1402 SE EVERETT MALL WAY FREDERICK AND NELSON 2018-01-02 MF Import

v c william Moore, ffayor September 18, 1979 Page Two f /fa Z * S Following the meeting with your staff, my clients have had some additional thinking about the position of the City. From our perspective, it appears as though the City wishes the Mall ownership to sign a "blank check" by agreeing to a number of conditions including unspecified and unlimited financial contributions for a sewer interceptor, regional drainage program, traffic lights, and a local improvement district for streets. Given the preliminary status of the arious projects, it does not appear humanly possible to have specific data concerning the various proposals in time for my clients to make reasonable decisions. Accordingly, my clients are prepared to approach the city's financial conditions from another direction. Specif- ically, the owners will consider agreeing to pay maximum dollar amounts for drainage, sewer interceptor and traffic lights. For example,.the Mall ownership would agree to contribute for each project an amount not to exceed dollars. As far as the traffic signals are concerned, the Mall ownership would like some additional conditions including a commitment by the City to install the signals within a certain time and some assurance that other property owners will. contribute appropriately toward the traffic signals, as well. The exact amount of the contributions for these various items will be determined upon receipt of further information from your staff: and an -analysis of how much the Mall ownership feels it can afford to contribute. This approach has several advantages. From the standpoint of the City, this may constitute a precedent for having property owners contribute for the various improvements which will help the City extract similar contributions from other property owners and developers. Secondly, it affords the City staff some flexibility in designing the various improvements. From the standpoint of the Mall, it places an upper limit on the amount of the Mall's contribution: Most importantly, it will enable the prompt issuance of a building permit so that construction can commence on the Fredericks building. The ownership realizes that the Everett Mall Shopping Center is an impertant part of the City of Everett and the ownership wishes to be a. "good neighbor." Accordingly, they are willing to cooperate as I have indicated. At the same time, if: this matter cannot be resolved in a timely manner so that con- struction can commence on the Frederick & Nelson building, everyone loses. The Mall loses a prime tenant, and the community loses