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CITY OF RENTON, WASHINGTON
ORDINANCE NO. S 10 7
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON
DESIGNATING A PLANNED ACTION FOR THE LAKESHORE
LANDING DEVELOPMENT, APPROXIMATELY 55 ACRES LOCATED
BETWEEN LOGAN AVENUE N. TO THE WEST AND GARDEN
AVENUE N. TO THE EAST, N. STa STREET TO THE SOUTH, AND
EAST OF THE BOEING MANUFACTURING OPERATIONS ON THE
WEST.
WHEREAS, RCW 43.21C.031 and WAC 197-I1-164, - 168, and - 172 allow and
govern the application of a Planned Action designation; and
WHEREAS, an Environmental Impact Statement (EIS) has been prepared for the
Lakeshore Landing site, entitled the Boeing Renton Comprehensive Plan Amendment EIS, and
such document considers the potential environmental impacts of a phased mixed -use project on
property generally owned by the Boeing Company in North Renton, including approximately 55
acres of subject property, proposed to be developed as Lakeshore Landing; and
WHEREAS, with Ordinance No. 5026, the City has amended the Comprehensive Plan
Land Use Map for the subject area from Employment Area — Industrial (EA -I), Employment
Area — Transition (EA-T) and Employment Area Office (EA-0) to Urban Center North (UC-N);
and
WHEREAS, with Ordinance No. 5027 the City has amended the Zoning Map from
Center Office Residential (COR) and Commercial Office (CO), to Urban Center North 1 (UC-
N1); and
WHEREAS, this Ordinance would designate certain land uses and activities as "Planned
Actions" which would be consistent with the Urban Center North 1 (UC-NI) designation and
zone;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON,
WASHINGTON, DO ORDAIN AS FOLLOWS:
SECTION I. Purpose. The City of Renton declares that the purpose of this
ordinance is to:
A. Set forth a procedure designating certain project actions within the subject site as
"Planned Actions" consistent with state law, RCW 43.21C.031; and
B. Provide the public with an understanding as to what constitutes a Planned Action
and how land use applications which qualify as Planned Actions will be processed by the City;
and
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ORDINANCE NO. 5107
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C. Streamline and expedite the land use permit review process for this site by relying
on completed and existing detailed environmental analysis for the subject site; and
D. Combine environmental analysis with land use planning.
It is the express purpose of this ordinance that all the City's development codes be
applied together with the development agreement framework attached as Exhibit A to this
Ordinance for the purpose of processing Planned Actions.
SECTION II. Findings. The City Council finds that:
A. The Boeing Renton Comprehensive Plan Environmental Impact Statement (EIS)
addresses all significant environmental impacts associated with the scenarios described in the
EIS for Alternatives 1, 2, 3, and 4 as referenced therein, and the Lakeshore Landing Conceptual
Plan is encompassed by those Alternatives; and
B. The mitigation measures contained in the Development Agreement, Exhibit A of
this Ordinance, together with the City's development standards, final EIS and standard
mitigation fees (Parks, Fire and Traffic), are adequate to mitigate the significant adverse
environmental impacts of the proposed Lakeshore Landing conceptual site plan; and
C. The expedited permit review procedure set forth in this Ordinance is and will be a
benefit to the public, protects the environment, and enhances economic development; and
D. Opportunities for public involvement and review have been provided as part of
the Comprehensive Plan, rezoning and EIS processes, and the approval of the Conceptual Plan
for Lakeshore Landing and comments have been considered which have resulted in
modifications to measures in the Development Agreement and analyzed Alternatives.
SECTION III. Procedure and Criteria for Evaluating and Determining
Projects as Planned Actions.
A. Planned Action Site. The Planned Action designation shall apply to
approximately 55 acres of property commonly referred to as the Lakeshore Landing site, and
referred to in this Ordinance as the "subject site." The City Council has approved, at its regular
meeting on October 18, 2004, the Lakeshore Landing Conceptual Plan for development of
between 500,000 square feet and 800,000 square feet. The property and Conceptual Plan are
illustrated in Exhibit B, and legally described in Exhibit C. Additionally, the Planned Action
designation shall apply to any off -site improvements necessitated by the proposed development
on the subject site, where the off -site improvements have been analyzed in the EIS.
B. Environmental Document. A Planned Action designation for a site -specific
permit application shall be based on the environmental analysis contained in the Renton Boeing
Comprehensive Plan Environmental Impact Statement (EIS) issued by the City on October 21,
2003. The Development Agreement, Exhibit A, is based upon the analysis in the EIS. The
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ORDINANCE NO. 5107
Development Agreement, together with existing City codes, ordinances, standard mitigation fees,
and standards shall provide the framework for the decision by the City to impose conditions on a
Planned Action project. Other environmental documents incorporated by reference in the EIS
may also be utilized to assist in analyzing impacts and determining appropriate mitigation
measures.
C. Planned Action Designated. Uses and activities described in the EIS, subject to
the thresholds described in Alternatives 1, 2, 3, and 4 analyzed in the EIS, and subject to the
mitigation measures described in Exhibit A, are designated Planned Actions pursuant to RCW
43.21.C.031.
D. Planned Action Thresholds.
1. Land Use. Subject to the measures described in Exhibit A, the land uses
and development levels analyzed as Alternatives 1, 2, 3, and 4 of the EIS, together with their
customary accessory uses and amenities described in the EIS, when applied to the Conceptual
Plan for Lakeshore Landing approved by the City Council at its meeting of October 18, 2004,
makes Lakeshore Landing a Planned Action pursuant to RCW 43.21.C.031.
If future refinements to the approved Lakeshore Landing Conceptual Plan exceed the
maximum development parameters reviewed, supplemental environmental review may be
required under SEPA Rules. If proposed plans significantly change the location of uses in a
manner which would negatively affect land use compatibility (for example, move commercial
and office uses in such a manner that they would not buffer residential uses from the nearby
manufacturing uses), additional SEPA review would be required.
2. Building Heights and Thresholds: Building heights shall not exceed the
maximum heights allowed in the UC-N1 zone. In comparison with the building heights
reviewed in the EIS, a proposed increase in height greater than 101/6 shall require additional
SEPA review addressing aesthetics and shadows.
3. Transportation:
a) Trip Ranges: The range of trips were reviewed in the EIS.
b) Trip Threshold: Uses or activities which would exceed the
maximum trip levels shown in the EIS must complete additional SEPA review.
c) Road Improvements: The Planned Action would require on -site
and off -site road improvements. These road improvements have been analyzed in the EIS.
Significant changes to the road improvement plan that have the potential to significantly increase
impacts to air quality, water quality, fisheries resources, or noise levels beyond the levels
analyzed in the EIS would require additional SEPA review.
4. Earth: A significant change in amount of grading assumed in the EIS
which has the potential to adversely affect water quality or fisheries shall require additional
SEPA review.
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ORDINANCE NO. 5107 " t
5. Air Quality: A significant change in configuration, increase in building
heights, or significant decrease in setbacks between residential and manufacturing uses, which
could affect localized air quality and odor conditions would require additional SEPA review.
6. Water. The following changes by the Planned Action scenarios to the
Alternatives analyzed in the EIS would require additional SEPA review:
a) Change in peak flows to Johns Creek significantly exceeding the
levels reviewed in the EIS.
b) Increase in number of outfalls to Johns Creek or Lake Washington
beyond the numbers reviewed in the EIS.
5. Public Services and Utilities: A significant increase in the number of
square feet or dwelling units beyond the maximum number analyzed in the EIS would require
additional SEPA review to address impacts to Fire, Police, Schools, Parks, Water, Wastewater,
Solid Waste, as applicable.
E. Planned Action Review Criteria.
1. The Director of Development Services, or the Director's designee, is
hereby authorized to designate a project application as a Planned Action pursuant to RCW
43.21C.031(2)(a), if the project application meets WAC 197-11-172 and all of the following
conditions:
a) The project is located on the subject site as described in section
IH.A, or is an off -site improvement directly related to a proposed development on the subject
site; and
b) The project is consistent with the Renton Comprehensive Plan
adopted under RCW 36.70A; and
c) The project's significant environmental impacts have been
adequately addressed in the EIS by reviewing the environmental checklist or other project review
form as specified in WAC 190-11-315; and
d) The project complies with the Planned Action thresholds in the
EIS; and
e) The Director has determined that the project's significant impacts
have been mitigated through the application of the Development Agreement in Exhibit A, as well
as other City requirements, standard mitigation fees and conditions, which together constitute
sufficient mitigation for the significant environmental impacts associated with the proposed
project; and
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ORDINANCE NO. 5107 Iftw
f) The proposed project complies with all applicable local, state and
federal regulations, and where appropriate, needed variances or modifications or other special
permits have been requested; and
g) The proposed project is not an essential public facility.
F. Effect of Planned Action.
1. Upon designation by the Director that the project qualifies as a Planned
Action, the project shall not be subject to a SEPA threshold determination, an environmental
impact statement (EIS), or any additional review under SEPA.
2. Being designated a Planned Action means that a proposed project has been
reviewed in accordance with this Ordinance, and found to be consistent with the development
parameters and environmental analysis included in the EIS.
3. Planned Actions will not be subject to further procedural review under
SEPA. However, projects will be subject to conditions designed to mitigate any environmental
impacts which may result from the project proposal, and projects will be subject to whatever
permit requirements are deemed appropriate by the City under State and City laws and
ordinances. The Planned Action designation shall not excuse a project from meeting the City's
code and ordinance requirements apart from the SEPA process.
G. Planned Action Permit Process. The Director shall establish a procedure to
review projects and to determine whether they meet the criteria as Planned Actions under State
laws and City codes and ordinances. The procedure shall consist, at a minimum, of the
following:
1. Development applications shall meet the requirements of RMC Chapters
4-8 and 4-9. Applications shall be made on forms provided by the Department and shall include
a SEPA checklist or revised SEPA checklist [where approved through WAC 197-11-315(2)] or
such other environmental review forms provided by the Planning/Building/Public Work
Department. The checklist may be incorporated into the form of an application;
2. The Director shall determine whether the application is complete as
provided in RMC Chapter 4-8.
3. If the project application is within an area designated as a Planned Action,
the application shall be reviewed to determine whether the proposed application is consistent
with and meets all of the qualifications specified in section III of this Ordinance.
4. Upon review of a complete application by the City, the Director shall
determine whether the project qualifies as a Planned Action. If the project does qualify, the
Director shall notify the applicant, and the project shall proceed in accordance with the
appropriate permit procedure, except that no additional SEPA review, threshold determination,
or EIS shall be required.
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ORDINANCE NO. 5107 *420
5. Public notice for projects that qualify as Planned Actions shall be tied to
the underlying permit. If notice is otherwise required for the underlying permit, the notice shall
state that the project has qualified as a Planned Action. If notice is not otherwise required for the
underlying permit, no special notice is required.
6. If a project is determined not to be a Planned Action, the Director shall
notify the applicant and prescribe a SEPA review procedure consistent with the City SEPA
procedures and state laws. The notice to the applicant shall describe the elements of the
application that result in disqualification as a Planned Action.
7. Projects disqualified as a Planned Action may use or incorporate relevant
elements of the environmental review analysis in the EIS prepared for the Planned Action, as
well as other environmental documents to assist in meeting SEPA requirements. The
Environmental Review Committee may choose to limit the scope of the SEPA review to those
issues and environmental impacts not previously addressed in the EIS.
SECTION IV. Time Period. This Planned Action Ordinance shall be reviewed
no later than December 31, 2009 by the Development Services Director to determine its
continuing validity with respect to the environmental conditions of the subject site and vicinity
and applicability of Planned Action requirements. Based upon this review, this Ordinance may
be amended as needed, and another review period may be specified.
SECTION V. Conflict. In the event of a conflict between the Ordinance or any
mitigation measures imposed pursuant thereto and any ordinance, or regulation of the City, the
provisions of this Ordinance shall control, EXCEPT that provision of any Uniform Code shall
supersede.
SECTION VL Severability. Should any section, subsection, paragraph, sentence,
clause or phrase of this Ordinance or its application be declared unconstitutional or invalid for
any reason, such decision shall not affect the validity of the remaining portions of this Ordinance
or its application to any other person or situation.
SECTION V11L This ordinance shall be effective upon its passage, approval, and
five days after publication.
PASSED BY THE CITY COUNCIL this 15th day of November , 2004.
Bonnie I. Walton, City Clerk
Co
Iftw ORDINANCE NO. 5107 4w'
APPROVED BY THE MAYOR this 15 th day of November
Approved as to form:
Lawrence J. Wane -t ity Attorney
Ov eolker-Wheeler, Mayor
Date of Publication: 11/19/2004 (summary)
ORD. 1142:11/3/04:ma
7
Return Address
Office of the City Clerk
Renton City Hall
1055 South Grady way
Renton, WA 98055
ORDINANCE NO. 5107
EXHIBIT A
DEVELOPMENT AGREEMENT
ism
20031210001637
ITY OF RENTON AG
PAGE001 OF 073
12/10/2003 12:22
KIRG COUNTY, NA
Document Titles) (or transactions contained therein):
1. Development Agreement for Renton Plant Redevelopment
Reference Number(s) of Documents assigned or released:
(on page _ of documents(s))
Grantor(s) (Last name first, then first name and initials):
1. The Boeing Company
Grantees) (Last name first, then first name and initials):
1. City of Renton
Legal description (abbreviated: i.e. lot, block, plat or section, township, range)
Portions of Renton Farm Plat, Renton Farm Plat No. 2, Plat of Sartorisville, Renton Boiler Works Short Plat,
Renton Farm Acreage Plat, City of Renton Short Plat, CH Adsit's Lake Washington Plat, and Government
Lots 1, 2, and 3 — SIR 082305 TAXLOT 55 PCL 1 BOEING, STR 082305 TAXLOT 115 PCL 2 BOEING,
STR 082305 TAXLOT 880 PCL 3 BOEING, STR 082305 TAXLOT 19 PCL 4 BOEING, STR 082305
TAXLOT 9 PCL 5 BOEING, STR 082305 TAXLOT 37 PCL 6 BOEING, STR 082305 TAXLOT 105 PCL
7 BOEING, STR 082305 TAXLOT 152 PCL 8 BOEING, STR 072305 TAXLOT 1 PCL 9 BOEING, STR
072305 TAXLOT 46 PCL 10 BOEING, STR 082305 TAXLOT 11 PCL 11 BOEING, STR 082305
TAXLOT 197 PCL 12 BOEING, STR 082305 TAXLOT 79 PCL 13 BOEING,
SIR 072305 TAXLOT 100 PCL 14 BOEING, STR 082305 TAXLOT 204 PCL 15 BOEING,
DX Full legal is on pages through of document.
Assessor's Property Tax ParceUAccount Number
Portions of the following: #756460-0055-04, #722300-0115-08, 4722400-0880-00, #082305-9019-00,
#082305-9209-00, #082305-9037-08, #722300-0105-00, #082305-9152-07, #072305-9001-01, #072305-
9046-08, #082305-9011-08, #082305-9187-06, 9082305-9019-07, #072305-9100-01, #082305-9204-05.
[/BOEING Dev Agreement 11-24-03.doc] 11/24/03
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DEVELOPMENT AGREEMENT BETWEEN
THE BOEING COMPANY AND THE CITY OF RENTON
FOR REDEVELOPMENT OF A PORTION OF THE BOEING RENTON
AIRCRAFT MANUFACTURING FACILITY
This DEVELOPMENT AGREEMENT ("Agreement") between THE
BOEING COMPANY ("Owner" or `Boeing'), a Delaware corporation, and the CITY
OF RENTON ("Renton"), a municipal corporation of the State of Washington, is
entered into pursuant to the authority of RCW 36.70B.170 through .210, under which
a local government may enter into a development agreement with an entity having
ownership or control of real property within its jurisdiction.
H. RECITALS
A. Owner owns approximately 280 acres of real property, known as the
Boeing Renton Aircraft Manufacturing Facility ("Renton Plant" or "Plant"), located
in Renton, King County, Washington, as more particularly described in Exhibit 1,
attached. Since the early 1940s, the Plant has been used to manufacture military and
commercial airplanes.
B. The majority of the Renton Plant site has historically been zoned for
heavy industrial use and has, for several years, been designated Employment Area -
Industrial by the Renton Comprehensive Plan. Since 2000, a parcel along the Plant's
eastern boundary has been zoned III and designated by the Comprehensive Plan as
Employment Area -Transition (Interim) and a nearby parcel has been zoned CO and
designated by the Comprehensive Plan as Employment Area -Office.
C. In 2002, Owner informed Renton of its plan to consolidate its Renton
Plant operations to the site area west of Logan Avenue, an effort commonly known as
the "Move -to -the -Lake." Move -to -the -Lake is, among other things, intended to
release underutilized land as surplus for eventual sale and redevelopment.
D. To provide certainty and efficiency to Owner with respect to further
development of the Renton Plant for airplane manufacturing purposes, to encourage
continued airplane manufacturing by Owner at the Renton Plant, and in anticipation
of potential future redevelopment efforts, Owner and Renton entered into a
Development Agreement ("2002 Agreement") on June 28, 2002, by Resolution
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Page 1
No. 3568 which, among other things, established baseline trip counts,
redevelopment credit and vesting of land use regulations under certain circumstances
for ongoing Renton Plant operations and potential redevelopment.
E. Based on further discussions between Owner and Renton regarding
potential opportunities for redevelopment of the Renton Plant site, in phases, over
time, Renton resolved, by Resolution 3589, on October 14, 2002, to conduct
environmental review in the form of an environmental impact statement ("EIS')
pursuant to the State Environmental Policy Act ("SEPA") of (a) potential alternatives
for redevelopment of all or a portion of the Renton Plant site and (b) related public
infrastructure. Resolution 3589 also established a conceptual public/private
framework for the eventual mitigation of the impacts of Renton Plant redevelopment
on transportation infrastructure and public services.
F. On December 4, 2002, Owner and Renton entered into an agreement
concerning the funding and construction of the extension of Strander Blvd. across
Owner's Longacres property ("Strander Agreement). Among other things, the
Strander Agreement establishes a $1.7 million transportation mitigation credit to
`Boeing that may be used to pay for transportation improvements needed to support
development of Owner's properties located in Renton.
G. On December 16, 2002, Owner submitted an application to Renton for
amendment of the Comprehensive Plan designation applicable to the Renton Plant site
("Comprehensive Plan Application") from III to Employment Area — Transition
("EAT"'). Renton elected to designate the area under a new Comprehensive Plan
designation and combine the Comprehensive Plan Application with amendments
proposed by Renton to the zoning text, zoning map and development standard for the
Renton Plant site
H. On December 20, 2002, Renton imposed, by Resolution 3609, a
Moratorium on development in areas of Renton, including the Renton Plant, zoned
1H. One stated reason for the Moratorium was Renton's desire to "provide adequate
time for Renton staff to prepare and present proposed changes to the Comprehensive
Plan and zoning" of those areas zoned heavy industrial (IM.
I. On January 13, 2003, the City Council held a public hearing on the
Moratorium. At the request of the Boeing Company, Renton amended the
Moratorium to allow Boeing to consolidate its facilities within the Renton Plant.
After the January 13, 2002 public hearing, the Renton City Council adopted
Resolution 3613 which continued the Moratorium in those areas of Renton zoned
[/BOEING 11-24-03.docl 11/24/03
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heavy industrial (", but also agreed to support Boeing's "Move -to -the -Lake"
including any required building modification or construction.
J. On June 9, 2003, the City Council amended the Moratorium for a
second time by the adoption of Resolution 3639. Resolution 3639 lifted the
Moratorium over I-H zoned areas located within the Employment Area -Valley
Comprehensive Plan designation. The Renton Plant is the only I-H zoned property of
any significant size that continues to be bound by the Moratorium, which is scheduled
to expire on December 2, 2003.
