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<br /> CONCOMITANT AGREEMENT TO REZONE ORDINANCE NO. A076 �70
<br /> MERRILL CREEK JV
<br /> THIS AGREEMENT is made and entered this / day of
<br /> , 1990 , by Merrill Creek Joint Venture, a Washington
<br /> Gen ral Partnership, whose address is as follows: United
<br /> Western Development, 1612 South Mildred Street, Suite A, Tacoma,
<br /> WA 98465; and Pope Resources*,* a Delaware Limited Partnership,
<br /> whose address is as follows: 1110 Third Avenue, #715, Seattle,
<br /> WA 98101 ; and Puget Sound National Bank;* a Corporation, whose
<br /> address is as follows: 1119 Pacific Avenue, Tacoma WA, said
<br /> parties being hereinafter referred to as "Owner" , and the City
<br /> of Everett, a municipal corporation under the laws of the State
<br /> of Washington, hereinafter referred to as the "City" .
<br /> WITNESSETH:
<br /> WHEREAS, the Owner has made application to the City to
<br /> establish zoning on the parcel of property described in the
<br /> Ordinance # 1175' 90 ; and
<br /> WHEREAS, the Owner is the owner of a tract of real
<br /> property approximately 94.5 acres in size located approximately
<br /> 1 ,700 feet west of Glenwood Avenue, north of Merrill Creek
<br /> Parkway, and south of the Plats of Edgemoor Heights and Harbor
<br /> Ridge in southwest Everett, the legal description of which is
<br /> attached hereto as Exhibit "A" and incorporated herein by this
<br /> reference; and
<br /> WHEREAS, after due notice public hearings were held
<br /> before the Planning Commission on June 20 , 1989; July 18, 1989;
<br /> and October 17, 1989; and
<br /> WHEREAS, the Planning Commission made a recommendation on
<br /> October 17 , 1989 to City Council to grant approval with the
<br /> conditions as stated in the Planning Commission report to City
<br /> Council dated December 26 , 1989; and
<br /> WHEREAS, the public health, safety, and welfare would be
<br /> best served by anticipating the impact of the proposed
<br /> development and imposing certain mutually agreed upon standards,
<br /> conditions, and requirements as set forth herein and hereafter
<br /> considered to be an integral part of the zoning restrictions
<br /> applicable to said property; and
<br /> WHEREAS, the Owner has agreed to develop the
<br /> aforementioned property in accordance with the requirements of
<br /> this Agreement in consideration of the City considering
<br /> ' designating the property R-3(A) Multiple Family Residential Site
<br /> Plan Review Zone and the Owner further agrees as part of said
<br /> consideration that should the City zone the property R-3(A)
<br /> Multiple Family Residential Site Plan Review Zone, to lay out,
<br /> develop, and maintain the property as hereinafter set forth;
<br /> NOW THEREFORE, IT IS MUTUALLY AGREED AS FOLLOWS:
<br /> 1. PERMITTED USES
<br /> a. A maximum of 1 ,070 residential units are permitted on
<br /> the site. The units shall consist of a maximum of 47
<br /> single family detached lots, 62 two-story townhouse
<br /> units, and the balance being multiple family units.
<br /> A maximum of 10 percent of the single family and
<br /> *Pope Resources and Puget Sound National Bank hold a lien on the subject
<br /> property as security for certain financing, and do not presently own the
<br /> property. The parties agree that PSNB and Pope are signing only to indicate
<br /> their consent to the execution and recording of this Agreement by the other
<br /> parties hereto, and PSNB and Pope shall have no obligation or liability to the
<br /> City or any other person under this Agreement (except to the extent they
<br /> become a successor owner by foreclosure or otherwise) .
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