Title
Development Agreement with Fortis Development, LLC
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Conduct public hearing. After closing the public hearing, move to adopt the attached Resolution approving a Development Agreement with Fortis Development LLC for demolition of existing buildings and future development known as Martin Way Residential.
Report
Issue:
Should the City Council approve the development agreement with Fortis Development, LLC?
Staff Contact:
Leonard Bauer, Deputy Director, Community Planning and Development, 360.753.8206
Presenter(s):
Leonard Bauer, Deputy Director, Community Planning and Development
Background and Analysis:
This development agreement is requested by City staff in accordance with Chapter 18.53 of the Olympia Municipal Code. Staff from the Departments of Community Planning and Development and Public Works have worked with Fortis Development and the City Attorney's office to draft the proposed development agreement (attached).
The development agreement is for two tax parcels located at 3333 Martin Way East (site of the former Bailey's Inn). The development agreement provides for demolition of all buildings on the site within 90 days after execution of the agreement. In the future, it also provides for Fortis Development to apply for development permits for a multi-use, residential/commercial project to be constructed in two phases. The agreement specifies the existing City development standards that will apply to each phase of development, including frontage improvements along Martin Way (e.g., curbs, street trees, street lights, sidewalks). Improvements will be constructed along the entire length of both parcels during construction of Phase 1 of the development project - permanent improvements along Phase 1 frontage and temporary improvements along Phase 2 frontage. The temporary improvements will be replaced with permanent...
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