K. On March 4, 2003, Renton's Environmental Review Committee
("ERC') adopted a determination of significance for the Proposal. Renton issued a
Scoping Notice and Scoping Document for the EIS on March 10, 2003. On March
25, 2003, a public scoping meeting was held to receive written and oral comments on
the proposed scope of study. A Draft Environmental Impact Statement (DEIS) was
issued by the ERC on July 9, 2003. A public hearing was held on July 30; 2003. A
thirty day comment period on the DEIS was closed on August 8, 2003. The Final EIS
was issued on October 21, 2003.
L. Portions of the Proposal were the subject of a Renton Planning
Commission hearing held November 12, 2003; the Proposal and related modifications
to Renton's existing parking code, site development plan review ordinance, and
binding site plan ordinance were the subject of the City Council Hearing held on
November 17, 2003. The City Council adopted all by ordinance on November 24,
2003.
M. Owner has determined that the portions of the Renton Plant Site known
as Lot 3 and the 10-50 site will become under-utilized at the completion of Move -to -
the -Lake. Consequently, those portions of the Plant may be surplused and made
available for sale, in the near future.
IN LIGHT OF THE FOREGOING, and because successful redevelopment of
all or portions of the Renton Plant site will be of long-term benefit to both Renton and
Owner, Renton and Owner do hereby agree as follows:
III. AGREEMENT
1. Definitions
1.1 Arterial Roads means the primary public roads supporting District 1 and
2 Redevelopment, as diagrammed in plan and section and described on Exhibit 2
[/BOEING 11-24-03.doc] 11/24/03
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attached, with typical sections of the individual Arterial Roads shown in Exhibits 2A
through 2E (herinafter collectively referred to as Exhibit 2).
1.2 Boeing means The Boeing Company, a Delaware corporation, and
related or subsidiary entities.
1.3 Design Guidelines means the Urban Center Design Overlay Regulations
established by Renton to supplement the Development Regulations with respect to the
design of certain uses permitted within the UC-N zone.
1.4 Development Regulations means those portions of the Renton
Municipal Code (RMC) zoning provisions that govern certain aspects of site planning,
building design, landscape requirements and other elements of development within a
given zone.
1.5 District 1 means that area of the Renton Plant Site located east of Logan
Avenue, as designated on Exhibit 3 attached.
1.6 . District 2 means that area of the Renton Plant Site located west of
Logan Avenue, as designated on Exhibit 3.
1.7 Economic Benefit Analysis means the calculation of estimated one time
and recurring revenues and jobs generated by a proposed Redevelopment project.
1.8 Franchise Utilities means electricity, natural gas, telecommunications,
and other utilities not provided by Renton.
1.9 Interchanges mean access points from Renton roadways to and from
Interstate 405.
1.10 Intersections mean the general areas where two or more roadways join
or cross, including the roadways and roadside facilities for traffic movement within
them,
1.11 Land Use Policies and Regulations means Renton Comprehensive Plan
policies, Development Regulations and Design Guidelines.
1.12 Local Roads means all on -site roads that are not Arterial Roads and that
are necessitated by Redevelopment.
1.13 Off -Site Intersections means intersections not included within District 1
or District 2.
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1.14 On -Site Intersections means the intersections shown on Exhibit 4.
1.15 Owner means Boeing and any transferee or successor -in -interest of all
or any portion of the Renton Plant.
1.16 Proposal means, collectively, Owner's Comprehensive Plan Application
and related zoning and Development Regulation amendments proposed by Renton.
1.17 RMC means the Renton Municipal Code.
1.18 Redevelopment means construction of improvements to the Renton
Plant for uses other than airplane manufacturing or uses supporting or associated with
airplane manufacturing.
1.19 Renton Plant Operations means airplane manufacturing and supporting
or associated uses conducted on the Renton Plant Site.
1.20 Renton Plant Site means District 1 and District 2, collectively, as shown
on Exhibit 3.
1.21 Site Plan Process means the master planning and site plan requirements
of the RMC applicable to Redevelopment within the UC-N zone.
1.22 Subdistrict IA means that portion of District 1 commonly known as
Parking Lot 3 and. the 10-50 Building as shown on the Subdistrict IA Conceptual
Plan.
1.23 Subdistrict 1B means that portion of District 1 commonly known as the
10-80 site, Lot 10, and other Boeing -owned parcels east of Logan Avenue and south
of a Street.
1.24 Subdistricts means Subdistrict IA, Subdistrict 1B, and District 2,
collectively.
1.25 Utilities means water, sewer and stormwater system improvements that
serve the Renton Plant Site.
2. Basis of Agreement
2.1 Intent
This Agreement establishes certain roles and responsibilities for the potential
phased Redevelopment of all or a portion of the Renton Plant Site, including but not
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limited to Renton commitments for corresponding potential funding and construction
of certain public infrastructure improvements benefiting the Renton Plant Site and the
community at large and Owner commitments to participate in the funding of certain
public improvements, to fund all private aspects of Redevelopment, and to redevelop
the Renton Plant Site consistent with applicable Land Use Policies and Regulations.
2.2 SEPA Decision Document
This Agreement is entered into in lieu of a SEPA "Decision Document" and, as
such, establishes all SEPA-based conditions necessary to mitigate potential adverse
impacts of the Proposal, and Renton's approval of the Subdistrict I Conceptual
Retail Plan.
3. Redevelopment Planning
Redevelopment of the Renton Plant Site may occur incrementally starting with
properties within Subdistrict IA. Conceptual planning for the possible surplus and
sale of property will occur in three areas of the Renton Plant Site, Subdistrict 1 A,
Subdistrict 1B, and District 2, as illustrated in Exhibit 3. Conceptual planning,
pursuant to the requirements of this Agreement, will be supplemented by master
planning and site planning pursuant to the requirements of RMC 4-9-200.
3.1 Conceptual Plan
At the time at which Owner wishes to subdivide, develop, sell, or otherwise
alter any property within the Subdistricts for uses not related to airplane
manufacturing or supporting uses, it will submit to Renton a Conceptual Plan
including:
3.1.1. A narrative describing the conceptual Redevelopment proposal
and its relationship to the Renton's Comprehensive Plan Vision and Policies for the
Urban Center —North;
3.1.2 The estimated timing and sequencing of property surplus and sale
(if applicable);
3.1.3 A description of the proposed uses including the general mix of
types, estimated square footage of each building and parking for each structure,
heights and residential densities;
3.1.4 The general location of use concentrations (i.e., residential
neighborhoods, office or retail cores, etc.);
POLING 11-24-03.doe] 1124103
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3.1.5 Vehicular and pedestrian circulation that includes a hierarchy and
general location of type, including arterials, pedestrian -oriented streets, other local
roads and pedestrian pathways;
3.1.6 General location and size of public open space; and
3.1.7 An economic benefit analysis demonstrating the conceptual
development's anticipated economic impact to local, regional and state governments.
3.2 Conceptual Plan Approval
Owner will submit the Conceptual Plan to the City Council for approval. The
Council will base its approval on the proposed Conceptual Plan's fulfillment of the
adopted Comprehensive Plan Vision and Policies for the Urban Center —North.
3.3 Subsequent Land Use Approvals
Renton will evaluate all subsequent development permit applications within
the Subdistricts based on consistency with the approved Conceptual Plan. The process
for subsequent master plan and site plan approval is outlined in RMC 4-9-200.
3.4 Modifications to Approved Conceptual Plans
3.4.1 Modifications to an approved Conceptual Plan may be made after
an administrative determination of the significance of the proposed modification.
3.4.2 Minor modifications to an approved Conceptual Plan may be
approved administratively as long as the proposed modifications remain consistent
with the spirit and intent of the adopted Plan.
3.4.3 If it is determined that a proposed modification is inconsistent
with the spirit and intent of the adopted Conceptual Plan, or if an entirely new .
Conceptual Plan is proposed, City Council approval is required.
3.5 Subdistrict lA Conceptual Retail Plan
Owner has produced a Subdistrict 1 A Conceptual Retail Plan, attached as
Exhibit 5, that meets the requirements of Section 3, outlining proposed
Redevelopment of Subdistrict IA. By adoption of this Agreement, the City Council
approves this plan as the Conceptual Plan for Subdistrict IA.
3.5.1 The Subdistrict IA Retail Conceptual Plan includes development
of approximately 450,000 sq. ft. of large- and medium -format retail stores and
[/BOMG Dev Agreement 11-24-03.doe] 11/74tP3
Page 7
approximately 110,000 sq. ft. of small retail shops, as well as potential locations for
structured parking and upper story multi -family residential units or office uses.
3.5.2 An Economic Benefit Analysis for Subdistrict 1 A of the
Redevelopment, attached as part of Exhibit 5, demonstrates that the Subdistrict lA
Retail Conceptual Plan, which is forecast to produce estimated revenues to Renton of
approximately $1.2 million in one-time, construction related revenues and an
escalation to approximately $1.5 million in recurring annual revenues to support
Subdistrict IA Retail Redevelopment beginning in 2009, demonstrates revenues
sufficient to fund Renton's obligation to construct public infrastructure supporting
Subdistrict I Retail Redevelopment subject to Section 4, below.
3.6 Additional Planning Applicable
Owner acknowledges that additional site planning based on the requirements of
the RMC will be required for potential Redevelopment within the Subdistricts. For
example, should Subdistrict I be further divided by short plat, lot boundary
adjustment or otherwise, master planning and site planning for each parcel and
building site pursuant to RMC 4-9-200 would be required.
4. Infrastructure Required to Support Redevelopment
Transportation and trunk utilities anticipated to be necessary to support
Redevelopment and the manner in which each will be funded and developed are
discussed below. Exhibit 2 generally illustrates each segment of Arterial Roads.
Exhibits 6A, 6B, 7, 7A, 7B and 8 illustrate supporting trunk utilities. Exhibit 9
describes infrastructure components and corresponding anticipated cost.
4.1 Transportation Improvements
4.1.1 Arterial Roads Required at Full Build Out
The parties agree that the Arterial Roads diagrammed on Exhibit 2 and listed
on Exhibit 9, will be necessary to support full redevelopment of the Renton Plant Site,
including District 2, assuming an intensity of total site Redevelopment no greater than
Alternative 4 studied in the EIS.
4.1.2 Subdistrict 1A Arterial Roads
The parties agree that the Arterial Roads or portions thereof diagrammed on
Exhibit 10 as District 1, Subdistrict IA roads and listed by segment on Exhibit 9 are
anticipated to be necessary for full Subdistrict 1 A Redevelopment.
[/BOEING I1-24-03.doc] 1124/03
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4.1.3 Subdistrict 1B Arterial Roads
The parties agree that the Arterial Roads or portions thereof diagrammed on
Exhibit 10, with typical sections of the individual Arterial Roads shown in Exhibits
10A through l0E (hereinafter collectively referred to as Exhibit 10) as District 1,
Subdistrict 113 and listed by segment on Exhibit 9 are anticipated to be necessary for
full Subdistrict 113 Redevelopment.
4.1.4 Other Arterials
The cost of required improvements to arterial roads not addressed by this
Agreement will be paid by property owners or developers benefited by the
improvement based on a fair share allocation of total cost.
4.1.5 Arterial Road and Other Public Infrastructure
Funding
4.1.5.1 Renton agrees to design and construct the Arterial Roads
and certain other elements of public infrastructure specified below at Renton's sole
cost and expense; provided, that Renton will rely on revenues from sales tax on
construction, increased sales tax from Redevelopment improvements and the property
tax and other revenues generated by Redevelopment to fund its share of the public
infrastructure anticipated under this Agreement.
4.1.5.2 Renton will retain one-third (1/3) of the collected tax and
other revenues generated by Redevelopment, and will set aside the remaining two-
thirds (2/3) for infrastructure improvements anticipated in this Agreement as
necessary to timely support Redevelopment within the Subdistricts.
4.1.5.3 Renton intends to utilize limited tax general obligation
debt to fund Arterial Roads and other public infrastructure under this Agreement, to
be paid for by revenues generated by Redevelopment pursuant to the terms of
Section 4.1.5.1. For example, $12,000,000 in bonds would require approximately
$1,000,000 per year in debt service for a 20 year bond at 5% interest. Similarly,
$7,500,000 in bonds would require approximately $625,000 per year in debt service
and $4,000,000 in bonds would require approximately $333,000 in debt service.
4.1.5.4 Should tax revenues fall short of those necessary to timely
install all infrastructure improvements required for a particular Redevelopment
project, Renton may delay infrastructure construction until the tax revenue shortfall is
remedied.
[/BOEING Dev Agreement 11-24-03.doe) 1124/03
Page 9
..✓
4.1.5.5 In the event of an infrastructure delay, Renton will
immediately notify Owner and (if Owner is a non -Boeing entity) Boeing of its need to
delay and representatives of the parties will meet to discuss a cure, which may include
(at Owner's or Boeing's option) the provision of alternative financing pursuant to
Section 5 of this Agreement.
4.1.6 Arterial Rights of Way
4.1.6.1 Owner agrees to dedicate, at no cost to Renton, the land
necessary for the rights of way described in Exhibit 2, at the time that land on which
the rights of ways are located is sold; provided, that (a) Renton may request earlier
dedication, which Owner may approve in its sole discretion, which approval shall not
be unreasonably withheld, and (b) easements or license agreements will be provided
by Renton to Boeing, as Boeing deems necessary, to allow continued operation of
facilities within the right of way that support Renton Plant Operations. That is, the
parties intend that, if approved, such early dedication would not result in additional
cost to or dislocation of Renton Plant Operations.
4.1.6.2 Should there be Owner buildings located in the rights of
way, it shall be the responsibility of Owner to, at such time as the road needs to be
constructed, and upon Renton's request, (a) demolish such buildings and (b) cap and
abandon any underground facilities that would interfere with Renton's use of the
dedicated property for right of way purposes.
4.1.6.3 Park Avenue is constructed asymmetrically within the
current right of way. Expansion of Park Avenue anticipates use of the existing road
Some additional realignment may be necessary to connect Park Avenue to Logan.
Owner will dedicate the necessary right of way to realign Park Avenue to provide
symmetrical right of way and as anticipated for expansion under Exhibit 2. Renton
will vacate any excess right of way created by such realignment, at no expense to
Owner. Should Owner have a building occupying property that would need to be
dedicated to Renton for right of way, then Owner shall grant the right of way, except
for the portion occupied by the building. In such case Owner will reserve the right of
way for Renton, and provide the dedication at no cost to Renton when the building is
demolished.
4.1.6.4 Renton shall not vacate any right of way dedicated by
Boeing necessary to serve Redevelopment, until redevelopment is complete or upon
the approval of Boeing and Owner.
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4.1.7 Design Fund and Timing
4.1.7.1 Renton agrees, within 30 days of the date of this
Agreement, to earmark $1.5 million for funding of Arterial Road design and
engineering ("Arterial Road Design Fund" or "Fund"). The Fund will be utilized, as
needed, to ensure that design and engineering of the Arterial Roads occur in
collaboration with Owner and sufficiently in advance of Redevelopment project
construction to produce needed Arterial Roads in time to serve such Redevelopment.
The parties agree that Renton shall begin the consultant selection process for design
of Arterial Roads within 30 days of the date of this Agreement.
4.1.7.2 With respect to Subdistrict 1 A Arterial Roads, Renton will
begin design, through its consultant, of the intersection of Park and Logan as the first
task of the consultant selected pursuant to Section 4.1.7.1. This early design shall be
completed as soon as reasonably possible for the purpose of defining the location and
extent of the needed right of way of the intersection of Park Avenue and Logan
Avenue. Owner and Renton will consult on a right of way definition sufficient to
permit Owner to establish its property lines for purposes of sale.
4.1.8 General Construction Timing
Construction of allor portions of Arterial Roads required for each increment of
Redevelopment will occur based upon (a) need for that portion of the Arterial Road as
demonstrated by a SEPA environmental checklist prepared for that increment of
Redevelopment, a traffic study, or other documentation agreed to by the parties, and
(b) a construction schedule established by Renton and approved by Owner to ensure
final completion of such Arterial Roads, for each increment of Redevelopment, prior
to issuance of the first occupancy permit for that increment; provided, that if such
Arterial Road construction is not timely completed, Renton shall identify and
construct, at its cost, mutually acceptable interim access.
4.2 Intersections
4.2.1 On -Site Intersections
The cost of On -Site Intersections will be paid by Renton according to the
principles set forth in Section 4.1.5, except that Owner will pay (a) the cost of left turn
lanes necessary to provide access to Redevelopment and (b) that portion of the cost of
the traffic signal necessary to support left turn movements.
[BOEING 11-24-03_dcc] 11/24103
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r...
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4.2.2 Off -Site Intersections
The cost of Off Site Intersections will be paid jointly by the parties in shares
proportionate to the amount of predicted traffic using the development and the amount
of predicted traffic that is general pass -through traffic. These traffic predictions will
be made by use of a mutually acceptable traffic forecasting model. Owner's
contribution will be proportionate to the percentage of the traffic trips using the
development, and Renton's contribution will be proportionate to the percentage of the
traffic trips that are general purpose pass through trips.
4.2.3 Boeing Trip Allocation
Boeing agrees that it will allocate up to 1,500 of the "baseline trips"
established by the 2002 Agreement for Redevelopment of District 1. It is understood
that this Agreement is based upon reallocation of up to 1,500 trips in order to mitigate
or minimize the need for additional transportation improvements. The method, timing
and distribution of each trip shall be at Boeing's sole discretion. If, however, Boeing's
reservation of all or a portion of the 1,500 trips results in the need for transportation
improvements that would have been otherwise unnecessary, Boeing will bear the cost
of those improvements.
4.3 Interchanges
The parties agree to collaborate on lobbying and other efforts to receive state
and federal funding of I-405 interchange improvements that benefit Redevelopment.
4.4 Local Roads
Owner agrees to pay for all Local Roads required for Redevelopment.
4.5 Transportation Mitigation Fees
Renton agrees that Renton transportation mitigation fees assessed as mitigation
for Redevelopment will be used to fund off -site improvements, required to support
Redevelopment, in proportionate share of the cost of such improvements.
Notwithstanding the foregoing, transportation impact fees shall not be devoted to On -
Site Improvements or for site access improvements required by Redevelopment, such
as left turn lanes on periphery streets.
4.6 Strander Agreement Transportation Mitigation Fee Credits
The parties acknowledge that, at Boeing's sole discretion, all or a portion of
the reserve account established by the Strander Agreement may be utilized to pay for
[BOEING 11-24-03.doej 11/24/03
Page 12
all or a portion of Boeing's transportation obligations associated with Redevelopment,
except that such credit may not be applied to reduce Boeing's share of the On -Site
Intersection improvements addressed by Section 4.2.1.
4.7 Water
4.7.1 Renton shall, according to the principles set forth in Section
4.1.5, install water lines to support redevelopment in coordination with the
construction of Arterial Roads.
4.7.2 Water lines installed shall be consistent with the "Option 1" plan
provided by Renton's Department of Planning, Building and Public Works, described
on Exhibits 6A and 6B, attached.
. 4.7.3 Owner and Renton will work together to create a water plan to
ensure provision of adequate routine (non -emergency) water and emergency water,
including fire flow protection, to the Renton Plant Site, for continued Renton Plant
Operations and for Redevelopment, including but not limited to an agreement that
water for Renton Plant Operations will be of adequate pressure, quantity, quality and
have required system redundancy.
4.8 Stormwater Conveyance
Renton shall, according to the principles set forth in Section 4.1.5, install a
stormwater drainage and collection system to support Redevelopment, in coordination
with the construction of Arterial Roads. The system to be installed is referred to as
Option I in Exhibit 7, which anticipates reuse of a portion of the Boeing stormwater
drainage and collection system. The segment lengths, type of imprgvement, needed,
right of way, length of laterals and estimated costs of these segments is set forth in
Exhibit 7A. If all or a portion of Boeing's stormwater drainage and collection system
is used, Boeing agrees to grant Renton an easement for maintenance, repair and
replacement of that system and title to the stormwater drainage and collection system
being used by Renton.
