Resolution 5703 - Laserfiche WebLink

DEVELOPMENT AGREEMENT THIS DEVELOPMENT AGREEMENT(this "Agreement") is entered into on this 2.V." day of DGce,„,,36.z 1 aoor- , by and between the Port of Everett, a Washington Port District(hereinafter the "Port”) and the City of Everett, a municipal corporation under the laws of the State of Washington (hereinafter the "City"). RECITALS 1. The Port is the owner of property located in the City's central harborfront area containing approximately 120 acres of uplands and water, the legal description of which is contained in Section 2.2 (the " Property"). 2. The Property currently contains the northern half of the Port's existing Marina, including the water area and its recreational boat haulout and wash-down facilities, boat repair work yards, conference center, Port maintenance shop and impound yard, net sheds, 12th Street Waterway, Jordan Park and numerous buildings and properties leased to a variety of industrial and commercial tenants. 3. The Port wishes to redevelop the Property shown in Attachment A, as part of its North Marina Redevelopment Project ("NMRP"). The NMRP is a multi-district, multi-phase master planned effort to create a new mixed-use development on the site. Redevelopment will include a mix of uses, including, but not limited to, marina, boat sales, boat storage and repair, restaurant, retail, office, residential, and public recreational uses. 4. The NMRP is consistent with and would implement the goals and policies of the 1994 Everett Comprehensive Plan. 5. The NMRP is consistent with the Port's 2004—2007 Strategic Plan and Port Resolution No. 776. 6. The NMRP will recognize the distinct functions of the North Marina area(an intensive mix of uses including marina activities, boat sales and repair, restaurants, public access and recreation and other compatible mixed-uses)through an almost completely new combination of buildings, improvements, expanded marina facilities, public walkways and open space that creates a new public gathering place, a recreational boating destination, and a residential/commercial mixed-use district. 7. The City Council has found that the conceptual site plan as adopted by the Port Commission August 8, 2005, for the Port master plan as proposed through the Planned Development Overlay ("PDO") is consistent with the City's vision for a new waterfront recreational and commercial destination in its central harborfront area. 8. The City and Port agree that utilization of the PDO process is the most appropriate for a large-scale project with a complex mixture of uses and with the long-term effects that the North Marina Redevelopment Project represents. 1