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EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET 1 2 <br /> PROJECT TITLE: <br /> Agreement to Waive Right of Consent COUNCIL BILL# <br /> First Offer and Option on X Action Originating Department Real Property <br /> Eclipse Mill Property First Reading Contact Person Michael <br /> Palacios <br /> Second Reading Phone Number 257-8938 <br /> Third Reading FOR AGENDA OF 10/07/2009 <br /> Public Hearing <br /> Initialed by: <br /> Department Head <br /> CAA <br /> Council President <br /> Location Preceding Action Attachments Department(s)Approval <br /> West of Snohomish River, 9/16/09 Real Estate Agreement. Legal <br /> South of Pacific Ave,East Committee Real Property <br /> of I-5 <br /> Amount Budgeted <br /> Expenditure Required Account Number(s): <br /> Budget Remaining <br /> Additional Required <br /> DETAILED SUMMARY STATEMENT: <br /> In May of 2004 the City purchased approximately twelve acres from Eclipse Properties,LLC located along the west <br /> side of the Snohomish River and south of Pacific Avenue. The amended and restated purchase and sale agreement <br /> provided the City with a Right of First Offer and Option on an adjacent one acre parcel which was the site of a former <br /> lumber mill and required environmental remediation. <br /> In February 2008 the City sold the twelve acres along with other City owned properties to be developed under a master <br /> planned area known as the Everett Riverfront Development area. <br /> Eclipse Properties seeks to remediate the one acre parcel for future development purposes and has requested that the <br /> City release its Right of First Offer and Option on the property. The City has determined that a release of the property <br /> is acceptable subject to two conditions: 1)environmental remediation of the Eclipse property commence within 24 <br /> months of the City's release, and 2)the Eclipse property become part of the Riverfront Planned Development Overlay <br /> Zoning District in order for the future development of the property to be compatible with the adjacent Everett <br /> Riverfront Development. <br /> The attached agreement provides for these conditions in exchange for the City's release on the property. <br /> RECOMMENDATION (Exact action requested of Council): Authorize Mayor to sign Agreement to Waive Right <br /> of First Offer and Option on Eclipse Mill Property. <br /> 33 <br />