4.9 Sanitary Sewer
4.9.1 Renton shall, according to the principles set forth in Section
4.1.5, install sewer main lines to support redevelopment, in coordination with the
construction of Arterial Roads.
[BOEING I i-24-01doc] 1124/03
Page 13
4.9.2 Sewer main lines shall be installed consistent with the proposed
plan provided by Renton's Department of Public Works, described on Exhibit. 8,
attached.
4.10 Franchise Utilities
Provision for Franchise Utilities must be made, in conjunction with installation
of the Arterial Roads. Franchise Utilities and Owner shall bear the cost of any out-of-
pocket design costs, extra trenching, conduit, sleeves or other installations to provide
for Franchise Utilities. Owner and Renton agree to reuse existing assets, if both
parties agree that such reuse is feasible.
5. Alternative Financing
5.1 Triggering Events
Should Renton be unable to timely fund public infrastructure improvements or
should Owner or Boeing (if Owner is a non -Boeing entity) determine that it requires
construction of all or a portion of public infrastructure for Redevelopment on a
schedule more expedited than this Agreement provides, then, subject to the provisions
of Section 5.1 hereof, the parties hereto agree that, Owner or Boeing may choose, at
its sole discretion, to provide alternative financing for all or a portion of public
infrastructure by one of the following means:
5.2 Potential Alternative Financing Methods
5.2.1 Owner or Boeing or some other party may build all or a portion
of the Arterial Roads and other mfi ashucture improvements described in Section 4 of
this Agreement and sell all or any portion of the public infrastructure to Renton or
other applicable governmental authority pursuant to a conditional sales contract, lease
purchase or installment purchase arrangement or similar method, the effect of which
shall be .to cause the lease or purchase payment obligation to qualify as a promise to
pay within the meaning of Section 103 of the Internal Revenue Code of 1986, as
amended.
5.2.2 Renton, or some other governmental authority, may issue
revenue bonds if and to the extent that the property to be financed is to be included in
a utility, system or similar enterprise with respect to which revenues are expected to
be available for the ultimate repayment of the capital cost of such property.
[BOEING 11-24-03.docl 11/24/03
Page 14
5.2.3 Renton may issue such other or further debt or other obligations,
including any tax increment obligations, which Renton is now or hereafter legally
authorized to issue.
5.2.4 To the extent that any alternative financing may be structured in
a manner which will permit nationally recognized bond counsel to opine that the
interest on any obligation is excludable from gross income of the holder of any
obligation for federal income tax purposes, then Renton and Owner or Boeing
covenant and agree to cooperate in good faith to structure the alternative financing in
such manner.
5.3 Repayment
5.3.1 In the event that Owner or Boeing exercises its right of
alternative financing pursuant to Section 5.1, the parties shall cooperate in good faith
to enter into an agreement, pursuant to which the parties shall identify any and all
fees, user charges, revenues, taxes and other benefits which are expected to result
directly or indirectly, either from the public infrastructure so constructed or acquired
or from the transactions contemplated hereby, in order to determine the aggregate
benefits to Renton and any other funds that Renton may obtain from other
governmental authorities.
5.3.2 The parties agree that they shall, to the maximum extent not
prohibited by law, directly or indirectly allocate two-thirds (2/3) of such taxes,
revenues and other benefits identified in 5.3.1, over time, to pay amounts due with
respect to alternative financing, or to reimburse Renton or related governmental
authority therefor. To the extent that such benefits are not permitted by law to be
directly allocated to pay debt service or similar obligations, the parties hereto agree
that such benefits shall nonetheless be taken into account directly or indirectly in
determining the total amounts of public resources which shall be allocated to repay
such costs, so that the net benefits resulting from the transactions and public
infrasti ucture are allocated or deemed allocated for such purposes, in a fair and
equitable manner. It is finther agreed that any costs of issuance of such public
financings, any capitalized interest thereon or any similar fees and expenses shall, to
the extent permitted by law, be included in the amount so financed and shall be
similarly repaid.
[/F30EfNG 11-24-03.dcc] 1124/03
Page 15
°`.r
6. Vesting
6.1 Site -Wide Vesting to Comprehensive Plan, Zoning Use
Tables, and Site Plan Process for Term of Agreement
Upon signing of this Agreement, the Renton Plant Site is vested through the
term of this Agreement to the Comprehensive Plan and Zoning Use'tables, and Site
Plan Process in place as of the date of this Agreement.
6.2 Additional Vesting to Development Regulations and Design
Guidelines at Time of Conceptual Plan Approval
6.2.1 Generally
Vesting to Development Regulations and Design Guidelines shall occur at the
time of Conceptual Plan approval pursuant to Section 3.2 of this Agreement. Such
vesting shall extend for three years from the date of Conceptual Plan approval for
Subdistricts I and 1B, and extend for five years from the date of Conceptual Plan
Approval for District 2 ("Conceptual Plan Vesting Period"). Development
Regulations and Design Guidelines may be extended beyond the Conceptual Plan
Vesting Period if a materially complete application for master plan approval, pursuant
to RMC, for all or a portion of the Conceptual Plan area is submitted to Renton prior
to the end of the Conceptual Plan Vesting Period, in which case such vesting shall be
extended as to duration and area only for the master plan area according to the terms
of the master plan approval.
6.2.2 Vesting to Development Regulations and Design
Guidelines for Subdistrict 1A Conceptual Plan
The Subdistrict 1 A Conceptual Retail Plan approved pursuant to Section 3.2 of
this Agreement is hereby vested for three years as provided by Section 6.2.1.
6.2.3 Additional Time Necessary to Finalize Non -Retail
Development Regulations and Design Guidelines
The parties acknowledge that non -retail Development Regulations and Design
Guidelines will not be in final form as of the date of this Agreement. Renton shall
consult with Boeing as it finalizes such standards and guidelines and make best efforts
to submit such non -retail Development Regulations and Design Guidelines to City
Council for adoption, no later than April 1, 2004.
[BOEING 11-24-03.doc) 1124103
Page 16
6.2.4 Changes to Applicable Land Use Policies and
Regulations
During any vested period, should Renton amend its Land Use Policies and
Regulations, Boeing may elect to have such amended Policies and Regulations apply
to Redevelopment; provided, that the Development Services Director must agree to
such election, which agreement shall not be unreasonably withheld.
Notwithstanding the foregoing, Renton reserves the authority under RCW
36.70B.170(4) to impose new or different regulations, to the extent required by the
federal or state governments, or by a serious threat to public health and safety, such as
changes or additions to the family of building and fire codes, as determined by the
Renton City Council, after notice and an opportunity to be heard has been provided to
Owner.
7. Additional Development Agreements May Be Necessary
The parties agree that other development agreements, in addition to and
following this Agreement, may be necessary to guide Redevelopment over time. That
is, should all or a portion of District 2 be surplused, the parties anticipate that this
Agreement would be supplemented by one or more additional development
agreements, addressing issues such as open space, and new internal public and private
road network and public facilities.
For example, the parties anticipate that construction of additional water,
sanitary and storrawater utility infrastructure, necessary for the Redevelopment of
District 2, beyond that associated with the Arterial Roads discussed in Section 4, and
which have been conceptually reviewed by Renton, as shown in Exhibits 6, 7 and 8,
will be covered by future development agreements, and that the cost of such will
generally be the responsibility of Owner.
In addition, the parties anticipate that District 2 Redevelopment will include
public and private open space amenities. Such amenities may include one or more
contiguous parcels that provide recreational amenities and public access to Lake
Washington, create view corridors to Lake Washington and Mount Rainier, and serve
as focal points for Redevelopment.
8. Marketing Information
Boeing will generally share with Renton marketing information for Renton
Plant Redevelopment efforts so that Renton will be informed about the marketing
[BOEING 11-24-01doc] 11/24/03
Page 17
1n
process, and additionally, so that Renton can adequately respond to inquiries by
prospective purchasers.
9. Potential Renegotiation
Based upon changed or unforeseen circumstances, Renton or Boeing may
request renegotiation of one or more of the provisions of this Agreement, which
request shall not be unreasonably denied.
10. Termination of Moratorium
Renton agrees that the Moratorium shall terminate or expire on December 2,
2003 or on the date that the Proposal takes effect, whichever occurs first.
11. 2002 Agreement
This Agreement shall not be deemed to amend or supersede the 2002
Agreement, which remains in full force and effect.
12. Recording
This Agreement, upon execution by the parties and approval of the Agreement
by resolution of the City Council, shall be recorded with the Real Property Records
Division of the King County Records and Elections Department.
13. Successors and Assigns
This Agreement shall bind and inure to the benefit of Owner and Renton and
their successors in interest, and may be assigned to successors in interest to all or a
portion of the Renton Plant Site.
14. Counterparts
This Agreement may be executed m counterparts, each of which shall be
deemed an original.
15. Termination
This Agreement shall terminate on December 31, 2020.
AGREED this day of Dj4zmt& (z , 2003.
[BOEING 11-24-03.doc] 11/24/03
Page 18
M
E5
CITY OF RENTON
By:
Its
Jesse Tanner
ATTEST:
By:
Its
Bonnie I. Walton -
City Clerk
VA �ii
Approv to fo
SEAL
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City Attorney
qzG MPArM4 ' t u"_1 X0V11M�R
Cdlettelemmlnk
IWDXRIwd Sig
ice President
i Jt1Af�a1 i •,
STATE OF WASHINGTON)
) ss. :.4w'L01%
COUNTY OF ) +y �.'°�3Ss�_�' s
On this 2' day of �.�003, before me, the undersigned,
a Notary Public in and for the State f Washington, duly commissioned and sworn,
personally appeared to me
941141
known to be the person who signed as irizd sma:bNof the
i�h e corporation that executed thewMin ana foregoing
ano�vledged said instrument to be the free and voluntary act and
deed of said corporation for the uses and purposes therein mentioned, and on oath
stated that 6U was duly elected, qualified and acting as said officer of the
corporation, that 6W was authorized to execute said instrument and that the seal
affixed, if any, is the corporate seal of said corporation.
[BOEING 11-24-03.doc] I It24103
Page 19
IN WITNESS WHEREOF I have hereunto set my hand and official seal the
day and year fast above written.
- 14
[/BOEMG Dev Agreement 11-24-03-docl
iSignaVure of Notary)
.�t�.�- zan n b- 1-0"
(Print or stamp name of Notary)
NOTARY PUBLIC, in and fo=e-
My to
of Washington, residing at appointment expires: Cf bi
11/24/03
Page 20
STATE OF WASHINGTON)
' ) ss.
COUNTY OF )
On this _ day of 2003, before me, the undersigned,
a Notary Public in and 101, the State of YVashinoon, duly commissioned and sworn,
personally appeared I I Iftc, to . to me
known to be the person who signed as of THE
BOEING COMPANY, the corporation that executed the within andforegoing
instrument, and acknowledged said instrument to be the free and voluntary act and
deed of said corporation for the uses and purposes therein mentioned, and on oath
stated that -613L-- was duly elected, qualified and acting as said officer of the
corporation, that fjL was authorized to execute said instrument and that the seal
affixed, if any, is the corporate seal of said corporation.
IN WITNESS WHEREOF I have hereunto set my hand and official seal the
day and year first above written.
[BOEING Dev Agreement 11-24-03_doel
LI IMA',!,
" om "m 7,14
NOTARY PUBLIC in and �fQr the State
at t of Washington, residing V !tom
My appointment expires: 7--A,6 p
11/24M
Page 21
LEGAL DESCRIPTION
Tracts A, B, C, D, E, F, G and H located in Sections 5, 6, 7 and 8, all in Township 23
North, Range 5 East, W.M., described as follows:
TRACT A (Tax Parcel Nos. 082305-9019, 082305-9209 & 722300-0105 - portion)
Parcels A and B of City of Renton of Renton Short Plat No. 093-89, according to the
short plat recorded under King County Recording No. 8911149006, records of King
County, Washington; TOGETHER WTTH that portion of the northwest quarter of the
southwest quarter of said Section 8, lying southerly and easterly of Parcel B of said short
plat and westerly and northerly of Park Ave N, and N. 6d' St., respectively.
TRACT B (Tax Parcel No. 756460-0055)
Lots 1 through 13, inclusive, Block 11 of Renton Farm Plat, according to the plat thereof
recorded in Volume 10 of Plats, page 97, records of King County, Washington;
TOGETHER WITH Lots .1 through 12, inclusive, of Sartorisville, according to the plat
thereof recorded in Volume 8 of Plats, page 7, records of King County, Washington;
EXCEPT that portion known as Lot 3 of City of Renton Short Plat No. 282-79, according
to the short plat recorded under King County Recording No. 7907109002, records of
King County, Washington; and EXCEPT roads.
TRACT C (Tax Parcel Nos. 722300-0115 & 722300-0105 - portion)
Blocks 3 and 4 of Renton Farm Acreage, according to the plat thereof recorded in
Volume 12 of Plats, page 37, records of King County, Washington; TOGETHER WITH
those portions of the alley vacated under City of Renton Vacation Ordinance Nos. 3319
and 4048 and the street vacated under City of Renton Ordinance Nos. 3319 and 3327 as
would attach by operation of law; and TOGETHER WITH that portion of the northwest
quarter of the southwest quarter of said Section 8 lying southerly of the southerly right of
way margin of N. 8d' St, eastedy of the easterly right of way margin of Park Ave N. and
north of the south 315 feet thereof.
TRACT D (Tax Parcel Nos. 082305-9220, 082305-9221, 082305-9222 & 082305-9011)
Lots 1, 2, 3 and 4 of City of Renton Short Plat No. LUA-01-056-SHPL, according to the
short plat recorded under King County Recording No. 20011205900004, records of King
County, Washington.
in
M
TRACT E (Tax Parcel Nos. 082305-9037, 082305-9152, 082305-9079, 082305-9204)
Those portions of said Government Lots 1 and 2 of Section 7, lying within the abandoned
Burlington Northern Railroad right of way (formerly Northern Pacific, Lake Washington
Belt Line) and northerly of the northerly right of way margin of N.6' St.; TOGETHER
WITH said northwest quarter of the southwest quarter of Section 8, lying northerly of the
northerly right of way margin of N. 6d' St and westerly of the westerly right of way
margin of Park Ave N.; EXCEPT City of Renton Short Plat No. 89-093, as recorded
under King County Recording No. 8911149006; and EXCEPT that portion of said
northwest quarter of the southwest quarter lying southerly and easterly of said short plat;
and TOGETHER WITH those portions of said Government Lots 1, 2 and 3 and the
southeast quarter of the northwest quarter of Section 8, lying westerly and northwesterly,
respectively, of the westerly right of way margin of Park Ave N. and the northwesterly
right of way margin of the North Renton Interchange (SR 405), westerly of a line that
intersects with said northwesterly right of way margin of the North Renton Interchange,
said line being described as beginning at Station 6+50 on the A -Line of the North Renton
Interchange, SR 405, as shown on Sheet 2 of 5 of PSH 1 (SR 405) North Renton
Interchange, Washington State Department of Transportation Right of Way Plan, and
ending northwesterly, perpendicular to said Station, at a point on the southeasterly margin
of the 100 foot main track of Burlington Northern Railroad, easterly and southeasterly of
the northwesterly right of way line of the abandoned Burlington Northern Railroad right
of way (formerly Northern Pacific, Lake Washington Belt Line); EXCEPT from said
abandoned railroad right of way that portion lying northwesterly of a line described as
follows:
Beginning at a point 50 feet southeasterly, measured radially and at right
angles to the centerline of the Burlington Northern main track as now
constructed, from Survey Station 1068+00, said point being on the
southeasterly right of way margin of the 100 foot wide right of way;
Thence northwesterly along said radial line a distance of 25 feet; Thence
southwesterly in a straight line to a point 25 feet northwesterly, measured
from the southeasterly right of way line at Station 1074+00; Thence
continuing southwesterly at an angle to the right, to a point on the
northwesterly margin of the 100 foot Burlington Northern Railroad right of
way, said point also being on the southeasterly line of the Spur Tract at
Headblock Station 8+95.5 and the end of said described line: and
EXCEPT that portion of said Government Lot 2 described as follows:
Beginning at an intersection of the southeasterly right of way margin of said Burlington
Northern Railroad and the northwesterly margin of vacated Mill St (Park Ave N.) per
Vacation Ord. 2513; Thence southwesterly along said southeasterly margin of the
railroad right of way, a distance of 60 feet; Thence southeasterly, at right angles to said
railroad right of way, a distance of 10 feet, more or less, to a point on the northwesterly
right of way margin of said vacated Mill St (Park Ave N.); Thence northeasterly along
said Mill St. to the point of beginning: TOGETHER WITH portion of Vacated Lake
Washington Boulevard adjoining.
TRACT F (Tax Parcel Nos. 072305-9046 & 072305-9001 — portion)
That portion of the SE 1/ of the SE 1/a of said Section 7, lying southerly of N. Oh St.,
westerly of Logan Ave N., easterly of the Cedar River Waterway (Commercial Waterway
No. 2), and northerly of that certain tract of land conveyed to the Renton School District
by Deed recorded under King County Recording No. 5701684.
TRACT G (Tax Parcel No. 072305-9001 & 082305-9187)
That portion of said NE 1/ and SE 1/ of Section 7, NW 1/ of Section 8, SW 1/ of Section
5, and the SE 1/ of Section 6, lying north of N. 6"' Street, easterly of the Cedar River
Waterway (Commercial Waterway No. 2), westerly and northwesterly of the westerly
right of way line of the abandoned Burlington Northern Railroad (formerly Northern
Pacific, Lake Washington Belt Line) and northwesterly of the northwesterly line of the
railroad spur track beginning at Headblock Station 8+85.5, westerly of Lots "A" and 'B"
of City of Renton Lot Line Adjustment No. LUA-98-176-LLA as recorded under King
County Recording No. 9902019014, and southerly of the Lake Washington Inner Harbor
Line; EXCEPT Logan Ave N.
TRACT H (Tax Parcel No. 072305-9100)
That portion of the Burlington Northern Inc. (formerly Northern Pacific Railway Co.)
100 foot railway right of way in said SE 1/ of Section 7 and SW 1/ of Section 8, lying
north of the northerly right of way margin of N. 4a' Street and southerly of the southerly
right of way margin of N. 6a' Street.
All situate in the City of Renton, King County, Washington.
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EXHIBIT"' 5 "
BOEING'S
CONCEPTUAL URBAN RETAIL PLAN
Renton, Washington
Submitted to the City of Renton
November 17, 2003
M
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CONCEPTUAL URBAN RETAIL PLAN
Lot 3 and 10-50 Sites
Renton, Washington
Background
The Boeing Company has been working with the City of Renton for more than a year
in evaluating potential redevelopment strategies associated with its 737 facility in
Renton, Washington. This Conceptual Plan illustrates the. Boeing Company's.vision
for the redevelopment of the first piece of the Renton Plant to be made available for
non -industrial uses. The Plan includes that portion of the property commonly
referred to as the Lot 3 and 10-50 sites, which have been determined to be non-
essential to the ongoing airplane manufacturing activities as Boeing completes Its
"Move -to -the -Lake" consolidation plan.
The Plan covers approximately 53 to 55 acres of gross land, of which approximately
8 acres are reserved for the development of four new arterial streets that are
essential to the ultimate redevelopment of the entire 280=acre campus. The.
remaining 45 to 47 acres of land will be marketed to entities interested in developing
an integrated retail center on the site, consistent with this Conceptual Plan.
