT, a municipal corporation of the State of Washington (the "City"), and OLIVERMCMILLAN, LLC, a California limited liability company ("OM"). The City and OM are from time to time jointly referred to herein as the"Parties"and individually as a"Party." RECITALS A. The City is the owner of certain land located within the City of Everett, Snohomish County, Washington, adjacent to the Snohomish River and containing approximately 221 acres, legally described on Exhibit A attached hereto (hereinafter, the "City Property"). The City Property is also depicted on the boundary survey and property map attached hereto as Exhibit B-I (the "Property Map"). The City Property is comprised of a former landfill site (the "Landfill Site") and two former mill sites(the"Mill Site" and the "Simpson Site." The Landfill Site, the Mill Site and the Simpson Site are each located as and where shown on the Property Map. B. The Landfill Site and the Simpson Site have been the subject of detailed environmental characterization and remedial actions under the state's Model Toxics Control Act. The Simpson Site was the subject of a voluntary cleanup in which the Washington Department of Ecology("Ecology') issued a "no further action letter"dated December 5, 1994. The Landfill Site was the subject of a final court-approved Consent Decree entered into between the City and Ecology dated April 2, 2001 (the "Consent Decree"), which includes a Restrictive Covenant dated January 14, 2002 ("Restrictive Covenant"), and a final Cleanup Action Plan ("CAP"). These documents and instruments set forth certain conditions and requirements imposed to protect public health, the environment and the integrity of the remedial actions that have been taken on portions of the City Property. C. The City Property also contains land that is designated as a wetlands and habitat enhancement area and areas for the potential location of certain public amenities, which are generally described in the August 2005 "Snohomish Riverfront Properties at Bigelow Creek: Final Conceptual Enhancement Program"report. D. The conceptual plan for redevelopment of the City Property set forth in this Agreement is described in and implements previously approved City plans and programs, including but not limited to the City's Comprehensive Plan, Shoreline Master Program and development regulations. E. The above-referenced City plans and programs have been the subject of prior State Environmental Policy Act ("SEPA") compliance including public and interagency notice -1- 06107-0063'LEGA L13023969.1