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• <br /> EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET 3 <br /> PROJECT TITLE: <br /> Resolution acknowledging Consent COUNCIL BILL# <br /> completion of the Transfer of 8-8-12 Action Originating Department Planning <br /> Development Rights Report by First Reading Contact Person Allan Giffen <br /> the City's consultant team, and Second Reading Phone Number 257-8725 <br /> Authorizing City Staff to Third Reading FOR AGENDA OF 8-1-12; 8-8-12 <br /> Explore the potential for an Public Hearing <br /> interjurisdictional TDR 8-1-12 Public Briefing Initialed by: <br /> program with Snohomish Department Head <br /> County. CAA ►1i <br /> Council President 1;%)) <br /> Location Preceding Action Attachments Department(s)Approval <br /> Various potential Planning Commission Draft Resolution, Planning <br /> locations in the city briefing on April 17, Resolution#6292; <br /> 2012 <br /> Amount Budgeted N/A <br /> Expenditure Required N/A <br /> Budget Remaining N/A <br /> Additional Required N/A <br /> DETAILED SUMMARY STATEMENT: On July 21,2010,the City Council adopted Resolution No. <br /> 6292 in support of a grant application requesting funding for an economic analysis of the feasibility of <br /> establishing a Transfer of Development Rights (TDR)program in the City. Section 2 of the resolution states: <br /> The City agrees to review and consider enacting a TDR pilot program to receive development rights <br /> from the County if the feasibility study determines that such a program is financially viable and changes <br /> to existing City policies and regulations required to ensure program success are in the City's opinion in <br /> the best long term interests of the City. <br /> The report has been completed and includes several conclusions concerning the viability of potential TDR <br /> programs in the City. One of the conclusions is that there may be a benefit to the City by participating in an <br /> inteijurisdictional TDR program with Snohomish County. The report also recommends that the City not <br /> participate in a regional TDR program that would,in theory,provide the opportunity to fund infrastructure <br /> improvements in TDR receiving areas. The law as currently enacted does not provide a workable way to <br /> fund infrastructure improvements. Staff will present a briefing at the August 1,2012 City Council meeting. <br /> RECOMMEENDATION (Exact action requested of Council): Adopt Resolution acknowledging completion <br /> of the Transfer of Development Rights report by the City's consultant team, and authorizing City staff to <br /> explore the potential for an interjurisdictional TDR program with Snohomish County. <br /> 19 <br />