Included within this submittal are a narrative description of Boeing's proposal, a
Conceptual Planning Diagram with supporting pedestrian street sections, and an
economic benefit analysis demonstrating a range of potential one-time and recurring
revenues generated by the proposed development. Boeing seeks the City's approval
of this Conceptual Plan so that Boeing can complete the necessary lot line
adjustments and begin actively marketing the property to local, regional and national
developers and users.
The aerial on the following page highlights the location of the proposed retail site In
relation to Boeing's remaining land holdings and the surrounding North Renton
neighborhood.
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Conceptual Urban Retail Plan
Boeing believes that high -quality retail development is essential to the successful
transition of the area from its industrial roots to the City's vision for the Urban
Center -North. A well -designed retail center will provide employment, diversify the
economic base, offer a new source of municipal revenue, and will attract other
alternative and potentially higher and better uses to the surrounding area.
The Conceptual Plan for the Lot 3 and 10-50 sites, located on the following page,
illustrates the cohesive redevelopment of the parcels into an urban retail center. The
Plan contains a mix of large format "destination" retailers, mid -sized retail anchors,
as well as small shop space concentrated along Park Avenue, envisioned as the
significant pedestrian -oriented street In the area. The Plan responds to the presence
of the existing Fry's building on the property to the east of Garden Avenue, and
anticipates that ultimate redevelopment of the northern portion of that site will relate
directly to the development occurring on Boeing's property.
The site Is bound by a combination of existing and new public roadways, which
segregate the property Into four quadrants ranging between 6 and 19 acres in size.
Boeing is seeking buyers for the 45- to 47-acre property to undertake a cohesive
redevelopment. Generally, the large format retail development (users with
footprints of 50,000 square feet and larger and building feature heights up to 45 feet
tall) is planned to occur along 8t', Logan and Garden Avenues, facing inward and
supported by well -organized parking areas internal to the site. These destination
retail uses will naturally locate themselves along the widest portions of the property,
with good freeway visibility, much like the recently completed Fry's development on
the eastern side of Garden Avenue.
Medium format retailers (ranging between 10,000 and 50,000 square feet in area,
with building feature heights up to 40 feet tall) are assumed infill between the large
format tenants, with primary pedestrian entrances facing inward or directed toward
Park Avenue. Again, parking is assumed to be concentrated within each segment of
the site, to allow for potential "second -generation' redevelopment at higher
densities, if achievable.
The northwest quadrant of the property is Identified as one potential location for a
mid- to high-rise development, which could take the form of a multi -level podium
parking structure, with multifamily residential or office uses above. This ultimate
development could Initiate the truly urban vision for the area and, together with
pedestrian scale treatments at the corner of Park and Logan, would Identify this as
the "gateway" to the Urban -Center North.
Small, specialty retail shops and amenities would be concentrated primarily along
Park Avenue. The scale of development is more Intimate here, with an eclectic mix
of uses, architectural styles and gathering places. In some instances, single story
retail uses may be topped with one to three levels of apartments or professional
office uses, all overlooking Park Avenue and the activity along the street edge.
Together, the large- and medium -format users total! approximately 450,000 square
feet of space; the smaller shop space totals approximately 110,000 square feet, or
20% of the center.
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CONCEPTUAL
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Hierarchy of Streets
Key to the successful development of the property is the reconfiguration and
Improvement of Park Avenue to serve as a critical pedestrian -oriented street in the
project. To accommodate full redevelopment of the Renton Plant properties, the
ultimate build out of Park Avenue will need to allow for four travel lanes and a center
turn lane, designed for vehicular travel up to 35 miles per hour. To support the
vision for the development of an urban retail center in this location, a generous
sidewalk with street trees and on -street parking for Park Avenue is being proposed
to enhance the environment in the public realm and encourage people to make Park
Avenue a pedestrian street. An illustrative street section for Park Avenue can be
found on the following page.
The other major north -south connection is Logan Avenue, which extends from 6"'
Avenue to the south and joins Park Avenue in the north. The construction of Logan,
providing direct access to I-405, will be an Important alternative through connection
to ensure Park Avenue functions as a pedestrian -oriented shopping street. At the
outset of redevelopment In the area, Logan is envisioned as a three -lane street, with
one travel lane in each direction and a center -turn lane. Ultimately, Logan will
expand and function even more so as a higher -speed alterial.
The east -west arterial roadways, 10"' and 8"' Avenues, are less critical to the
successful development of -the urban retail center, other than serving as access
points to the center off of Park Avenue. Connections from 10"' and 8"' to Logan
Avenue, if constructed, would be favorable, -but the center would function as well
with access only off of Park, the existing leg of 8"' and Garden Avenues.
Urban Center —North Vision and Policies
This proposed Conceptual Urban Retail Plan meets many of the City's vision and
policy statements for the Urban Center -North, which call for "retail Integrated into
pedestrian -oriented shopping- districts" and recognizes that:
"At the beginning of this transition, uses such as retail ... may be viable without the
office and residential components that ultimately will contribute to the urban
character of the district." The City's vision plans for the transition of the area over a
30-year horizon and anticipates that redevelopment. will need to address the
potential for future infill to allow areas to further grow to urban densities. This site is
located within District 1, where the City identifies its first objective as follows:
"Create a major commerdal/retail district developed with uses that add significantly
to Renton's retail tax base, provide additional employment opportunities within the
City, attract businesses that serve a broad market area and act as a gathering place
within the community."
Boeing's Conceptual Urban Retail Plan seeks to both allow for the near -term
redevelopment of Boeing's underutilized assets while advocating for a mix of uses
that improves the City's tax and employment base. As is illustrated within the
attached economic benefit analysis, more than 1,300 jobs would be created in the
City of Renton by a redevelopment of this scale. The City would collect more than
$1.2 million in one-time revenues during development and the City would receive
over $1.5 million in annually recurring tax revenues at full build out.
M
Summary
Boeing believes that its Conceptual Urban Retail Plan illustrates the optimal
development plan for this 45 to 47 acres of land in North Renton. The Plan offers the
opportunity to contribute to the transition of the area from a primarily industrial
neighborhood to a higher Intensity and range of viable uses, providing both jobs and
a significant source of new revenue to support the CRy's objectives for the area.
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SUMMARY
CITY OF RENTON ECONOMIC BENEFITS
Retail Redevelopment on Part of Boeing s Renton Plant Site
Economic benefits to the City of Renton of re -developing 46 acres of the Boeing
Renton, Washington plant site follow. Derivation of these 'benefit estimates is based
on a set of realistic assumptions that correspond to development of 451,000 square
feet of retail big/medium box space and 110,000 square feet of retail shop space.
➢ At full absorption of the above 561,000 square feet of retail space on a
redeveloped portion of the Boeing Renton plant site; it is -estimated that 2,197
permanent jobs would-be created throughout the region.
➢ Of this total, a projected 1,132 direct jobs would bo'created at the targeted 46-
acre Boeing Renton site plus 266 additional indirect jobs within the City of
Renton, assuming a 25 percent capture rate.
➢ It is estimated that these 1,398 direct and indirect jobs in the City of Renton
would generate an additional $45.4 million in recurring :annual income earned
-inside the City once full occupancy of this new retail space occurs at the
Boeing Renton plant site.
➢ The corresponding increase in property values by redeveloping this 46-acre
portion of the Renton Boeing site into retail uses is forecast to total nearly $66
million upon completion in 2009.
➢ The increase in annually recurring tax revenues to the City of Renton at full
build -out is estimated at over $1.5 million starting in 2009.
This is in addition- to over $1.2 million in one-time City revenues collected
during. land redevelopment and the construction of 561,000 square feet of retail
space on a part of the Boeing Renton plant site during the 2004-2008 period.
11/13/03 REAL ESTATE ECONOMICS
The data and calculations presented herein while not guaranteed, are obtained from sources deemed reliable.
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PERMANENT JOBS CREATED IN 2009
With Project Without Project
NEW JOB ANNUAL INCOMECREATED IN 2009
With Project Without Project
NEW CITY OF RENTON TAX REVENUES
2003 2004 2005 2006 2007 2004 2009 2010 2011 2012 2013
i Land Dev. ■ Building Dev. ■ Permanent Taxes
CURRENT ZONING SCENARIO REAL ESTATE ECONOMICS
Charts
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$ 97.74
S 31.75
Seleded State Revenues-mll�ons
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NEW PERMANENT JOBS CREATED BY 2M
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$197
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NEW JOB ANNUAL INCOME IN 2009
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Charts
NEW STATE TAX REVENUES
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■ Land Dev. Taxes ■ EMk%ny Dw. Taxes ❑Peramwd Taxes
NEW RECURRING STATE REVENUES
WM WM PmOd $0.114
WMh Project $10.471
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Assumptions
DEVELOPMENT ASSUMPTIONS`
VALUE
SOURCE
Redevelopment Land
Total buildable redevelopment land area --'net" acres
45.68
Heartland
Total buildable redevelopment land area-'mC sq. tt.
1,989,821
Heartland
Land Development
Land Development Constrvction Costs
s 14,314,177
Heartland
Land improvement construction duration - years
1.0
REE/ Heartland
Percent design 3 management
10.0%
REE
Percent construction labor
36.014
REE
Percent materials
54.0%
REE
Building Development Paranwters
Change in assessed vale
S 65,996,257
From AV estimates
Percent design and management -commercial
10.0%
REE
Percent construction tabor - commercial
36.
REE
Percent corahiction materials b services - commercial
54.0%
REE
Billing rtx> 4*w for design and management
2.5
REE
Billing muIfiP w for construction
2.0
REE
Property development duration - years
4.0
Heartland
Ratan-BVM*d Box
Gross square feet of retail space
451.000
Headland
Load factor --retail space
5%
Heartland
Budding construction cost /sq.f .-retail space
S 120
Heartland
Sq it per employee - big box retail
600
REE
Retail sales per sq. R.-big box retail
275
REE
Retail —Shop Space
Gross square feet of retail space
110.000
Heartland
Load factor- etal space
5154
Headland
Building construction cost /sq.ft.--retail space
$ 130
Heartland
Sq it per employee -Shop Spans
250
REE
Retailsales per sq.fL
250
ULl 8 REE
ECONOMIC ASSUMPTIONS
Indirect Jobs Multiplier for recurring jobs
1.941
REE
Indirect jobs multipber for land development constuction jobs
2.486
REE
I ndired jobs rnulWw for regular o mmirudion jobs
2.667
REE
Shave of indked jobs domed by Renton
25%
REE
Share of indired Income captured by Rsnton
25%
REE
KxVCo. est. average FTE wage for direct recurring retail jobs on. -site
$30,000
ESD & REE
King Co. average annual wage for all indmad jobs
$43,000
ESO & REE
King Co. average annual wage for projed dosigrAnarwagement
$65,000
REE
Average annual wage for ona4lim conshiction jobs
$49,000
REE
Gross
111 000
WDR 3 ESD
TAX BASE AND REVENUE ASSUMPTIONS
Improved land as %of total assessed value of redeveloped property
30.0%
REE
Real estate turnover rate
10.0%
REE
Total assessed value of 'exWJ ng' reuse property land
S 16,648,400
Heartland
Total assessed value of 'exWW reuse property Irnprovements
15,19k2W
Heartland
9rWW msuft are not guaranteed, but we betel on what are desnwd "reasonable' aswrn* nt.
Renbn Urban, vilago-P—FINA. 11113103 Page 1
The data sad caladalons presented h« while not gumanMed, have been obWW Imm sowom belayed no be reliable. REAL ESTATE ECONOWCS
,%W
Summary
One-time land
One-time Building
Recurring
Development
Develoixnent 2005-2006
in 2009
JOBS
Direct Jobs
61
73
1,132
Indirect Jobs
91
122
1,065
Total Jobs
153
196
2,197
INCOME
Direct Income
$
3,149,119
$
15,052,400
$
33,962,500
Indirect Income
3,922,789
21034 316
45,807,488
$
7,071,908
$
36,086,716
$
79,769,988
Total Income
PROPERTY VALUE INCREASES
Not applicable
Not applicable
$
65,996,257
TAX BASE INCREASES
Assessed Valuation
Not applicable
Not applicable
$
65,9%,257
Retail Sales
$
12,882,759
$
61,578,000
$
143,948,750
Real Estate Sales
Not applicable
$
97,742,857
$
6,599,626
Gross Business Receipts
$
14,314,177
$
68,420,000
$
143,948,750
SELECTED TAX REVENUE INCREASES
(Property, sales, B&O and real estate)
State Taxes
$
1,189,652
$
5,143,454
$
10,356,729
Local Taxes
City of Renton —property 100% In city
$
245.167
$
959,786
$
1,554,562
rty 0% in county
$
17,392
$
83,130
$
95,695
Renton thb-V-i 3qe-P—MA. 11/13103 page 1
The dam .nd cal uW— presented herein wt" not p mra %eea. h. b..n WWrwd tram sources W-&e to to MWA9. REAL ESTATE ECONOMICS
m
m
Business Receipts
Land Use
Net Retail Sales
Annual
Annual
Sgft per sgft
Retail Sales
Employment
Gross necelpts
Retail—BWMed Box
428,450 $ 275
$ 117,823,750
714
$ 117.823.750
Retail -Shop Space
104,500 $ 250
$ 26,125,000
418
$ 26,125,000
TOTAL
532,950
$143,948,750
1,132
$143,948,750
Renton Urban Wage-P--FM id,11113103 Page 1
Mm data and caWAwn pres«Med herein whie not tlu w&wd, have been obtakied tram wwm boWved lobe reliable. REAL ESTATE ECONOMICS
f Taxbases
One-iime through One-time Buildirtg
Land Developmerit Deve 2005 thxu 2006 at 2009
Assessed Valuation
$ 65,996257
Real Estate Sales
$29,322.857
$ 97.742.857
$ 6,599.626
Retail Sales
$ 12,882,759
$ 61.578,000
$ 143,948,750
Gross Business Receipts
$ 14,314,177
$ 68,420,000
$ 143,948,750
Renton Urban Wage-P--FIN-A.11/13/03 Page 1
The date wW mlcu Yons presented herdn w60e not Wmmvteed, have been obt&W from wimm bAr4ed to be iek"e. REAL ESTATE ECONOMICS
►�J
m
Bldg. Start Year 2005
Assessed Valuation
ASSESSED VALUATION
Gross
Const. Construction
% Land
TOW New
By Land Use
Sq Ft
Cost 1Sg Ft Value/Sq Ft
of Total
Land AV
ReW—V#Med Box
451,000
$ 120.00 $54.120,000
30%
$23.194.286 $77,314,?86
Retd--Shop Space
110,000
$ 130.00 $14,300,000
30% _
$6,128,571 $20.428.571
SUBTOTAL
$ 68,420,000
$29;322,857 $97,742,857
Less existing land valuation
-($16,548,400)
Less existing hpmvement valuation
($15,198,200)
TOTAL INCREASE-S
661,000
$ 65,996,257
Renton Urban V03ge-P--FINx1,11113I03 Page 1
The daft and caiarlef ons Pre&~ heroin While not puarardesd, have bean obtained Ian sources bellwed to be m6". REAL ESTATE ECONOMICS
10
NOW,
Start Year 2005
Commercial
New SgFt Per Net
Gross
ReW—Big/AAed Box 714 600 428,450 451.,000
Retail —Shop Space 418 250 104,500 110,000
TOTALS 1 1,132 532.950 561.000
Renton Urban Wage-P—FIN.A,11113N3 Px9e i
The data and cataAabons presented Aorein %,hk rat guaranteed. hew been obtained Uan sources beiewd b be rebabie_ REAL ESTATE ECONOMICS
M
Onetime Jobs
Item
From Development
Of Land
From Development
Of Bufidkws
PROFESSIONAL JOBS
Design and management costs
$
1,431,418
$
6,842,000
Average salary
$
65,000
$
659000
Biging multiplier
2.5
2.5
Professional job years
9
42
Total professional wages
$
572.567
$
2,736,800
Annual professional wages
$
572,567
$
684,200
Project duration in years
1
4
Professional jobs created
9
11
CONSTRUCTION JOBS
Construction labor costs only
$
5,153,104
$
24,631,200
Average salary
$49,000
$49,000
Ming multiplier
2.0
2.0
Constriction job years
53
251
Total construction wages
$
2,576,552
$
12,315,600
Annual construction wages
$
2,576,552
$
3,078,900
Project duration in years
1
4
Construction jobs created
53
63
Total Equivalent New Jobs
61
73
Annual Wage Income for New Jobs
3,149,119
3,763,100
Total Wage Income for New Jobs I
$
3,149,119
$
15,052;400
Renton Urban ViNaga-P- FIN-d, 11/1=3 PWJ81
The date and cWa lions W*sented hank%wM1. rwt yuwsmesd, hove bean obta:wd from sauces b4wW to be mg". REAL ESTATE ECONOMICS
w
Recurring Revenue
WA State
R revenues
2009
Tax Bass
2002 maxit> m
Tax Race
2009
Revenues
Property Tax
$65,9% 257
$3.6DOO
$237,587
Sales Tax
$143,948,750
6 5. %
$9.356,669
B & O Tax'
$143,948,750
0.471%
$6TT.9999
Real Estate Transfer
$6,599,626
1.28%
$U 475
TOTAL
$10,356,729
King County
Recuning revenues
2009
Tax Base
2002
Tax Rate
2009
Revenues
Property Tax
$65,9%.257
$1.4500
$95,695
Sales Tax
$0
1.00%
$0
B & O Tax
$0
0.00%
$0
Real Estate Transfer
$0
0.50% 1
$0
TOTAL
=95,695
Cky of Renton
Recurrby revenues
2009
Tax Base
2602
Tax Rae
2009
Revenues
Property Tax
$65,996.257
$3 5N
$221.067
Sales Tax
$143,948,750
0.85%
$1,223,564
B 3 O Tax
$143,948,750
0.00%
$0
Real Estate Transfer
$6,599,626
0.5D%
$32,998
Ernployee Head TeX Yr
1,398
$55.00
$76 912
TOTAL
51,554.562
'Wa Stab "0 Tax rats for retei(np
Renton Udw Wage-P--F W A. 11/13/03 Page 1
The data end cakuUtbec presented herein whie not guarar*edt have been obmined ft- sources believed to be reliable. REAL ESTATE ECONOMICS
Onetime Revenue
WA State
Land Dev.
Burildhv Dev.
2002 Tax
Land Dev.
Building Dev.
One time revenues
Period Tax Base
Tax Base
Rate
Lesimm
Revenues
Revawes
Sales Tax
$ 12,882,759
S 61,578,000
6.50%
10.00%
$753.641
$ 3,602,313
B & O Tax'
$ 14,314.177
$ 68.420,000
0.471%
10.00%
$60"
$ 290,032
Real Estate Transfer
S 29,322,857
S 97,742,857
1.28%
0.00%
$375
$ 1,251,109
TOTAL
I
1
1$1.189.652
$ 5,143,454
King County
Land Dev.
BuNdiny Dev.
2M Tax
Land Dov.
BuNdIhny Dev.
One time reverm"
Period Tax Base
Tax Base
Rate
Leakage
Revenues
Revenues
Sales Tax
S 12,882,759
$ 61.578,000
0.15%
10.00%
$17,392
$ 83,130
B & O Tax
$ 14.314,177
$ 68,420,000
0.00%
10.00%
$0
$ -
Real Estate Trarufer
$ 29,322,857
$ 97 74 B57
0.00%
0.00%
W
S
TOTAL
$17,392 1
$ 83,130
City of Ramon
Land Dev.
BuNding Dev.
2002 Tax
Land Dev.
BuNdinp Dev.
One time revenues
Period Tax Base
Tog Base
Rsk
Leakage
Raven ues
Revenues
Sales Tax
S 12,882,759
$ 61,578,000
0.86%
10.00%
SW553
S 471,072
B & O Tax
S 14.314.177
S 68,420,000
0.00%.
