1010 SE EVERETT MALL WAY BASE FILE 2018-01-02 MF Import

` Dtr . Dennis Der'ckson Page Three Janaury 11 , 19i30 Alternative A roach. At the same time , my clients are will.ing to make some concessions concerning a future North- South access road . Pirst , they are willing to design their project i� such a manner as to reserve a 35 foot strip of land along the easterly porL- ion of their property for possible acuuisition by t-he City or the local improvement district . Secondly, my clients �aill agree that they will not oppose the formation oi a future L. I .D. to establish a North-South corridor unless their property is included as a property benefited by the proposed L. I .D. No "Recorded Document" . We also discussed in consider.able detail my c3ients ' concern over the third requirement of yonr f.inal declaration of a "recorded document" concerning che 35 foot striP oL land . tdy clients do not want any docu- ment recorded at this time because of financing considerations . We also discussed the City ' s concerr� that any restrict•ions on the use of the 35 foot strip be binding upon third party purchasers and , further, that no i.r..provements would be con�tructed in or upon the 35 foot strip. My clients were going to explore alternative approaches to this property with a view towards establishing a mutually acceptable method of satisf��ing the City ' s concern and , at the same time , avoiding the financing problems. Possible Solution. At the meeting , we discussed possible solutions including a restrictive covenant and easement . Upon reflection, my clients have concluded that such recorded documents would constitute a "red flag" and jeopardize financing of the project. Two possible alterna- tives occurrec7 to us: Neaative Declaration. Par.agraph 3 of your rinal Declaration of Non-Significance could be amended to simply prohibit the construction of any permanent i,nprovements in the 35-foot strip of land . You miyht discuss this possibility wii:h 13rad Cattle, City Attor- ney , for appropriate lan9uage to satisfy the City ' s concern. Obviously, we would want. to revie�v and approve the languaae but givcn our previous discuss.iors and understanding of the CiL-y ' s concern, there should be no problem.