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1. There are opportunities for the use of Transfer of Development Rights to <br /> encourage growth in targeted areas where growth is desired in Everett <br /> through an interjurisdictional program with Snohomish County; <br /> 2. There are placeholders in several sections of the Everett Zoning Code in <br /> which TDR is a means of acquiring the right for greater residential density or <br /> greater non-residential building space,that are dependent on the City <br /> enacting an interjurisdictional TDR program with Snohomish County; <br /> 3. There are potential changes to City development regulations that are <br /> identified in the consultant report that could make the use of TDR more <br /> economically viable, but such changes have not been presented in detail to <br /> the public or neighborhoods that could be affected by such changes, nor have <br /> they been analyzed by City staff for potential environmental impact; <br /> 4. Additional analysis and public outreach is necessary before the City can <br /> determine if establishing an interjurisdictional TDR program with Snohomish <br /> County is in the best long term interests of the City; <br /> 5. The use of tax increment financing allowed under ESB 5253 in potential <br /> TDR receiving areas in Everett does not appear to provide sufficient revenue <br /> for infrastructure improvements based on a review of the program proposed <br /> by the PSRC under the State legislation, unless changes are made to the State <br /> law to make the program more viable. <br /> WHEREAS,the City Council concludes the following: <br /> 1. The consultant team has completed their work in accordance with the <br /> Professional Services Agreement with the City. <br /> 2. In Resolution No. 6292,the City Council did agree to review and consider <br /> enacting a TDR pilot program to receive development rights from the County <br /> if the feasibility study determines that such a program is financially viable <br /> and changes to existing City policies and regulations required to ensure <br /> program success are, in the City's opinion, in the best long term interests of <br /> the City; <br /> 3. Under certain circumstances, an interjurisdictional TDR program with <br /> Snohomish County to allow development rights in agriculture and forestry <br /> areas within unincorporated Snohomish County to be transferred to receiving <br /> areas in the City of Everett may be both economically viable and desirable to <br /> encourage redevelopment in targeted areas of Everett. <br /> 4. Additional information concerning how such an interjurisdictional program <br /> would work, along with appropriate public outreach, is needed before the <br /> 2 <br />