10.00%-
Real Estate Transfer
29,322,n7
$ 07,742
0.50%
0.00%
$146 614
$ 488.714
TOTAL
$245,167
S 95A,786
'Wa State UO Tax rate for rewft
Renton Urban Village-P--FINad, 11/13103 Page 1
The data and caladalione Preeen0ed here" wNle not Qua wdm d, have been Wake from sowam behoved b be reliaWa. R? ESTATE ECONOMICS
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ORDINANCE NO. 5107
ILLUSTRATIVE MAP
--I j N 81f, St,.
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ORDINANCE NO. 5107
LEGAL DESCRIPTION
LOT 1 OF BOEING LAKESHORE LANDING BINDING SITE PLAN
ALL THAT CERTAIN PROPERTY SITUATE IN THE CITY OF RENTON, COUNTY OF KING,
STATE OF WASHINGTON, LYING WITHIN THE NORTHWEST QUARTER OF SECTION 8,
TOWNSHIP 23 NORTH, RANGE 5 EAST, W.M., BEING MORE PARTICULARLY DESCRIBED AS
FOLLOWS:
COMMENCING AT THE WEST QUARTER CORNER OF SAID SECTION, BEING A 4" X 4"
CONCRETE MONUMENT WITH A COPPER TACK, THENCE S89°28'22"E ALONG THE SOUTH
LINE OF SAID NORTHWEST QUARTER A DISTANCE OF 1,133.26 FEET;
THENCE N00056'42"E A DISTANCE OF 871.74 FEET TO THE TRUE POINT OF BEGINNING;
THENCE FROM SAID TRUE POINT OF BEGINNING N0056'42"E A DISTANCE OF 141.03
FEET;
THENCE TANGENT TO THE PRECEDING COURSE ALONG THE ARC OF A CURVE TO THE
LEFT HAVING A RADIUS OF 547.50 FEET AND A CENTRAL ANGLE OF 28054'05", AN ARC
LENGTH OF 276.17 FEET;
THENCE TANGENT TO THE PRECEDING CURVE N27057'23"W A DISTANCE OF 50.69 FEET;
THENCE N70°54'57"W A DISTANCE OF 39.12 FEET TO THE BEGINNING OF A NON -TANGENT
CURVE TO THE RIGHT, THE RADIUS POINT OF WHICH BEARS N23°41'59"W;
THENCE SOUTHWESTERLY ALONG SAID CURVE, HAVING A RADIUS OF 1,066.50 FEET
AND A CENTRAL ANGLE OF 9055'55", AN ARC LENGTH OF 184.87 FEET TO A POINT OF
REVERSE CURVATURE;
THENCE TANGENT TO THE PRECEDING CURVE ALONG THE ARC OF A CURVE TO THE
LEFT HAVING A RADIUS OF 933.50 FEET AND A CENTRAL ANGLE OF 39000' 14", AN ARC
LENGTH OF 635.48 FEET;
THENCE TANGENT TO THE PRECEDING CURVE S37013' 42"W A DISTANCE OF 5.25 FEET;
THENCE S07053'04"E A DISTANCE OF 44.75 FEET TO THE BEGINNING OF A NON -TANGENT
CURVE TO THE LEFT, THE RADIUS POINT OF WHICH BEARS N37008'45"E;
THENCE EASTERLY ALONG SAID CURVE, HAVING A RADIUS OF 410.50 FEET AND A
CENTRAL ANGLE OF 46001' 14", AN ARC LENGTH OF 329.72 FEET;
THENCE TANGENT TO THE PRECEDING CURVE N81007'31"E A DISTANCE OF 211.31 FEET;
THENCE TANGENT TO THE PRECEDING COURSE ALONG THE ARC OF A CURVE TO THE
RIGHT HAVING A RADIUS OF 489.50 FEET AND A CENTRAL ANGLE OF 9026'36", AN ARC
LENGTH OF 80.68 FEET;
THENCE TANGENT TO THE PRECEDING CURVE S89025'53"E A DISTANCE OF 186.92 FEET;
THENCE N45045'24"E A DISTANCE OF 39.05 FEET TO THE TRUE POINT OF BEGINNING.
CONTAINING 299,538 SQUARE FEET +/- (6.88 ACRES)
November 15, 2004 ``w" Renton City Council Minutes 'Iftwl
410
Public Safety Committee Public Safety Committee Chair Law presented a report recommending
Police: Jail Bookings and Fees concurrence in the staff recommendation to accept jail bookings from other
municipalities on a space available basis, provided that staff develops language
acceptable to the Council regarding liability coverage prior to entering into
contracts. It is also understood that a booking fee of $64.83 will be collected
from all individuals, either personally at the time of booking into the Renton
jail, or paid directly by the contracting cities. The Committee also
recommended preparation of the ordinance and resolution implementing the
contracts and fees. MOVED BY LAW, SECONDED BY NELSON,
COUNCIL CONCUR IN THE COMMITTEE REPORT. CARRIED.
Transportation (Aviation) Transportation (Aviation) Committee Chair Palmer presented a report regarding
Committee the Main Ave. S. speed limit increase. The Committee met on 11/21/2002 to
Transportation: Main Ave S discuss this issue. At this time, the Committee recommended that no changes
Speed Limit Increase from 25 be made to the current speed limit. MOVED BY PALMER, SECONDED BY
to 35 mph CLAWSON, COUNCIL CONCUR IN THE COMMITTEE REPORT.
CARRIED.
RESOLUTIONS AND The following ordinance was presented for second and final reading and
ORDINANCES
Ordinance #5107
Planning: Planned Action
(Lakeshore Landing), Boeing
'Surplus Property
(j
f q
NEW BUSINESS
ESA: WRIA 8 Draft Chinook
Salmon Conservation Plan
ADJOURNMENT
Recorder: Michele Neumann
November 15, 2004
adoption:
An ordinance was read designating a Planned Action for the Lakeshore Landing
development, approximately 55 acres located between Logan Ave. N. to the
west and Garden Ave. N. to the east, N. 8th St. to the south, and east of the
Boeing manufacturing operations on the west. MOVED BY BRIERE,
SECONDED BY CLAWSON, COUNCIL ADOPT THE ORDINANCE AS
READ. ROLL CALL: ALL AYES. CARRIED.
Councilman Clawson announced that there is an open house on November 16th
from 6:30 p.m. to 9:30 p.m. at the Maplewood Golf Course Club House for
comment on the draft Chinook Salmon Conservation Plan.
MOVED BY PERSSON, SECONDED BY LAW, COUNCIL ADJOURN.
CARRIED. Time: 8::5�4/p.m.
4&nM,c.c 'i oa z�
Bonnie I. Walton, CMC, City Clerk
November 8, 2004 _ _ Renton City Council Minutes Page 400
3. LaCrosse Homeowners Association - Improve two common area open
spaces with the addition of benches, tables, and light landscaping ($2,787).
4. Maplewood Gardens Neighborhood Association - Develop small urban
park within the neighborhood on public right-of-way at SE 1 Ith St.
($2,870).
5. Monterey Terrace Neighborhood Association - Restore and upgrade the
current entrance sign and landscaping ($6,269).
Talbot Hill Neighborhood Association - Landscape the area surrounding
the neighborhood entrance sign at S. 17th St. and Talbot Rd. S. ($10,278).
7. Winsper Homeowners Association - Landscape the main entrance located
at S. 32nd and Talbot Rd. S. ($8,181).
8. Honey Creek Ridge Homeowners Association - Plantings in seven traffic
circles and adding two picnic tables within the common area ($1,437).
The Committee also recommended approval to fund the following
administrative newsletter applications:
1. Maplewood Glen Neighborhood Association - Annual printing expenses for
newsletter printed and hand delivered quarterly ($162).
2. Summerwind Homeowners Association - Annual printing and postal
expenses for a quarterly newsletter ($216).*
Councilwoman Nelson reported that this is the first year the City received grant
requests exceeding the $50,000 budget; therefore, each of the associations
received less money than they requested so that all eight projects could be
funded. Additionally, she expressed her appreciation for the positive results of
the Neighborhood Grant Program.
*MOVED BY NELSON, SECONDED BY CORMAN, COUNCIL CONCUR
IN THE COMMITTEE REPORT. CARRIED.
Transportation (Aviation) Transportation (Aviation) Committee Chair Palmer presented a report
Committee recommending concurrence in the staff recommendation to approve Addendum
Airport: Pro -Flight Aviation #1 to the Pro -Flight Aviation, Inc. Airport lease (LAG-99-002) to increase the
Lease, Addendum #1, LAG- leased area, allow for fuel storage and fuel sales to the public, and provide for
99-002 an increase in the ground rental rate using the Consumer Price Index for Urban
Seattle. The ground lease rate increases from $0.3066 per square foot to
$0.3287 per square foot, increasing the annual ground lease revenue from
$9,342.41 to $11,700.08. The Committee further recommended that the Maw
and City Clerk be authorized to sign the lease addendum with Pro -Flight
Aviation, Inc. MOVED BY PALMER, SECONDED BY BRIERE, COUNCIL
CONCUR IN THE COMMITTEE REPORT. CARRIED.
RESOLUTIONS AND The following ordinance was presented for first reading and referred to the
ORDINANCES Council meeting of 11/15/2004 for second and final reading:
Planning: Planned Action An ordinance was read designating a Planned Action for the Lakeshore Landing
(Lakeshore Landing), Boeing development, approximately 55 acres located between Logan Ave. N. to the
Surplus Property west and Garden Ave. N. to the east, N. 8th St. to the south, and east of the
Boeing manufacturing operations on the west. MOVED BY BRIERE,
/1 SECONDED BY NELSON, COUNCIL REFER THE ORDINANCE FOR
SECOND AND FINAL READING ON 11/15/2004. CARRIED.
November 8, 2004 Renton City Council Minutes *AW0 Page 401
ADJOURNMENT MOVED BY NELSON, SECONDED BY CORMAN, COUNCIL ADJOURN.
CARRIED. Time: 10.23 p.m.
Bonnie I. Walton, CMC, City Clerk
Recorder: Michele Neumann
November 8, 2004
November 8, 2004 't✓ Renton City Council Minutes `r' Page 389
the various sections in this area, including the Maplewood Reach 4 (SR-169
area), Cedar River Reach 2 (Logan Ave. to I-405), Cedar River Reach 3 (I-405
to SR-169), mouth of the Cedar River Mouth to Logan Ave. (Reach 1), and
Southern Lake Washington.
PUBLIC HEARINGS
Planning: Planned Action
(Lakeshore Landing), Boeing
Surplus Property
Continuing, Ms. King reviewed land use actions, and pointed out that they
should be voluntary, should build on existing efforts such as the Growth
Management Act and critical areas ordinances, should focus on incentives, and
should encourage growth in urban areas. Listing the land use recommendations
for the lower Cedar River area, she noted that Renton's efforts to encourage
growth and revitalize its urban center helps protect rural salmon habitat.
Recommendations for land use include enforcement, encouraging
redevelopment restoration through regulatory flexibility and incentives, and
using tools such as stormwater management, clustering, and low impact
development for riparian areas and forest cover and open space.
Ms. King listed the land use action recommendations for the southern Lake
Washington shorelines, which include protecting the remaining shoreline
through critical areas ordinances and the Shoreline Master Program, prohibiting
new bulkheads, and following NOAA Fisheries (National Marine Fisheries
Service) salmon -friendly dock guidelines. In conclusion, Ms. Lamensdorf-
Bucher expressed her appreciation with Renton's involvement in the
development of the salmon conservation plan.
Councilman Clawson, who represents the City in this effort, stated that the
speakers have been responsive to Renton's concerns. He stressed that
recovering the Chinook salmon in this urban area is very challenging, and it
will take a group effort. Chief Administrative Officer Jay Covington stated that
a lot of work went into this plan, and noted that the region and the State will
benefit from the work that has been done.
This being the date set and proper notices having been posted and published in
accordance with local and State laws, Mayor Keolker-Wheeler opened the
public hearing to consider the Lakeshore Landing Planned Action for
redevelopment of the surplus Boeing property located at the south end of Lake
Washington; Developer: Center Oak Properties, LLC.
Jason Jordan, Senior Planner, described the subject area, which is located north
of N. 8th St., east of Logan Ave. N., and west of Garden Ave. N. He reviewed
the project history as follows:
—Environmental Impact Statement (EIS) completed in October 2003.
—Comprehensive Plan Amendment completed in December 2003.
—The City and Boeing established a development agreement in December 2003.
—The development agreement included a conceptual urban retail plan.
—The conceptual urban retail plan was approved in October 2004.
Mr. Jordan explained that the conceptual plan is approximately 53 to 55 acres,
including the right-of-way area. Approximately eight acres of the site will be
utilized to create new public streets and access ways, including a parkway
design with landscaped medians for the extension of Logan Ave. N., the
realignment of Park Ave. N., and the extension of N. 8th and N. 10th Street.
The developer is proposing high quality retail, office, and residential
opportunities. Mr. Jordan reported that the development will be predominately
retail, designed to Urban Center North Development Standards, and required to
meet the new Urban Center Design Guidelines.
November 8, 2004 ""W Renton City Council Minutes -,ww Page 390
Continuing, Mr. Jordan said the conceptual plan ranges from 597,000 to
800,000 square feet, and the potential tenants may include a large format
retailer, a movie theater, and a mix of specialty tenants and restaurants. He also
reviewed the potential building's bulk, size, and scale. Mr. Jordan stated that
staff requests approval of Planned Action legislation, which would be
combined with the approved EIS and development agreement. The legislation
will streamline the permitting process by utilitizing existing environmental
documentation as allowed by RCW 43.21C.031 and WAC 197-11-164, 168,
and 315.
Public comment was invited.
Correspondence was read from Richard D. Zwicker, North Renton
Neighborhood Association President, PO Box 326, Renton, 98057, stating that
the association offers support and assistance in the development of the
Lakeshore Landing project. He noted that the project will be located in one of
the oldest neighborhoods in the City, and asked that care be taken in the
development of properties between N. 6th and N. 8th Streets, which will be the
sole buffer between the neighborhood and the shopping center. Additionally,
Mr. Zwicker asked that Logan Ave. N. be opened and connected to Park Ave.
N., and that the City mitigate the negative impact of the impending
construction.
Ray Giometti, 323 Pelly Ave. N., Renton, 98055, stated that redevelopment of
the Boeing property represents an opportunity for the City of Renton to
establish its vision for responsible growth in the future. However, the future
growth should not negatively impact the City or its residents. Mr. Giometti
asked that North Renton neighborhood be taken into consideration during this
process, and recommended that Logan Ave. N. be extended and opened in the
first phase of development. He expressed concern regarding the peak traffic
figures expressed in the EIS, and the haste at which this project is going
forward. Mr. Giometti indicated that failure to address traffic issues now will
result in future development of the site exceeding original traffic estimates and
creating future traffic problems in the City.
Mike O'Donin, 423 Pelly Ave. N., Renton, 98055, expressed his excitement
about the project, saying it is a great opportunity for the City. Mr. O'Donin
suggested that Logan Ave. N. be opened as soon as possible, and he voiced his
concern about the flow of traffic and the safety of children, noting that people
drive through the surrounding side streets in order to avoid the traffic signals.
George Daniels, 215 Garden Ave. N., Renton, 98055, stated that the North
Renton Neighborhood Association is growing, and the neighborhood wants to
be a part of the development process. He expressed his excitement for the
project, and asked that the City stay on task, stay within the laws, consider the
neighborhood's needs, and grow effectively rather than just grow for the sake of
growth.
Larry Reymann, 1313 N. 38th St., Renton, 98055, stated his hope that the
project interfaces with Gene Coulon Park, and emphasizes and extends the
natural habitat as much as possible. He suggested that the development be
pedestrian friendly, and utilize mass transit to enhance the future of this entire
area.
Fred Bruning, Center Oak Properties President, 649 NW 12th St., Gresham,
OR, 97030, stated his intent to create a very pedestrian -friendly and
November 8, 2004 '*4✓ Renton City Council Minutes "v Page 391
community -friendly development, and noted that the project is moving forward
quickly due to competition for key tenants. Mr. Bruning said Center Oak
Properties' goals are to: create a project the City of Renton and the community
will be proud of, make sure that the project connects very well with the greater
community, and vitalize the historic downtown area. He stressed that Center
Oak Properties welcomes comments and takes them to heart.
Alex Pietsch, Economic Development Administrator, stated that in the
development agreement with Boeing, the City agreed to construct new roads,
and new water, stormwater, and sewer utility lines. This includes the extension
of Logan Ave. N. to Park Ave. N., which will occur in conjunction with the
construction of this project.
There being no further public comment, it was MOVED BY CLAWSON,
SECONDED BY CORMAN, COUNCIL CLOSE THE PUBLIC HEARING.
CARRIED.
MOVED BY BRIERE, SECONDED BY PALMER, COUNCIL ADOPT THE
PLANNED ACTION LEGISLATION AS DRAFTED BY THE CITY
ATTORNEY, WHICH ALLOWS THE DEVELOPER TO UTILIZE THE
EXISTING ENVIRONMENTAL DOCUMENTATION AS
REDEVELOPMENT OF THE SITE OCCURS, AND REQUIRES THE
DEVELOPER TO COMPLY WITH THE APPROVED EIS, CONCEPTUAL
URBAN RETAIL PLAN, APPROVED DEVELOPMENT AGREEMENT,
AND URBAN CENTER NORTH DEVELOPMENT STANDARDS AND
DESIGN GUIDELINES. CARRIED.
Budget: 2005 Annual City of This being the date set and proper notices having been posted and published in
Renton accordance with local and State laws, Mayor Keolker-Wheeler opened the
public hearing to consider 2005 City of Renton Preliminary Budget and revenue
sources.
Victoria Runkle, Finance and Information Services Administrator, reported that
the proposed 2005 Budget, in the amount of $149,392,500, is a one percent
increase above the 2004 Budget. The General Governmental Budget, in the
amount of $69,106,300, comprises 46% of the total budget and is a 4.7%
increase above the 2004 Budget. Ms. Runkle pointed out that the general fund
revenues are estimated to be lower than expenditures by $1.1 million, and
available fund balance is anticipated to be used to meet the expenditures.
Continuing, Ms. Runkle stated that the 2005 Budget priorities include
implementation of the REACT and RENSTAT programs, lowering internal
service and management service levels, and changing service levels that can be
provided in a different way. She noted that the enterprise funds (water, sewer,
surface water, solid waste, golf course and airport) comprise 34% of the total
budget. The proposed 2005 Budget includes a 1.6% increase in City water and
sewer service rates, and a pass -through King County waste treatment rate
increase.
Concluding, Ms. Runkle stated that a one percent property tax levy increase is
recommended for 2005, and the 2005 total property tax levy is estimated to be
$21 million. She pointed out that since the total property tax assessed valuation
is decreasing, the City's tax rate will decrease by at least two cents per
thousand.
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Ctv of Renton
PLMM fiAQAWWM HANDOUT
Noeiber 8, 2004
Lakeshore Landing Planned Action
For additional information, please contact: Jason Jordan, Project Manager; City of Renton
Development Services Division;. (425) 430-7219
ISSUE:
The City of Renton's Development Services Division is requesting approval of
Planned Action legislation, which would be combined with the Boeing Renton
Comprehensive Plan Amendment Environmental Impact Statement (EIS)
completed in October of 2003. The approval of Planned Action legislation would
streamline the permitting process by utilizing existing environmental
documentation, as allowed by RCW 43.21C.031 and WAC 197-11-164, 168 and
315.
