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Parking will be reconfigured in the southwest corner. The utility work for the <br /> project will commence. <br /> b. Phase 2: This stage will include buildings in the Craftsmen District, such as the <br /> conversion of the MSRC building, new haul out facilities, a new boatyard, and a <br /> new washdown facility. The remaining parking along the south side will be <br /> constructed, and professional office, retail and residential construction will begin. <br /> c. Phase 3: The permanent esplanade walkway will be extended along the <br /> remainder of the west end, wrapping around along the north side of the upland <br /> area. The north/south pedestrian walkway from the existing marina will be <br /> completed, linking the marinas. The Public Market will be completed and <br /> additional residential, retail and professional office space will be constructed. <br /> d. Phase 4: The remainder of the public access components in the project will be <br /> completed, including public plazas along the west end walkway. Parking along <br /> the west end will be constructed. Buildings along West Marine View Drive will <br /> be constructed, as well as additional office, residential and retail. <br /> e. Phase 5: Additional office space along West Marine View Drive, as well as retail <br /> and professional office space along the 12th Street Marina will be completed. <br /> SECTION FIVE—GENERAL TERMS <br /> 5.1 VESTING OF DEVELOPMENT STANDARDS: <br /> Pursuant to RCW 36.70B.170 et seq., all development within the Property shall be governed by <br /> this Agreement to the extent this Agreement is not inconsistent with the final judicial <br /> determination entitled CITY OF EVERETT VS. CENTRAL PUGET SOUND GROWTH <br /> MANAGEMENT HEARINGS BOARD,NO. 03-2-05830-9,No. 52276-1-I, No. 52262-1-I <br /> [Consolidated] or revised DOE Shoreline Master Program Guidelines/Regulations and shall be <br /> implemented through permit approvals issued by the City. A "Buildout Period" of twenty (20) <br /> years from the date of this Agreement is established for the development and construction of the <br /> uses on the Property permitted and carried out in accordance with the provisions of this <br /> Agreement. <br /> During the Buildout Period, the City shall not modify or impose new or additional zoning <br /> standards beyond those set forth in this Agreement. To the extent this Agreement does not <br /> establish zoning standards addressing a certain subject, element or condition of the approved site <br /> plan, then the Project shall be governed by the zoning regulations in effect upon the date of this <br /> Agreement (i.e., those regulations set forth in Title 19 EMC). After the date of execution of this <br /> Agreement, the City may adopt new zoning standards or generally-applicable standards relating <br /> to particular subject matters specified under this Agreement or under presently-existing zoning <br /> standards. If, in adoption of the new zoning standards, the City elects to make such zoning <br /> standards available for development of the Property, then the Port, as an alternative to satisfying <br /> one or more of the zoning standards, may upon the approval of the City, develop the Property in <br /> accordance with the new zoning standards. To the extent that the Port proposes a major <br /> amendment to the Project (as defined in EMC 19.29 and in this Agreement), the City may elect <br /> to make the Project, as amended, subject to the zoning standards in effect at the time of the <br /> City's approval of such amendment. <br /> 18 <br />