Resolution 5871 - Laserfiche WebLink

outlet type retailer, or any lower end retailer commonly found in so-called "power centers" (such as Big Lots, 99 Cents Only or Anna's Linens ) and (F) "Existing Prospective Tenant" shall mean a retailer, if ally, operating a store in the City of Everett of more than 50,000 square feet with whom OM is in active negotiations for the purchase or leasing of space in the Development as of the Effective Date; provided, however, OM may not claim more than one such retailer as an Existing Prospective Tenant for purposes of this Agreement. 16.3.3 City Discretion and Statement of Purpose The City shall have the right, for purposes of this Agreement, to approve or disapprove a Minimum Retail Element proposal for compliance with this Agreement in its reasonable discretion. OM shall not pull any building permits for the retail component of the Development unless and until OM shall have obtained approval from the City for its Minimum Retail Element proposal as set forth herein. The purpose and intention behind the requirement for an approved Minimum Retail Element proposal prior to authorizing the start of construction on the Landfill Site is to provide the City with assurances that a certain minimum synergistic collection of desirable retail tenants will be present on the Landfill Site in accordance with the overall objectives for the Development and the development of the City Property. The City's Authorized Representative shall have the authority to make all decisions for and on behalf of the City related to approval or disapproval of the Minimum Retail Elements. 16.4 Main Road OM's right to construct residential housing lots or units on the City Property beyond an initial phase that does not exceed half of the buildable area of the Simpson Site (the "Initial Residential Phase") shall be subject to the following requirement: OM shall have constructed, at OM's sole cost and expense, or otherwise provided the City with assurance devices reasonably acceptable to the City that ensures construction of, the Main Road through the Landfill Site commencing, at the south, at its intersection with 41st Street and continuing to a point ending at the northern most property line of the Port Property together with certain utilities all within a schedule reasonably acceptable to the City. The Main Road shall include City standard streetlights, pedestrian bulbs at intersections and mid-block crossings, 6-foot wide sidewalks on both sides and a storm water collection, treatment and outfall system. The utilities under the Main Road (the "Wet Utilities") shall include (i) a 12" water main with domestic and fire services extended to the back of the sidewalks to accommodate the Minimum Retail Elements, and (ii) a sewer main with adequate side sewers sized to accommodate flows from the Minimum Retail Elements. The Main Road shall be constructed so as to be capable of including gas utilities, as designed by Puget Sound Energy, to accommodate the Minimum Development Elements. OM shall not construct or allow to be constructed residential housing beyond the Initial Residential Phase without construction of the Main Road and Wet Utilities having been completed, or the City having agreed to accept in lieu thereof assurance devices ensuring their construction and dedication. 16.5 Environmental Quality and Other Design Standards The Development is intended to be a model for economically sustainable "green" development. OM shall design and construct the Development so as to meet the LEED -30- 06107-0063;L CG A L 13023969.1