As a result of approving Planned Action legislation, the applicant would be
required to submit an environmental consistency analysis with each phase of the
project and receive subsequent approvals from the City's Environmental Review
Committee (ERC). The consistency analysis would be required as individual
master plans and/or site plans are proposed. In addition, the adoption of
Planned Action legislation provides added entitlement and scheduling
predictability as the developer (Center Oak Properties, LLC) begins to prepare
for the redevelopment of the 55-acre site.
Center Oak Properties has prepared two conceptual site plans (attached), which
depict two final retail build -outs ranging from 597,000 square feet to 800,000
square feet of gross leasable area. Buildings would generally range from 26 feet
to 58 feet in height, with a few isolated towers of approximately 85 feet in height.
Potential tenants may include a large format retailer, a specialty grocery market,
a movie theater, and a mix of high quality national, regional, and local specialty
tenants and restaurants.
RECOMMENDATION:
The Development Services Division is recommending that the City Council adopt
Planned Action legislation in order to use the existing Boeing Renton
Comprehensive Plan Amendment EIS as the SEPA environmental document for
the redevelopment of the Lakeshore Landing site.
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NORTH RENTON NEIGHBORHOOD ASSOCIATION
POST OFFICE BOX 326
RENTON, WASHINGTON 98057
(206)931-6356
NORTHRENTON MSN.CO-IM
WWW.(;EOCITIES.COM/NORTHRENTON
CITY OF rs%N;- 0t%,,
October 28, 2004t,„
Mayor Kathy Keolker-Wheeler
Renton City Councilmembers
1055 S. Grady Way
Renton, Washington 98055
Re: Center Oak Properties, Lakeshore Landing Project
Dear Madam Mayor and Honorable Councilmembers:
For the record, the North Renton Neighborhood Association offers its support and
assistance in the development of the Lakeshore Landing project. In doing so, we ask that we are
notified and involved in any future City planning, including zoning changes, area maps, mock-
ups and other planning developments that influence this project.
The North Renton Neighborhood Association asks the City and City Council to note that:
1) The Lakeshore Landing project will be located in our North Renton
neighborhood, which is one of the oldest neighborhoods in Renton;
2) This project will directly impact our neighborhood and our quality of life.
It is our hope that we can minimize the negative impact and we are optimistic
these changes will be for the better. We are not obstructionists and we want to
be involved in a positive manner;
3) We are open to change and understand that there will be redevelopment of
the Boeing properties. We are heartened and intrigued by the project proposed
by Center Oak Properties. However, we are willing to fight to protect the unique
nature of our neighborhood.
We trust the City, the City Council, the Mayor and her staff, to work with Center Oak
Properties to create a dynamic redevelopment of the Boeing properties. We also trust the City,
the City Council, the Mayor and her staff, to act in the best interest of all of the city's citizens,
including those of the North Renton Neighborhood.
RICHARD ZWICKER PRESIDENT • SUSANNAH DOUGHERTY VICE-PRESIDF.N'1' • AARON PF_TERSON SECRF,TARY/Tizf,,ASUR1?R
DIRECTORS: PAM CI IICOINE • LEE CHICOINE • LOM GIOME'I"rI • MIKE O'DONIN • MELINDA WI 1313 • PAUL WI:BB
1400, *ftw
NORTH RENTON NEIGHBORHOOD ASSOCIATION
City of Renton
October 28, 2004
Page 2 of 2
The Lakeshore Landing project raises no immediate concerns to the Association.
However, it does clarify our concern regarding future development of the properties between
North Sixth and North Eighth. In time, this area will be the sole buffer between a major
shopping center and our long-standing neighborhood community. Please take this into account
in future deliberations.
At this time, we ask that the City do everything in its power to open Logan Avenue and
connect it to Park Avenue as soon as possible. We believe that opening Logan will significantly
lessen the impact on our neighborhood. Finally, we ask for the City's assistance in mitigating
the negative impact of impending construction as this project is developed.
These are exciting times for the City and our neighborhood. We look forward to being a
part of it.
Sincerely,
Richard D. Zwicker
President
North Renton Neighborhood Association
cc: Fred Bruning, President, Center Oak Properties
RICHARD ZWICKER, PRESIDENT • SUSANNAH DOUGHERTY VICE-PRESIDENT • AARON PETERSON. SLX.RE"I'ARY�TRI?AtiURI;R
DIRECTORS: PAM CHICOINE • LEE CHICOINE • LORI GIOMEYFI • MIKE O'DONIN • MELINDA WEBB • PAUL WEBB
VAOW %W
From: Citizens to Council Via Clerk
To: North Renton
Date: Thu, Nov 4, 2004 9:43 AM
Subject: Re: Lakeshore Landing/Public Hearing on 11/8/04
Dear Mr. Zwicker:
Thank you for your email. Copy is being forwarded to City officials. This will be made a part of the Public
Hearing record on 11/8/04.
Sincerely,
Bonnie Walton
City Clerk
City of Renton
425-430-6502
>>> "North Renton" <north renton @ msn.com > 11/2/2004 5:28:38 PM >>>
Dear Madam Clerk:
Attached is the North Renton Neighborhood Association's official position letter regarding the proposed
Lakeshore Landing project. If possible, we would ask that it be read into the record at the public hearing
on Monday, November 8, 2004.
Please let me know if you have any questions. Thank you for your assistance in this matter.
Richard Zwicker
President
North Renton Neighborhood Association
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File No.: Zoning/Public Hearing
LOCATIONS OF POSTINGS FOR: Request by Center Oak Properties to adopt a
Planned Action for redevelopment of Boeing surplus property, consisting of 46 acres,
located in the area of the Boeing Renton Plant at the south end of Lake Washington.
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CERTIFICATION
STATE OF WASHINGTON)
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COUNTY OF KING )
hereby certify that copies of the
attached notice were posted by me regarding the property described above on the
-Z.cl day of Cx'+0'&r'X- , 200--1_.
SIGNED
SUBSCRIBED AND SWORN TO BEFORE ME this a 9�` day of
20 Q
SIGNED:
Printed Name: -Eon 1 e- -t- - 1Va /*/2
NOTARY PUBLIC in and for the State Of
Washington, Residing At Fenm h
My Commission Expires: '� -9- aW06
Y O
♦+ NOTICE
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RENTON CITY COUNCIL
PUBLIC HEARING
ON NOVEMBER 8, 2004 AT 7:30 P.M.
RENTON CITY HALL COUNCIL CHAMBERS
1055 SOUTH GRADY WAY
TO CONSIDER THE FOLLOWING: Request by Center
Oak Properties to adopt a Planned Action for redevelop-
ment of Boeing surplus property, consisting of 46 acres,
located in the area of the Boeing Renton Plant at the south
end of Lake Washington.
All interested parties are invited to attend and present written and/or oral comments.
Complete legal description & further information available in the City Clerk's Office - 425-430-6510
' The removal, mutilation, destruction, or concealment
Warning of this notice is a misdemeanor punishable by fine
and imprisonment.
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♦ w6N 0 T I C E
RENTON CITY COUNCIL
PUBLIC HEARING
ON NOVEMBER 8, 2004 AT 7:30 P.M.
RENTON CITY HALL COUNCIL CHAMBERS
1055 SOUTH GRADY WAY
TO CONSIDER THE FOLLOWING: Request by Center
Oak Properties to adopt a Planned Action for redevelop-
ment of Boeing surplus property, consisting of 46 acres,
located in the area of the Boeing Renton Plant at the south
end of Lake Washington.
All interested parties are invited to attend and present written and/or oral comments.
Complete legal description & further information available in the City Clerk's Office — 425-430-6510
' The removal, mutilation, destruction, or concealment
Warning of this notice is a misdemeanor punishable by fine
and imprisonment.
CITY OF RENTON
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the Renton City Council has fixed the 8th day of
November, 2004, at 7:30 p.m. as the date and time of a public hearing to be held in the
seventh floor Council Chambers of Renton City Hall, 1055 S. Grady Way, Renton, WA
98055, to consider the following:
Request by Center Oak Properties to adopt a Planned Action for redevelopment of
Boeing surplus property, consisting of 46 acres, located in the area of the Boeing
Renton Plant at the south end of Lake Washington.
All interested parties are invited to attend the hearing and present written or oral
comments regarding the proposal. Renton City Hall is in compliance with the American
Disabilities Act, and interpretive services for the hearing impaired will be provided upon
prior notice. For information, call 425-430-6502.
Bonnie I. Walton
City Clerk
Published King County Journal
October 29, 2004
Account No. 50640
10/25/2004
Notice sent to 5 Parties of Record, per attached labels.
D. Evans
cc: Don Erickson
Jason Jordan
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CHICAGO IL 60606
082305905703
PUGET SOUND ENERGY/ELEC
PROPERTY TAX DEPT
PO BOX 90868
BELLEVUE WA 98009
082305921700
DASH 80 LP
440 N FIRST ST #200
SAN JOSE CA 95112
082305905505
SOUTHPORT LLC
10843 NE 8TH ST STE200
BELLEVUE WA 98004
722300001004
PACCARINC
ATTN: CORP ACCOUNTING
PO BOX 1518
BELLEVUE WA 98009
//� AVERY® Address Labels Laser 5160®
CITY OF RENTON
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the Renton City Council has fixed the 8th day of
November, 2004, at 7:30 p.m. as the date and time of a public hearing to be held in the
seventh floor Council Chambers of Renton City Hall, 1055 S. Grady Way, Renton, WA
98055, to consider the following:
Request by Center Oak Properties to adopt a Planned Action for redevelopment of
Boeing surplus property, consisting of 46 acres, located in the area of the Boeing
Renton Plant at the south end of Lake Washington.
All interested parties are invited to attend the hearing and present written or oral
comments regarding the proposal. Renton City Hall is in compliance with the American
Disabilities Act, and interpretive services for the hearing impaired will be provided upon
prior notice. For information, call 425-430-6502.
Bonnie I. Walton
City Clerk
Published King County Journal
October 29, 2004
Account No. 50640
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ah�v'_j
CITY OF RENTON
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the Renton City Council has fixed the 25141 day of
No vemkcr G&k+ff, 2004, at 7:30 p.m. as the date and time of a public hearing to be held in the
seventh floor Council Chambers of Renton City Hall, 1055 S. Grady Way, Renton, WA
98055, to consider the following:
Request by Center Oak Properties to adopt a Planned Action for redevelopment of
Boeing surplus property, consisting of 46 acres, located in the area of the Boeing
Renton Plant at the south end of Lake Washington.
All interested parties are invited to attend the hearing and present written or oral
comments regarding the proposal. Renton City Hall is in compliance with the American
Disabilities Act, and interpretive services for the hearing impaired will be provided upon
prior notice. For information, call 425-430-6502.
Bonnie I. Walton
City Clerk
Published King County Journal
er ,
Account No. 50640
%WW
E2
CITY OF RENTON
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the Renton City Council has fixed the 25th day of
October, 2004, at 7:30 p.m. as the date and time of a public hearing to be held in the
seventh floor Council Chambers of Renton City Hall, 1055 S. Grady Way, Renton, WA
98055, to consider the following:
Request by Center Oak Properties to adopt a Planned Action for redevelopment of
Boeing surplus property, consisting of 46 acres, located in the area of the Boeing
Renton Plant at the south end of Lake Washington.
All interested parties are invited to attend the hearing and present written or oral
comments regarding the proposal. Renton City Hall is in compliance with the American
Disabilities Act, and interpretive services for the hearing impaired will be provided upon
prior notice. For information, call 425-430-6502.
Bonnie I. Walton
City Clerk
Published King County Journal
October 15, 2004
Account No. 50640
October 18, 2004 `MW Renton City Council Minutes NOW, Page 360
r'
Committee of the Whole
EDNSP: South Lake
Washington Conceptual Plan
�A
• 2003-M-02 (holdover) — City of Renton applicant; King County Public
Health Department property (NE 4th St.) redesignation from Center
Institution to Employment Area -Commercial with concurrent CA zoning.
• 2003-M-03 (holdover) — City of Renton applicant; (continue to 2005
amendment cycle).
2003-M-07 (holdover) — City of Renton applicant; 1) Rezone properties
currently in R-5 zone to R-4. 2) Eliminate the R-5 zone. 3) Provide a
change in the new R-4 zone to allow properties developed with R-5 and R-8
lot size and setbacks to remain conforming. 4) Redesignate certain
properties in Residential Single Family to Residential Low Density, except
land in Honey Creek Annexation.
• 2003-M-11 (holdover) — JDA Group applicant; (continue to 2005
amendment cycle).
• 2003-T-03 (holdover) — The Boeing Company applicant; (withdrawn).
• 2004-M-01 — Troy Jones applicant; (denied).
• 2004-M-02 — Sunset Heights Retirement applicant; (denied).
• 2004-M-03 — AnMarCo applicant; (denied).
• 2004-M-04 — City of Renton applicant; Redesignate Automall District to
new Commercial Corridor, and expand Automall Area B.
• 2004-M-05 — City of Renton applicant; 1) Center Suburban/Center
Neighborhood to Corridor Commercial with CA zoning. 2) Eliminate three
suffixes in the Multi -family zone; Rezone all properties in RM-C, RM-N,
and RM-I into RMF; Allow the former RM-N residential density to
increase from 15 to 20 dwelling units per acre, and increase the height from
30 to 35 feet. 3) Residential Planned Neighborhood and Residential
Options to be combined into Residential Medium Density zoning to remain
as is - R-14 and R-10. 4) Eliminate Center Institution land use designation
and policies; Redesignate properties to Commercial Corridor and
Employment Area -Industrial. 5) Center Commercial to Neighborhood
Commercial.
• 2004-M-06 — Rod Handly applicant; Redesignate four parcels in SW Sunset
Blvd. area as Commercial Neighborhood with concurrent CN zoning.
The Committee further recommended adoption of the related ordinance
approving amendments to Title IV (Development Regulations) of City Code.
MOVED BY BRIERE, SECONDED BY LAW, COUNCIL CONCUR IN THE
COMMITTEE REPORT. CARRIED. (See page 361 for ordinances.)
Council President Persson presented a Committee of the Whole report
regarding the South Lake Washington Conceptual Development Plan. The
Committee recommended concurrence with the staff recommendation to adopt
the conceptual plan proposed by Center Oak Properties for the redevelopment
of 46 acres of surplus Boeing property located in the South Lake Washington
area. The envisioned retail center at a range of densities portrays a vision that
will begin the transition of this historically industrial area to a vibrant urban
village. The resulting development will have positive economic and social
impacts for the City as a whole. As outlined in the 2003 development
agreement with The Boeing Company, all subsequent land use applications
%
October 18, 2004 �"' Renton City Council Minutes *"" Page 361
related to this property will be checked against the Conceptual Plan document
for consistency prior to approval. MOVED BY PERSSON, SECONDED BY
PALMER, COUNCIL CONCUR IN THE COMMITTEE REPORT.
CARRIED.
RESOLUTIONS AND The following resolution was presented for reading and adoption:
ORDINANCES
Resolution #3722 A resolution was read approving the Clover Creek No. 2 Final Plat;
Plat: Clover Creek No. 2, Park approximately 4.39 acres located in the vicinity of Park Ave. N. and N. 27th Ct.
Ave N & N 27th Ct, FP-04- (FP-04-116). MOVED BY BRIERE, SECONDED BY NELSON, COUNCIL
116
ADOPT THE RESOLUTION AS READ. CARRIED.
The following ordinances were presented for first reading and referred to the
Council meeting of 10/25/2004 for second and final reading:
Annexation: Johnson, 142nd
An ordinance was read annexing approximately 18.24 acres located south of the
Ave SE
centerline of SE 118th St., if extended, and east of the western edge of the
142nd Ave. SE right-of-way (Johnson Annexation). MOVED BY BRIERE,
SECONDED BY NELSON, COUNCIL REFER THE ORDINANCE FOR
SECOND AND FINAL READING ON 10/25/2004. CARRIED.
Annexation: Johnson, R-8
An ordinance was read establishing the zoning classification of property
Zoning
located east of 142nd Ave. SE and west of 144th Ave. SE, if extended, and
south of the midpoint of SE 118th St., if extended, to the southern edge of the
Bigelow property, approximately 135 feet south of SE 121st St. from R-4
(Urban Residential - four dwelling units per acre; King County zoning) to R-8
(Residential - eight dwelling units per acre); Johnson Annexation. MOVED
BY BRIERE, SECONDED BY NELSON, COUNCIL REFER THE
ORDINANCE FOR SECOND AND FINAL READING ON 10/25/2004.
CARRIED.
Planning: 2004 Comp Plan An ordinance was read amending the Comprehensive Plan to comply with the
Update mandated 2004 State Growth Management Act review and update, and
adopting Comprehensive Plan text, maps, and data in conjunction therewith.
MOVED BY BRIERE, SECONDED BY LAW, COUNCIL REFER THE
ORDINANCE FOR SECOND AND FINAL READING ON 10/25/2004.
CARRIED.
Planning: 2004 Comp Plan An ordinance was read amending Chapter 4-2, Land Use Districts, Chapter 4-3,
Update Implementation, Environmental Regulations and Special Districts, Chapter 4-4, Property
Development Regulations Development Standards, Chapter 4-6, Street & Utility Standards, Chapter 4-7,
Amendments Subdivision Regulations, Chapter 4-8, Permits - General and Appeals, Chapter
4-9, Permits - Specific, and Chapter 4-11, Definitions; of Title IV
(Development Regulations) of City Code to implement the 2004 State Growth
Management Act update to the Comprehensive Plan. MOVED BY BRIERE,
SECONDED BY LAW, COUNCIL REFER THE ORDINANCE FOR
SECOND AND FINAL READING ON 10/25/2004. CARRIED.
Planning: 2004 Update of An ordinance was read adopting the Citywide zoning map amendments to the
Zoning Map zoning classifications of properties located within the City of Renton, and
identified as part of the 2004 State Growth Management Act mandated update
of the Comprehensive Plan. MOVED BY BRIERE, SECONDED BY LAW,
COUNCIL REFER THE ORDINANCE FOR SECOND AND FINAL
READING ON 10/25/2004. CARRIED.
,,,W
Date 10-1,y- 0 q
COMMITTEE OF THE WHOLE
COMMITTEE REPORT
October 18, 2004
South Lake Washington Conceptual Plan
(Referred October 11, 2004)
The Committee of the Whole recommends concurrence with the staff recommendation to
adopt the Conceptual Plan proposed by Center Oak Properties for the redevelopment of 46-
acres of surplus Boeing property in the South Lake Washington area. The envisioned retail
center at a range of densities portrays a vision that will begin the transition of this historically
industrial area to a vibrant urban village. The resulting development will have positive
economic and social impacts for the City as a whole. As outlined in the 2003 Development
Agreement with The Boeing Company,all subsequent land use applications related to this
property will be checked against the Conceptual Plan document for consistency prior to
approval.
Don Persson, Council President
cc: Alex Pietsch
Gregg Zimmerman
Neil Watts
Jennifer Henning
Jason Jordan
Center Oak Conceptual Plan.doc\ rev 01/02 bh
October 11, 2004 *WW Renton City Council Minutes 'VW
Page 348
City Attorney Larry Warren pointed out that any materials delivered to the City
are public record unless they fall within one of the exceptions to the Public
Records Act.
Continuing, Ms. Petersen requested that Section 1-5-2 of City Code be changed
to clearly place the content and subjects of requests for executive session under
the same level of confidentiality as the executive session itself.
CONSENT AGENDA
Items on the consent agenda are adopted by one motion which follows the
listing. At the request of the Administration, item 8.d. was removed for
separate consideration.
Council Meeting Minutes of
Approval of Council meeting minutes of October 4, 2004. Council concur.
October 4, 2004
EDNSP: Hotel/Motel Tax
Economic Development, Neighborhoods and Strategic Planning Department
Revenue Allocation to
recommended approval of the Renton Lodging Tax Advisory Committee
Marketing Campaign, IKEA
recommendation to allocate up to an additional $12,000 of hotel/motel tax
10th Anniversary Promotion
revenues to the Renton Community Marketing Campaign for street banners and
other activities promoting IKEA's loth Anniversary celebration. Council
concur.
