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, <br /> .aOJ <br /> :"; <br /> I. r <br /> DEVELOPMENT AGREEMENT <br /> THIS AGREEMENT is entered into this,C /h day of ftupu5 f 2001, by and <br /> between Arnold Hofmann, PO Box 1266 Mukilteo, Washington, 98275 (hereafter "Hofmann"), <br /> and the City of Everett, a municipal corporation under the laws of the State of Washington <br /> (hereinafter the"City"). <br /> RECITALS <br /> A. Hofmann owns approximately.2 acres of real property(hereinafter the <br /> "Property"), zoned R-2 (Single Family Detached Medium Density), as depicted in Exhibit A, and <br /> lying within the incorporated boundaries of the City. The Property is currently used by Hofmann <br /> and is used for two separate and distinct land use types, namely(1) a business use with <br /> associated land and parking, and (2) a residence with associated land. Hofmann desires to re- <br /> zone the Property to B-2 (Community Business) in order to make the dominant business use of <br /> the property consistent with zoning of the property under the City's adopted Comprehensive Plan <br /> policies, Zoning Code regulations, and the terms of this Agreement; and <br /> B. This Agreement sets forth use standards on the residential portion of the property, <br /> through which the property's residence and its associated portion of the affected site will remain <br /> under R-2 zone regulations, a status that will benefit to the local neighborhood and the greater <br /> community. The intent of this development agreement is to provide for a the desired rezone to <br /> B-2 while retaining the residential use of the property and the residential appearance and <br /> function of McDougall Avenue. This out come will benefit the City more than would full B-2 <br />