Resolution 5742 - Laserfiche WebLink

ATTACHMENT 1 owned homes and 22 additional homes not owned by Asarco); $1 million from a trust fund established by Asarco to address their environmental liabilities nationwide, and $1 million in matching funds will be provided by Ecology to EHA. The project budget is Exhibit D to this Plan. The agreement between the City of EHA ("City of Everett and Everett Housing Authority Agreement on Cleanup and Redevelopment of Asarco Property," dated July , 2004, or City/EHA Agreement, incorporated herein by reference) provides protections to ensure the City's financial commitment to EHA will not be exceeded. The agreement between EHA and Asarco provide that Asarco shall be responsible for the remedial actions and any and all cost overruns. Except for the rehabilitation of the 8-15 Asarco Houses (the costs of which are included in the budget), a budget has not yet been developed for future redevelopment actions. 7. Land Use, Density, and Redevelopment Concept Land Use/Density. The City of Everett has conducted land use planning under the state Growth Management Act (GMA; RCW 36.70A) and other applicable law, including the evaluation of land use alternatives in the FCAP. The Redevelopment Area is designated 1.3, Single Family Residential, by the Everett Comprehensive Plan. The Redevelopment Area has been used for residential purposes and has been zoned R-2, single family medium density residential. This Community Renewal Plan is being processed simultaneously with an areawide rezone that would change the zoning designation to R-1A "single- family attached, low density residential." As noted in Section 5.3, the increased density is necessary to enable a sufficient level of redevelopment for EHA to sell the cleaned up properties for redevelopment, which will enable EHA to repay the funds borrowed to the purchase of Asarco properties, which in turn funded the cleanup work. At the same time, design and development parameters have been developed to assure that the increased density associated with the rezone and redevelopment will restore and enhance the livability of the neighborhood and result in a higher standard of development than has existed in this area. These parameters are described later in this section and specified in Exhibit G of this Plan. As noted in the Introduction and Scope of Plan (page 5), this is a "plan level" document. This Plan establishes the framework and guidelines for future Community Renewal Plan-page 13