HomeMy WebLinkAbout5799RESOLUTION NO. 5799
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
AUBURN, WASHINGTON, AUTHORIZING THE MAYOR TO
EXECUTE A DEVELOPMENT AGREEMENT BETWEEN
THE CITY OF AUBURN AND PORTOFINO INVESTMENT
GROUP I LLC, TO GOVERN THE FUTURE DEVELOPMENT
OF KING COUNTY PARCEL NUMBERS 1085623960,
1085623970, 1 1085623980, AND 1085623990.
WHEREAS, RCW 36.70B.170 — 36.7013.210 allow cities to enter into development
agreements in order to provide greater flexibility in city development standards in
exchange for greater certainty in the development, options for impact mitigation, and
development that generates greater public benefit than might be provided under existing
code; and
WHEREAS, in 2022, Portofino Investment Group I LLC acquired Parcel Nos.
108562390, 1085623970, 1085623980, and 1085623990, located northwest of the
intersection of SE 304th St. and 124th Ave. SE ("the Property"), for the purpose of
constructing new buildings, parking, and other site improvements; and
WHEREAS, Portofino Investment Group I LLC and the City now desire that
development of the Property occur according to the terms and conditions described in the
development agreement attached to this resolution as "Attachment A"; and
WHEREAS, pursuant to RCW 36.70B.200, on January 21, 2025 the City Council
held a duly -noted public hearing on the proposed agreement; and
WHEREAS, it is in the public interest of the City to enter into a development
agreement with Portofino Investment Group I LLC regarding the Property.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN,
WASHINGTON, RESOLVES as follows:
Resolution No. 5799
January 21, 2025
Page 1 of 2
Rev. 2020
Section 1. The Mayor is authorized to execute a Development Agreement
between the City and Portofino Investment Group I LLC, which agreement will be in
substantial conformity with the agreement attached as "Attachment A".
Section 2. The Mayor is authorized to implement those administrative
procedures necessary to carry out the directives of this Resolution.
Section 3. This Resolution will take effect and be in full force on passage and
signatures.
Dated and Signed this 21 st day of January, 2025.
ATTEST:
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VW Shawn Campbell, MMC, City Clerk
Resolution No. 5799
January 21, 2025
Page 2 of 2
CITY OF AUBURN
Jason Whalen, City Attorney
Rev. 2020