Resolution 5871 - Laserfiche WebLink

and opportunity to comment, under which all appeals have been resolved and for which all appeal periods have expired. F. The conceptual plan for development described in this Agreement may result in applications that will in turn be subject to appropriate and subsequent development and site- specific SEPA, land use, shoreline, development, public and other applicable review ("Development Review") including a Rezone Development Agreement prior to the commencement of any construction under this Agreement. G. On November 15, 2006, the Everett City Council passed Resolution 5834 declaring the entirety of the City Property, as described in this Agreement, to be property not required for City purposes and that its sale will be in the best interests of the City as required by Ordinance 2935-06. H. On October 16, 2006, the City issued a Determination of Significance/Scoping Notice determining that a SEPA environmental impact statement will be prepared for OM's proposed redevelopment of the City Property. I. OM is an experienced developer of commercial, retail and residential properties and is interested in acquiring the City Property for development as a high quality, mixed-use retail and residential development as conceptually described herein. In anticipation of a possible sale and development of the City Property, OM and the City entered an Exclusive Negotiating Agreement with the City dated June 15, 2005 (the "ENA"). J. OM agrees to pursue development of the City Property, in accordance with the above-referenced City plans, programs and development regulations and subject to Development Review, as a high quality, mixed-use residential and retail development (the "Development") that is environmentally sensitive and otherwise compatible with the surrounding environment, and that includes open spaces, recreational opportunities such as pedestrian trails and bike paths, and other public amenities that will result in a community where people live, work, shop and enjoy the amenity improvements along the Snohomish River. Development shall be done in a manner consistent with the City's prior and ongoing remedial actions and obligations under the Consent Decree, the Restrictive Covenant and CAP, as the same may be amended by a Consent Decree acceptable to the City and OM, and the public works on the City Property contemplated by this Agreement. K. In connection with the Development or any other subsequent development of the City Property in accordance with the above-referenced City plans, programs and development regulations, the City anticipates the need to undertake certain public works in order to provide, subject to applicable law and any required Development Review, roadways, grading and surcharge, wetland restoration and various public amenities on and around the City Property and to undertake certain work intended to aid in collecting and recovering leachate and methane from the Landfill Site and complying with the City's obligations under the Consent Decree, the Restrictive Covenant and CAP. The City and OM recognize that such public works will need to occur after the City Property has been conveyed and while development of the City Property is taking place. Such concurrent work will require a high level of cooperation and coordination between OM and the City. -2- 06107-0063;LEGA L 13023969.1