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7 <br /> The proposed development project that is the subject of the Ordinance and Development <br /> Agreement is a high quality mixed-use commercial/residential development to fulfill the <br /> City's vision for the Property as set forth in the City's Comprehensive Plan and Shoreline <br /> Master Program and the Property Disposition Agreement. It includes construction of up <br /> to 900,000 square feet of mixed commercial use; 200,000 square feet of hotel space; and <br /> up to 1,400 residential units (multi- and single-family). The ultimate mix of uses <br /> constructed will be determined by the property owner based on market demand and the <br /> land use capacity of the Riverfront Property, subject to the minimum development <br /> elements and other requirements of the Property Disposition Agreement. <br /> Background: <br /> A. The properties owned by OliverMcMillan are commonly known as the <br /> former Everett Landfill Pad, Eclipse Mill Property, and the Simpson Pad, along with <br /> other adjacent parcels. <br /> B. On December 14, 2007, the City issued the Draft Environmental Impact <br /> Statement for the Everett Riverfront Redevelopment Project, accepted public comment, <br /> and on June 11, 2008, the City issued the Final Environmental Impact Statement(the <br /> "EIS"). The EIS describes and considers the potential environmental impacts of the <br /> proposed OM commercial/residential development as well as future City actions to <br /> develop recreational opportunities and restore the habitat and environmental features of <br /> this riverfront area. On November 24, 2008, the City issued Addendum No. 1 to the <br /> Final EIS which describes certain Project changes and additional information. <br /> C. The Everett Planning Commission on December 8, 2009, after conducting <br /> a public hearing and having reviewed the background documents recommended the <br /> Development Standards for the Everett Riverfront District Planned Development <br /> Overlay. These included the Everett Riverfront District Zoning and Land Division <br /> Standards, and Design Guidelines which include Mixed Use Development Design <br /> Guidelines and Residential Guidelines. <br /> D. The proposed Development Agreement includes those Zoning and Land <br /> Division Standards, and the Design Guidelines, as well as General Development <br /> Conditions and Mitigation for the Everett Riverfront District Project. <br /> E. Other property owners in the Everett Riverfront District area may come <br /> forward when they have more specific proposals and participate in a Development <br /> Agreement with standards compatible with those for OliverMcMillan. <br /> Phased Environmental Review. <br /> The Environmental Review has been completed for the Everett Riverfront District project <br /> as described above in B. They will be other future environmental reviews for the City of <br /> Everett public amenities and other reviews as needed which will build upon the <br /> environment documents done by OliverMcMillan for their project. <br /> 53 <br />