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Draft Quendall Terminals Development Agreement Page 1
When Recorded, Return to:
CITY CLERK’S OFFICE
City of Renton
1055 S. Grady Way
Renton, WA 98055
DEVELOPMENT AGREEMENT FOR QUENDALL TERMINALS
Grantors: The City of Renton and Quendall Terminals
Grantees: The City of Renton and Quendall Terminals
Abbreviated Legal Description: TO BE INSERTED
Additional Legal Description on Page 15 of Document (Exhibit A)
Assessor’s Property Tax Parcel/Account Number: 2924059002 OR □ NOT YET ASSIGNED
THIS DEVELOPMENT AGREEMENT (“Agreement”) by and between the CITY OF
RENTON, a municipal corporation organized and existing under the laws of the State of
Washington (“City”), and QUENDALL TERMINALS, a Washington joint venture, its
successors and assigns (“Developer”), is made and entered into this ____ day of
________ , 2016 (the “Effective Date”) pursuant to the authority of RCW 36.70B.170 et
seq. The City and Developer are the Parties to this Agreement.
RECITALS
A. Developer is the developer of that certain real property comprising 20.3
acres more or less located between Lake Washington and Lake Washington Boulevard,
and that certain real property comprising 1.2 acres more or less across the railroad right
of way to the east, both within the municipal bo undaries of the City of Renton in King
County, Washington, and legally described on Exhibit A attached hereto and depicted on
Exhibit A-1 (the “Quendall Property” or “Property”)).
B. Developer intends to develop the Quendall Property as a mixed-use
multi-family residential development (the “Project”), as more particularly described in
land use applications, LUA09-151, on file with the City of Renton and, subject to this
Agreement, including the Enhanced Alternative described herein. Project development
may be phased, subject to the conditions of the Hearing Examiner’s Decision.