EDNSP: IKEA Commercial Economic Development, Neighborhoods and Strategic Planning Department
District Designation
recommended approval to designate the area bordered by SW 43rd St. on the
south, SW 41st St. on the north, East Valley Hwy, on the east, and Oakesdale
Ave. SW on the west as the IKEA Commercial District. Council concur (See
page 350 for resolution.)
Development Services:
Development Services Division recommended acceptance of the dedication of
Nicholson Short Plat, ROW
816.70 square feet of additional right-of-way to widen NE 28th St. as required
Dedication, NE 28th St
by the Nicholson Short Plat (SHP-02-111). Council concur.
Plat: Brookefield 11, NE I Ith
Development Services Division recommended approval, with conditions, of the
Ct & Hoquiam Ave NE, FP-
Brookefield 11 Final Plat; 16 single-family lots on 4.65 acres located at NE 1 Ith
04-091
Ct. and Hoquiam Ave. NE (FP-04-091). Council concur. (See page 350 for
resolution.)
Police: Jail Bookings and Fees
Police Department recommended approval of the following: accept jail
bookings from other municipalities on a space -available basis; set the jail
booking fee at $64.83 per day per inmate; and prepare and present for adoption
the necessary legislation to implement the contracts as part of the 2005 budget
process. Refer to Public Safety Committee.
MOVED BY PERSSON, SECONDED BY CORMAN, COUNCIL APPROVE
THE CONSENT AGENDA AS AMENDED TO REMOVE ITEM 8. d. FOR
SEPARATE CONSIDERATION. CARRIED.
Separate Consideration Economic Development, Neighborhoods and Strategic Planning Department
Item 8.d. submitted a Conceptual Plan for the 46-acre surplus Boeing property in South
Planning: South Lake Lake Washington proposed by developer Center Oak Properties, and a Planned
Washington Redevelopment Action requested by Center Oak Properties for its project. Refer the
Conceptual Plan and Planned Conceptual Plan to Committee of the Whole; set public hearing on 1 n"�o4
Action 11/8/2004 to consider the Planned Action.
MOVED BY PERSSON, SECONDED BY LAW, COUNCIL APPROVE
CONSENT AGENDA ITEM 8.d. AS AMENDED TO CHANGE THE
PUBLIC HEARING DATE TO 11/8/2004. CARRIED.
Submitting Data:
Dept/Div/Board.
Staff Contact......
Subject:
puua Area
C1'VY OF RENTON COUNCIL AGENDA'TILL r Pfi
r
AI #: I
EDNSP
Alex Pietsch (x6592)
South Lake Washington Redevelopment Approvals
Exhibits: Issue Paper
Proposed Conceptual Plan (to be provided)
Proposed Planned Action (to be provided)
For Agenda of:
October 11, 2004
Agenda Status
Consent ..............
Public Hearing..
Correspondence..
Ordinance .............
Resolution............
Old Business........
New Business.......
Study Sessions......
Information.........
X
Recommended Action: Approvals:
• Refer the Conceptual Plan to Committee of Legal Dept......... X
the Whole Nodern%,- 9, 200 y Finance Dept...... X
• Set a public hearing on 26, 2004 for Other ...............
consideration of the Planned Action
Fiscal Impact:
Expenditure Required... Transfer/Amendment.......
Amount Budgeted....... Revenue Generated.........
Total Project Budget City Share Total Project..
SUMMARY OF ACTIONS:
• Center Oak Properties is proposing a revised Conceptual Plan for an initial phase of
redevelopment of surplus property at the Boeing Renton Plant. The 2003 Development
Agreement with the Boeing Company requires Council adoption of a Conceptual Plan
prior to redevelopment. This Conceptual Plan will serve as the basis for all future land use
approvals related to this development.
• Additionally, Center Oak is asking Council for adoption of a Planned Action (as allowed
in RCW 43.21 C.031 and WAC 197-11-164, 168 and 315). Since a major EIS has already
been completed for this site, additional detailed environmental analysis is not required. A
public hearing is required prior to adoption of a Planned Action.
STAFF RECOMMENDATION:
• Approve the proposed Conceptual Plan.
• Direct the City Attorney's office to prepare necessary legislation for adoption of the Planned
Action.
Rentonnet/agnbill/ bh
en
CITY OF RENTON
ECONOMIC DEVELOPMENT, NEIGHBORHOODS,
AND STRATEGIC PLANNING DEPARTMENT
MEMORANDUM
DATE: October 4, 2004
TO: Don Persson, President
City Council Members
,C.
VIA: Mayor Kathy Keolker-Wheeler �
FROM: Alex Pietsch, Administrator h/--P
Economic Development, Neighborhoods,
and Strategic Planning Department
SUBJECT: SOUTH LAKE WASHINGTON REDEVELOPMENT
APPROVALS
IM-11Ta
The City Council is asked to approve a new Conceptual Plan for the 46-acre surplus Boeing
property in South Lake Washington and, subsequently, review and approve a Planned Action
for the proposed lifestyle retail center proposed by the developer, Center Oak Properties.
RECOMMENDATION:
• Approve the proposed Conceptual Plan and Planned Action.
Schedule a public hearing for review of the Planned Action to be held October 25,
2004.
BACKGROUND SUMMARY:
In December 2003, the City Council adopted a development agreement with The Boeing
Company which requires approval of a conceptual plan prior to sale of any surplus property
that may be made available at its manufacturing facility in the South Lake Washington area.
The conceptual plan will be used as the basis for all future land use approvals for each
property.
As a part of the adopted development agreement, the Council approved a conceptual plan for
redevelopment of 46-acres of property described as Subdistrict IA. However, Boeing has
recently selected a developer for this property, Center Oak Properties of Gresham, OR. The
October 4, 2004
Page 2
proposed Center Oak development project differs from the originally adopted conceptual plan
and Council review and approval is required.
Additionally, Center Oak is requesting adoption of a Planned Action for its project. Under
SEPA, local jurisdictions are allowed to adopt a planned action if an Environmental Impact
Statement (EIS) has or will be completed. As a result, designating a planned action shifts
environmental review of a project from the time a permit application is made to an earlier
phase in the planning process. In designating a planned action, projects are not required to
undergo additional SEPA/public notice requirements at the master and site plan review
stage(s), nor are there opportunities for project specific SEPA appeals. Since an EIS was
completed for the entire Boeing Renton Plant, sufficient environmental review has already
occurred, and a Planned Action can be adopted subsequent to the adoption of the Conceptual
Plan.
CONCLUSION:
Center Oak's proposed Conceptual Plan is a significant improvement over that which was
originally adopted in the 2003 Development Agreement. Approving this Conceptual Plan will
provide the City with certainty related to key factors related to the proposed development
(e.g. square footage, road network, mix of uses, etc). Further, approval of a Planned Action
at this stage will eliminate unnecessary process and time as significant environmental review
has already been conducted on this site.
cc: Jay Covington
Gregg Zimmerman
Neil Watts
Jason Jordan
w
gecd 6y elIx eoueol
CITY OF RENTON ¢ Cd d -D ad �, JC
ECONOMIC DEVELOPMENT, NEIGHBORHOODS, ,Der ` ala
AND STRATEGIC PLANNING DEPARTMENT /
MEMORANDUM
DATE: October 14, 2004 CITE' OF RENTON
TO: Don Persson, President OCT 2004
City Council Members DECEIVED
CITY CLE'R <.'S OFFiCE:
FROM: Alex Pietsch, Administrator
Economic Development, Neigh orhoods,
and Strategic Planning Department
CC: Mayor Kathy Keolker-Wheeler
Jay Covington, CAO
SUBJECT: LAKESHORE LANDING CONCEPTUAL PLAN
Please find the attached letter and associated materials that will serve as Center Oak
Properties' revised Conceptual Plan submittal for your consideration. As the letter explains,
Center Oak is proposing that Council re -adopt the Conceptual Plan already established in the
December 2003 Development Agreement with The Boeing Company. However, Center Oak
asks that that plan serve as the minimum amount of allowable development and that a higher
density project (800,000 SF) developed under the same provisions be approved as the
maximum scale development without further review. Additionally, Center Oak pledges to
design its project consistent with the revised Urban Center Design Guidelines that are
currently before you and anticipated to be adopted shortly.
By adopting this augmented plan, the City Council will provide Center Oak with a set of
parameters within which it can develop its project while maintaining a high minimum level of
development and ensuring high quality design.
Attachment
cc: Bonnie Walton, City Clerk
Gregg Zimmerman
Neil Watts
Jennifer Henning
Jason Jordan
10/13/2004 15: 40 5036661404 --
CENTER UAK PRU'ER115 PAGE 02/02
Oct 13 04 03-34p SO 122-7675 iCt.L^
10/13/2004 15:18 5036661404 CENTER OAK PROPERTIS PAGE 02102
. Y
C,1r\!�1TEI,
` ...-
AKOrooetUcs. LLC
October 13, 2004
Alex Pictsch. Administrator
Department of Economic Development,
Neighbothoods & Strategic Planning
City of Renton
1055 South Grady Way
Renton, Washington 99055
RE: LAXESHORE LANDING CONCU'><UAL FLAN
Dear Alex'
As you know, Center Oak Properties has been selected by The Boeing Company as the buyer/developer
for its 46-acre surplus property in the Soullt Lake Washington area, On behalf of Center Oak Properties. T
am requesting re -adoption and amendment of the Conceptual Plan adopted by the Renton City Council in
its development ap,recment with The Boeing Company dated December 1, 2003.
The development agreement requires that significant changes to the Conceptual Plan be reviewed.and
adopted by the Renton City Council. We believe our project, which has been given the working name of
Lakeshore Landing, will be consistent with the thresholds cpccttted in the current plan. However, the
potential exists and it is our goal to develop a project with higher density —as much as 800.000 square
feet of retail and entertainment space, This larger project would be developed consistent with the adopted
plan in every way cxerpr the overall square footage, We have provided a detailed economic benefit
analysis to demonstrate the avenue implications of this level of development. We ask that the Council
consider the adopted conceptual plan as the "minimum" and the more dense project as the "maximum"
that would be nl)owed without further review.
Additionally, high -quality design will be an impottrnt plat of our project. We will design the
development (regardless of scale) consistent with the revised Urban Center Design Guidelines currently
being considered and expected to be adopted by the City Council before the end of the year.
Center Oak is excited to be working with the City of Renton on this tremendous development
oppominity. We took forward to establishing a strong relationship with you and the city staff. Together.
we are confident chat we will transform the South Lake Washington area in to a vibrant urban district
anchored by an exceptional )ifeatyle retail development.
Sincerely,
Paul Wardy
649 NW 12th Street • Gresham, OR 97030
503.666.1233 Fax 503.666.1404
www comicroak,corr
Lakeshore Landing
Plan F - 800,000 sf
As of October 12, 2004
CITY OF RENTON ECONOMIC BENEFITS
Retail Redevelopment on Part of Boeing's Renton Plant Site
Economic benefits to the City of Renton of redeveloping 46 acres of the Boeing Renton
Washington plant site follow. Derivation of these benefit estimates is based upon a set
of realistic assumptions that correspond to development of 800,000 square feet of retail
space consisting of 123,000 square feet of retail big box anchor, 82,500 square feet of
movie theater, 32,000 square feet of specialty grocery store, and 562,500 square feet of
retail specialty shop space.
• At full absorption of the above 800,000 square feet of retail space on a redeveloped
portion of the Boeing Renton plant, it is estimated that 5,135 permanent jobs would
be created throughout the region.
• Of this total, a projected 2,646 direct jobs would be created at the targeted 46-acre
Boeing Renton site plus 622 additional indirect jobs within the City of Renton,
assuming a 25% capture rate.
• It is estimated that these 3,268 direct and indirect jobs would generate an additional
$106.1 million in recurring annual income earned in the City once full occupancy of
this new retail space occurs at the Boeing Renton plant site.
• The corresponding increase in property values by redeveloping this 46-acre portion
of the Renton Boeing site into retail uses is forecast to total nearly $101 million upon
completion and stabilization in 2009.
• The increase in direct annually recurring tax revenues to the City of Renton at full
build out is estimated at over $3.1 million by 2009.
• This is in addition to over $0.9 million in one-time City revenues collected during land
redevelopment and construction of 800,000 square feet of retail space on a part of
the Boeing Renton plant site during the 2004-2008 period.
Lakeshore Landing 800K.doc
,"Nor
Lakeshore Landing Plan F increased to 800,000 sf
Renton, Washington
As of October 12, 2004
Washington State
Recurring Revenues
2009
Tax Base
2004
Tax Rate
2009
Revenues
Property Tax
100,612,299
0.2757%
277,388
Sales Tax
273,824,125
6.467%
17,708,206
Business & Occupations Tax
273,824,125
0.4710%
1,289,712
Real Estate Transfer
-
1.2800%
-
TOTAL
648,260,549
19,275,306
Regional Transit Authority
Recuninci Revenues
2009
Tax Base
2004
Tax Rate
2009
Revenues
Sales Tax
273,824,125
1 0.4000%
1,095,296
King County - General Fund
Recurring Revenues
2009
Tax Base
2004
Tax Rate
2009
Revenues
Property Tax
100,612,299
0.14315%
144,027
Sales Tax
273,824,125
0.1500%
410,736
Business & Occupations Tax
-
0.0000%
-
Real Estate Transfer
-
0.0000%
TOTAL
374,436,424
554,763
King County - Other Funds
Recurring Revenues
2009
Tax Base
2004
Tax Rate
1
2009
Revenues
Sales Tax
273,824,125
0.9330%
2,554,779
Baseball, Football, Metro, Criminal Justice, Transit & Traffic Congestion
City of Renton
Recurring Revenues
2009
Tax Base
2004
Tax Rate
2009
Revenues
Property Tax
100,612,299
0.32434%
326,326
Sales Tax
273.824,125
0.8500%
2,327,505
Business & Occupations Tax
-
0.0000%
-
Real Estate Transfer
-
0.5000%
-
Employee Head Tax
2,646
55.00
145,521
Admissions Tax
6,789,760
5.00%
339,488
TOTAL
381,228,830
1
3,138,840
Washington State
2005-06
2004
2005-06
One Time Revenues
Tax Base
Tax Rate
Leakage
Revenues
Sales Tax
98,981,820
6.467%
10%
5,761,039
Business & Occupations Tax
103,881,820
0.471%
10%
440,355
Real Estate Transfer
38,465,430
1.280%
492,358
TOTAL
241,329,070
6,693,751
King County - Other Funds
Recurring Revenue
2005-06
I Tax Base
1 2004
I Tax Rate
Leakage
2005-06
Revenues
Sales Tax
L 98,981,820
1 0.4000%
10%
356,335
King County - General Fund
2005-06
2004
2005-06
One Time Revenues
Tax Base
Tax Rate
Leakage
Revenues
Sales Tax
98,981,820
0.15%
10%
133,625
Business & Occupations Tax
-
0.0000%
10%
-
Real Estate Transfer
-
0.000%
TOTAL
98,981,820
133,625
King County - Other Funds
Recurring Revenues
2005-06
Tax Base
2004
Tax Rate
1
Leakage
2005-06
Revenues
Sales Tax
98,981,820
0.9330%
1 10%1
831,150
Baseball, Football, Metro, Criminal Justice, Transit & Traffic Congestion
City of Renton
2005-06
2004
2005-06
One Time Revenues
Tax Base
Tax Rate
Leakage
Revenues
Sales Tax
98,981,820
0.850%
10%
757,211
Business & Occupations Tax
-
0,0000%
10%
-
Real Estate Transfer
38,465,430
0.50%
192,327
TOTAL
137,447,250
949,538
Per City
Revenues
Difference
237,587
39,801
9,356,669
8,351,537
677,999
611,713
84,475
84,475
10,356,730
8,918,576
Per City
Revenues I Difference
1,095,296
Per City
Revenues
Difference
95,695
48,332
-
410,736
95,695
459,068
Per City
Revenues Difference
2,554,779
Per City
Revenues
Difference
221,087
105,239
1,223,564
1,103,941
32,998
(32,998)
76,912
68,609
339,488
1,554,561
1,584,279
Per City
Revenues
Difference
4,355,954
1,405,085
350,710
89,645
1,626,442
1,134,084
6,333,106
360,645
Per City
Revenues Difference
356,335
Per City
Revenues
Difference
100,522
33,103
100,522
33,103
Per City
Revenues Difference
831,150
Per City
Revenues
Difference
569,625
187,586
635,328
443,001
1,204,953
255,415
Lakeshore Landing Plan F Alt Rev 2 Sum.xls 800K Printed 10/12/2004 3:49 PM Center Oak Properties, LLC
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EXHIBIT VI5 "
BOEING'S
CONCEPTUAL URBAN RETAIL PLAN
Renton, Washington
Submitted to the City of Renton
November 17, 2003
n
M
CONCEPTUAL URBAN RETAIL PLAN
Lot 3 and 10-50 Sites
Renton, Washington
Background
The Boeing Company has been working with the City of Renton for more than a year
in evaluating potential redevelopment strategies associated with its 737 facility in
Renton, Washington. This Conceptual Plan Illustrates the. Boeing Company's.vision
for the redevelopment of the first piece of the Renton Plant to be made available for
non -Industrial uses. The Plan Includes that portion of the property commonly
referred to as the Lot 3 and 10-50 sites, which have been determined to be non-
essential to the ongoing airplane manufacturing activities as Boeing completes it's
"Move -to -the -Lake" consolidation plan.
The Plan covers approximately 53 to 55 acres of gross land, of which approximately
8 acres are reserved for the development of four new arterial streets that are
essential to the ultimate redevelopment of the entire 280=acre campus. The
remaining 45 to 47 acres of land will be marketed to entities interested in developing
an integrated retail center on the site, consistent with this Conceptual Plan.
Included within this submittal are a narrative description of Boeing's proposal, a
Conceptual Planning Diagram with supporting pedestrian street sections, and an
economic benefit analysis demonstrating a range of potential one-time and recurring
revenues generated by the proposed development. Boeing seeks the City's approval
of this Conceptual Plan so that Boeing can complete the necessary lot line
adjustments and begin actively marketing the property to local, regional and national
developers and users.
The aerial on the following page highlights the location of the proposed retail site in
relation to Boeing's remaining land holdings and the surrounding North Renton
neighborhood.
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Conceptual Urban Retail Plan
Boeing believes that high -quality retail development is essential to the successful
transition of the area from its industrial roots to the City's vision for the Urban
Center -North. A well -designed retail center will provide employment, diversify the
economic base, offer a new source of municipal revenue, and will attract other
alternative and potentially higher and better uses to the surrounding area.
The Conceptual Plan for the Lot 3 and 10-50 sites, located on the following page,
illustrates the cohesive redevelopment of the parcels into an urban retail center. The
Plan contains a mix of large format "destination" retailers, mid -sized retail anchors,
as well as small shop space concentrated along Park Avenue, envisioned as the
significant pedestrian -oriented street in the area. The Plan responds to the presence
of the existing Fry's building on the property to the east of Garden Avenue, and
anticipates that ultimate redevelopment of the northern portion of that site will relate
directly to the development occurring on Boeing's property.
The site is bound'by a combination of existing and new public roadways, which
segregate the property into four quadrants ranging between 6 and 19 awes in size.
Boeing is seeking buyers for the 45- to 47-acre property to undertake a cohesive
redevelopment. Generally, the large format retail development (users with -
footprints of 50,000 square feet and larger and building feature heights up to 45 feet
tall) is planned to occur along 8t', Logan and Garden Avenues, facing inward and
supported by welt -organized parking areas internal to the site. These destination
retail uses will naturally locate themselves along the widest portions of the property,
with good freeway visibility, much like the recently completed Fry's development on
the eastern side of Garden Avenue.
