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Exhibit 3 to Ordinance No. <br /> • Environmental protection and shoreline restoration—restore habitat and <br /> environmental features in an area that has been highly modified over a century of <br /> urbanization. <br /> • Diverse destination—creating a lifestyle center connected to the broader Everett <br /> community and surrounding Riverfront environment; <br /> 3.2 Development Schedule. The PDA establishes certain minimum development <br /> elements that OM is obligated to construct and provides that these elements must be completed <br /> as described in the PDA by the eighth(8th) anniversary of OM obtaining the Key Development <br /> Permits for the Project, as defined in the PDA. <br /> 3.3 Preliminary and Final Project Development Plans. The Project shall be developed <br /> as depicted in the preliminary development plan at Attachment E to this Agreement <br /> ("Preliminary Development Plan") or as the Preliminary Development Plan may be modified <br /> pursuant to the City's Planned Development Overlay regulations as set forth in Chapter 19.29. <br /> OM shall prepare and submit to the City a final development plan within five years after the date <br /> of this Agreement ("Final Development Plan"). <br /> R <br /> 3.4 Development Plans by Parcel. It is contemplated that: the commercial <br /> development described above, along with some residential uses,will occur on the Landfill Pad; <br /> the Simpson Pad will be developed primarily for residential uses; and the Mill Property will be <br /> developed primarily for residential uses. <br /> 3.5 36th Street Improvements. OM will design and construct 36th Street on the Project <br /> site as shown on the Preliminary Development Plan. Without limiting any obligations set forth <br /> in the PDA, OM's obligation to construct the 36th Street improvements shown on the Preliminary <br /> Development Plan extends only to the south side of the north curb in those locations where OM <br /> does not own the property on the north side of the street. Property owners on the north side of <br /> 36th will be responsible for all required improvements, if any,north of the 36th Street north curb. <br /> 4. Project Changes. The City will consider proposed changes to the Preliminary and Final <br /> Development Plans in accordance with Everett Municipal Code("EMC") 19.29.120 and in <br /> accordance with the procedures of Review Process II described in EMC Title 15, Local Project <br /> Review Procedures. A development plan change will be presumed to be a"minor" change under <br /> EMC 19.29.120 A if it does not exceed the thresholds of subsections Al —A4. This presumption <br /> could be overcome if the Planning Director determines that the change would be a substantial <br /> variation from the project approved by the City in the PDO and this Agreement <br /> 5. Permitted Uses. The uses permitted on the Riverfront Property shall be those uses that <br /> are consistent with the requirements of the PDA and are allowed in the Waterfront Commercial <br /> zone as set forth in the Use Tables at Chapter 19.5 Everett Municipal Code (EMC) as they exist <br /> at the time of this Agreement, a copy of which is included in Attachment K to this Agreement, <br /> as modified by the Everett Zoning Standards for Riverfront Planned Development Project <br /> described below. Within the jurisdiction of the Shoreline Management Act, Chapter 90.58 <br /> RCW, the uses permitted on the Riverfront Property must also be allowed in the Shoreline <br /> Overlay District as set forth in the Shoreline Use Table at EMC 19.33D.100 as it exists at the <br /> time of this Agreement, a copy of which is included at Attachment K to this Agreement. <br /> 7 0 -4- <br />