Medium format retailers (ranging between 10,000 and 50,000 square feet in area,
with building feature heights up to 40 feet tall) are assumed Infill between the large
format tenants, with primary pedestrian entrances facing inward or directed toward
Park Avenue. Again, parking is assumed to be concentrated within each segment of
the site, to allow for potential "second -generation" redevelopment at higher
densities, if achievable.
The northwest quadrant of the property Is identified as one potential location for a
mid- to high-rise development, which could take the form of a multi -level podium
parking structure, with multifamily residential or office uses above. This ultimate
development could initiate the truly urban vision for the area and, together with
pedestrian scale treatments at the comer of Park and Logan, would identify this as
the "gateway" to the Urban -Center North.
Small, specialty retail shops and amenities would be concentrated primarily along
Park Avenue. The scale of development is more intimate here, with an eclectic mix
of uses, architectural styles and gathering places. In some instances, single story
retail uses may be topped with one to three levels of apartments or professional
office uses, all overlooking Park Avenue and the activity along the street edge.
Together, the large- and medium -format users total approximately 450,000 square
feet of space; the smaller shop space totals approximately 110,000 square feet, or
20% of the center.
opomd
wokil foe
CONCEPTUAL
URBAN
RETAIL
PLAN
Potomia ga6way
V" of pow"m
**" pmm" *uduro
and nww" us"
down doped ,, -
1
r
hiodvft
10*444oe oair1 lopo"aal
for offto ar p"k%wQ
9
72
a
Fume
N Ift'Street
CONCEPWAL PLANING DIAGRAM
FULLER" SEARS ""AMA
ARCHITECTS
Hierarchy of Streets
Key to the successful development of the property is the reconfiguration and
Improvement of Park Avenue to serve as a critical pedestrian -oriented street in the
project. To accommodate full redevelopment of the Renton Plant properties, the
ultimate build out of Park Avenue will need to allow for four travel lanes and a center
turn lane, designed for vehicular travel up to 35 miles per hour. To support the
vision for the development of an urban retail center in this location, a generous
sidewalk with street trees and on -street parking for Park Avenue is being proposed
to enhance the environment in the public realm and encourage people to make Park
Avenue a pedestrian street. An illustrative street section for Park Avenue can be
found on the following page.
The other major north -south connection is Logan Avenue, which extends from 6"'
Avenue to the south and joins Park Avenue in the north. The construction of Logan,
providing direct access to I-405, will be an important alternative through connection
to ensure Park Avenue functions as a pedestrian -oriented shopping street. At the
outset of redevelopment in the area, Logan is envisioned as a three -lane street, with
one travel lane in each direction and a center-tum lane. Ultimately, Logan will
expand and function even more so as a higher -speed alterial.
The east -west arterial roadways, 10a' and 8"' Avenues, are less critical to the
successful development of the urban retail center, other than serving as access
points to the center off of Park Avenue. Connections from 10"' and 8n' to Logan
Avenue, if constructed, would be favorable, -but the center would function as well
with access only off of Park, the existing leg of 8a' and Garden Avenues.
Urban Center —North Vision and Policies
This proposed Conceptual Urban Retail Plan meets many of the City's vision and
policy statements for the Urban Center -North, which call for "retail integrated into
pedestrian -oriented shopping districts" and recognizes that:
"At the beginning of this transition, uses such as retail —may be viable without the
office and residential components that ultimately will contribute to the urban
character of the district." The City's vision plans for the transition of the area over a
30-year horizon and anticipates that redevelopment will need to address -the
potential for future infiil to allow areas to further grow to urban densities. This site is
located within District 1, where the City identifies its first objective as follows:
"Create a major commercial/retail district developed with uses that add significantly
to Renton's retail tax base, provide additional employment opportunities within the
City, attract businesses that serve a broad market area and act as a gathering place
within the community."
Boeing's Conceptual Urban Retail Plan seeks to both allow for the near -term
redevelopment of Boeing's underutilized assets while advocating for a mix of uses
that improves the City's tax and employment base. As is illustrated within the
attached economic benefit analysis, more than 1,300 jobs would be created in the
City of Renton by a redevelopment of this scale. The City would collect more than
$1.2 million in one-time revenues during development and the City would receive
over $1.5 million in annually recurring tax revenues at full build out.
V1,
Summary
Boeing believes that its Conceptual urban Retail Plan Illustrates the optimal
development plan for this 45 to 47 acres of land in North Renton. The Plan offers the
opportunity to contribute to the transition of the area from a primarily Industrial
neighborhood to a higher Intensity and range of viable uses, providing both jobs and
a significant source of new revenue to support the City's objectives for the area.
1%W
SUMMARY
CITY OF RENTON ECONOMIC BENEFITS
Retail Redevelopment on Part of Boeing s Renton Plant Site
Economic benefits to the City of Renton of re -developing 46 acres of the Boeing
Renton, Washington plant site follow. Derivation of these benefit estimates is based
on a set of realistic assumptions that correspond to development of 451,000 square
feet of retail big/medium box space and 110,000 square feet of retail shop space.
➢ At full absorption of the above 561,000 square feet of retail space on a
-redeveloped portion of the Boeing Renton plant site; it is: estimated that 2,197
permanent jobs would be created throughout the region.
➢ Of this total, a projected 1,132 direct jobs would be created at the targeted 46-
acre Boeing Renton site plus 266 additional indirect jobs within the City of
Renton, assuming a 25 percent capture rate.
➢ It is estimated that these 1,398 direct and indirect jobs in the City of Renton
would generate an additional $45.4 million in recurring annual income earned
inside the City once full occupancy of this new retail space occurs at the
Boeing Renton plant site.
➢ The corresponding increase in property values by redeveloping this 46-acre
portion of the Renton Boeing site into retail uses is forecast to total nearly $66
million upon completion in 2009.
➢ The increase in annually recurring tax revenues to the City of Renton at full
build -out is estimated at over $1.5 million starting in 2009.
This is in addition to over $1.2 million in one-time City revenues collected
.during. land redevelopment and the construction of 561,000 square feet of retail
space on a part of the Boeing Renton plant site during the 2004-2008 period.
11/13103 REAL ESTATE ECONOMICS
The data and calculations presented herein while not guaranteed, are obtained from sources deemed reliable.
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F
PERMANENT JOBS CREATED IN 2009
1600 CITY OF RENTON
1,398
1200
a►
0
3 800
m
Z
400
0 0
With Project Without Project
$50.0
$40.0
0
G $30.0
w
0
$20.0
0
;10.0
$0.0
$1,500
$1,600
!a $1,400
G $1,200
O $1,000
$800
p $600
3
t $400
~ $200
$0
NEW JOB ANNUAL INCOMECREATED IN 2009
With Project Without Project
NEW CITY OF RENTON TAX REVENUES
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
i land Dev. ■ Building Dev. ■ Permanent Taxes
CURRENT ZONING SCENARIO REAL ESTATE ECONOWCS
charts
With Protect
wwxm profed
Jobs
Z197
Yloome - "goons
$ eo
property Market Valves • mmiom
S 97.74
S 31.75
Sekded Slate Revemes-mWons
10.47
a114
Fl~ Urban VNY9*4'fIHA 1 U13 W pops 1
11e Gbh nW OkW@Wm W"K*Ad hmm»uw rOomm nt hm bW ouairdkm KWM WrAW b be CM"WALWATEECONOWS
Charts
NEW STATE TAX REVENUES
:n4o
t+e.00
aao
0
ao.
a.«
2m aw aeec 2m 2w sou W " "0 ant ant aou
■Land DW. Taxes ■BWWing D". Taxes ElPennano t Taxes
NEW RECURRING STATE REVENUES
WWMM Project $0.114
WRh Project i10.471
t- $2 $4 K u :1a $12
DoUars In millions
R~Uftnr%P+-fiN.Knnua► pop 3
Do"W nlnrfos aMwMd Iris wdle ml arrw4lw bwnd+a:.dhoww.os bd4+M b Oe aY6Y. REtL EsiA re EOOWOW3
Assumptions
DEVELOPMENT ASSUMPTIONS"
VALUE
SOURCE
Redevelopment Land
Total buildable redevelopment land area—'rwr awes
45.68
Heartland
Total buildable redevelopment land area—*mC sq. fL
1,989.821
Heartland
Land Development
Land Development Construction Costs
i 14,314,177
Heartland
Land improvement construction duration - years
1.0
REE/ Heartland
Percent design & management
10.0%
REE
Percent construction labor
36.0%
REE
Percent materiels
54.0%
REE
Btdk*V Development Parameters
Chan" in assessed value
i 65,996,257
From AV estimates
Percent design and management —commercial
10.0%
REE
Percent construction labor - conxnerdal
36.0%.
REE
Percent construction materials & services - commercial
54.0%
REE
BiUtng mulfiplier for design and management
2.5
REE
Billing multiplier for construction
2.0
REE
Property development duration - Years
4.0
Heartland
Retail—B"od Box
Gross square feet of retail space
451.000
Heartland
Load factor --retail space
5%
Heartland
Building construction cost /sq.ft.—retail space
i 120
Heartland
Sq ft per employee — big box retail
600
REE
Retail sales per sq. IL —big box retail
276
REE
RotaN—Shop Space
Gross square feet of retail space
110.000
Heartland
Load factor —retail space
5%
Headland
Building construction cost 1sq.1L—retail space
S 130
Heartland
Sq ft Per employee —Slwp Spates
250
REE
Retail safes per &q.fL
250
UU & REE
ECONOMIC ASSUMPTIONS
Inds W Jogs Multiplier for recurring jobs
1.941
REE
indirect jobs multiplier for land development construction jobs
2.486
_
REE
kx*W jobs multiplier for regular constuction jobs
2.667
REE
Share of indirect jobs captured by Renton
25%
REE
Share of'xidirerx iw"ne captured by Renton
25%
REE
KxVCo. est. average FTE wage for direct reaxting retail jobs on -site
$30,000
ESD & REE
King Co. average annual wage for all irud'ir act jobs
$43,000
ESA & REE
King Co. average wwwal wage for project designknanagement
$65,000
REE
Average annual wage for one-time construction jobs
$49,000
REE
Gross
111000
WDR & ESD
TAX BASE AND REVENUE ASSUMPTIONS
Improved land as %of total assessed value of redeveloped Property
30.0%
REE
Real estate turnover rate
10.0%
REE
Total assessed value of 'existing' reuse property land
i 16.548,400
Heartland
Total assessed value of'e reuse pmpecW Irnprovements
15,1982W
Heartland
'MOW resorts are not guaranteed, but are hoed on whet are deemed'reaconabW assumptlons.
Renton Urban Wage-P—FINA,11H3W Page t
Ttw data end c8iouIBW4 Presented herWR white mat guaanlmd, have been obtakwd from s%xt" bellewd a be refi", REAL ESTATE ECONOMICS
*46W
Summary
One-time Land
One-time Building
Recurring
Development
Development 2005-2009
in 2009
JOBS
Direct Jobs
61
73
1,132
Indirect Jobs
91
122
1,065
Total Jobs
153
196
2,197
INCOME
Direct Income
$
3,149,119
$
15,052,400
$
33,962,500
Indirect Income
3,922.789
21 034 316
45,807,488
$
7,071,908
$
36,086,716
$
79,769.988
Total Income
PROPERTY VALUE INCREASES
Not applicable
Not applicable
$
65,996,257
TAX BASE INCREASES
Assessed Valuation
Not applicable
Not applicable
$
65,996,257
Retail Sales
$
12,882,759
$
61,578,000
$
143,948,750
Real Estate Sales
Not applicable
$
97,742,85T
$
6,599,626
Gross Business Receipts
$
14,314,177
$
68.420.000
$
143.948,750
SELECTED TAX REVENUE INCREASES
(Property, sales, BOO and real estate)
State Taxes
$
1,189,652
$
5.143,454
$
10,356,729
Local Taxes
City of Renton —property 100% in city
$
245,167
$
959,786
$
1,554,562
WkV County —property 0% in county
$
17,392
$
83,130
$
95,695
Renton lkben Yilage-P-AN.A.11M3M3 Page 1
The dam and wkalab" pesetmd bwem whk not gwranteed. row been obWkwd 4om sources be6&ved to be reh". REAL ESTATE EOWOIMICS
m
m
Business Receipts
Land Use
Net
Retail Sates Annual
Annual
Sqft
per sgft Retall Sales Employment Gross
receipts
Retail—BigJMed Box
428,450
$ 275 $ 117,823,750 714 $
117,823,750
Retail --Shop Space
104,500
$ 250 $ 26,125,000 418 $
26,125,000
TOTAL.
532,950
$143,948,750 1,132
$143.948,750
Renton Urban Yilage-P- Mid,11113103 Page 1
The data and cWcda bons presented herein wlwle rat guwwAoed, have been obW*wd *= sow= befievsd io be reliable. REAL ESTATE ECONOMICS
`"W
Taxbases
One -tune through One-time Buik*V
Land Development 2005 thru 2008 at 2009
Assessed Valuation
$ 65,996,257
Real Estate Sales
$29.32ZW
$ 97,742,857
$ 6,599,626
Retail Sales
$ 12,882,759
$ 61,578,000
$ 143,948,750
Gross Business Receipts
$ 14.314,177
$ 68,420,000
$ 143,948,750
Renton Urban Vi lage-P—FIN.A. 11/13103 Page 1
The dam end.1wWons prvae A d h—W W" n t yu-1-d. h-- b— obtsl d from soaves 11a bW reliable. REAL ESTATE ECONOMICS
M
Assessed Valuation
Mo. Start Year 2005
ASSESSED VALUATION
Gross
Const. Construction
% Land
Total Hew
By Land Use
Sq Ft
Cost /Sq Ft Value/Sq Ft
of Total
Land
AV
RWA-BiDIMed Box
451,000
$ 120.00 $5020,000
30%
$23,194,286
$77.314,286
Reim -Shop Space
110,000
$ 130.00 $14,300,000
30%
$6,128,571
$20,428,571
SUBTOTAL
$ 68,420,000
$29;322.857
397,742,857
Lass existing land valuation
($16.60,400)
Less existing improvement vakmflon
($15,198,200)
TOTAL MtCREASES
661,000
$ 65,9%,257
Renton tJd=V-ftge-P—FWjd.11113103 Pape 1
The data wo cWvA@ m KewAed herein wtie not yur&WA@d, hew been obbkW from Comm beiwad b be tefiaCb_ REAL ESTATE ECONOMICS
1*60,
Commercial
Bidg. Start Year 2005
New SgFt Per
Net
Gross
Land Use
Jobs/Em to ens EmployeeEMployee
sqft
Sqff
Retai- kVlAed Box
714 600
428,450
451,000
Retail —Shop Space
418 250
104,500
110,000
TOTALS
1.132
532.950
561.000
Renton Urban Wage-P—Mid.11/13N3 Page 1
The data and cal uWbons presented hwein whk not guww*eed, hew been obWmd from sources be6wmd to be reliable. REAL ESTATE ECONOMICS
M
u
Onetime Jobs
Item
From Development
Of Land
From Development
Of BuMdIngs
PROFESSIONAL JOBS
Design and management costs
$
1,431,418
$
60842,000
Average salary
$
65,000
$
65,000
Billing multiplier
2.5
2.5
Professional job years
9
42
Total professional wages
$
572,567
$
2,736,800
Annual professional wages
$
572,567
$
684,200
Project duration in years
1
4
Professional jobs created
9
11
CONSTRUCTION JOBS
Construction labor costs only
$
5,153,104
$
24,631,200
Average salary
$49,000
$49,000
Billing multiplier
2.0
2.0
Construction job years
53
251
Total construction wages
$
2,676,552
$
12.315,600
Annual construction wages
$
2,676,552
$
3,078,900
Project duration in years
1
4
Construction jobs created
53
63
Total Equivalent New Jobs
61
73
Annual Wage Income for New Jobs
3,149,119
3.763,100
Total Wage Income for New Jobs
$
3,149,119 1
$
16,0520400
Renton Urban Wage-P—FIN.A, 1Ili 3M3 Page 1
The data and CalwWom vewUd twxefn w hk not w--4 ed, hove Deer obUwwd t om sorrCee berw to be m6eblc REAL ESTATE EWHOOM
Recurring Revenue
WA sate
Recurring revenues
2009
Tax Base
2002 Maxknwn
Tax Rate
2009
Revenues
Property Tax
$65,996.257
$3.6000
$237.587
Sales Tax
$143,948,750
6.50%
$9.356,669
B 3 O Tax'
$143,948,750
0.471%
$677,999
Real Estate Transfer
1 $6.599,626
1.28% 1
$84 475
Tarr
$10,356,729
King County
R revenues
2009
Tax Base
2002
Tax Rat*
2009
Revenues
Property Tax
$65,9%,257
$1.4500
$95.695
Sales Tax
$0
I bm
$0
B & O Tax
$0
0.00%
s0
Real Estate Transfer
$0
0.50%
s0
TOTAL
I I
I
j95 m
City of Rerttort
Recurrbm revenues
2009
Tax Base
2002
Tax Rate
2009
Revenues
Property Tax
$65,996.257
$3.3500
$221,087
Sales Tax
$143;948,750
OAS%
$1,223,564
B & O Tax
$143,948,750
0.00%
$0
Real Estate Transfer
$6,599.626
0.50%
$32,998
Head Tax/Yr
1 1,3981
555.00
$76 912
TOTAL
I
I51,554
562
"Wa State S&O Tax rate for r-, a
Renton Urban Voage-P—FINA 11113103 Page 1
The data and calarlatlonc presented herein while not quaroMeed, heve been obtained from sources beiwed to be reiabie. REAL ESTATE ECONOMICS
Onetime Revenue
WA State
One time revenues
Land Dev.
Period Tax Base
Su**v Dev.
Tax Base
2002 Tax
Rate
Lealcage
Land Dev.
Revwxm
BuNding Dev,
Rwonues
Sal" Tax
S 12A82,759
$ 61,375AW
6.50%
10.00%
$763,641
S 3.602,313
B & O Tax`
S 14,314.177
$ 68.420.000
0.471 %
10.00%
S60,678
$ 290,032
Real Estate Transfer
S 29,322A57
$ 97,742,867
1.28%
0.00%
75
$ 1 1 109
TOTAL
$1,180,652
$ 5.143,454
King County
Land Dw.
BuNding Dev.
2002 Tax
Land Dev.
BuYdkv Day.
One t" revenues
Period Tax Base
Tax Base
Rate
Lealcap
Rwtnum
Reveaws
Sales Tax
$ 12.882,759
$ 61,578,000
0.15%
10.00%
$17,392
$ 83,130
B 6 O Tax
$ 14,314,177
$ 68,420.000
0.00%
10.00%
$0
$ -
Real Estate Transfer
$ 29 322 857
$ 97,742,857
0.00%
0.00%
$0
S
TOTAL
$17.392
S 83,130
City of Renton
Land Dw.
Bu"ing Dw.
002 2Tax
Land Dev.
BuI&V Dev.One
time revenues
Period Tax Base
TaX Base
Rate
Lea
Rwenues
Revtrx "
Sal" Tax
$ 12,882,759
$ 61,578,000
0.85%
10.00%
$96,563
S 471,072
B & O Tax
$ 14.314.177
$ 66.420,000
0.00%
10.00%
SO
$
Real Estate Transfer
29 322457
$ 97,742AW
0.50%
0.00%
3146 614
488,714
TOTAL
$245,167
S 95%786
Wa Stab B80 Tax "" for retI&V
Renton Urban VfBage-P—FINA,11113003 Page 1
The data and aladabom presorted herein Whk not gLwwreed, nave bran otxaAed from sou cec beiwed to be reliable. REAL ESTATE ECONOMICS