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"EXHIBIT
A' III 11111111 :~~7;...
J."....on County. 1M POPE RUOURCEI RUO III."
PORT LUDLOW DEVELOPMENT AGREEMENT
1. PARTIES, PLANNING CONCEPT and RECITALS
1.1 PARTIES
This DEVELOPMENT AGREEMENT ("Agreement") is entered into this I d- day of
. , 2000, by and between POPE RESOURCES, a Delaware Limited
Partners 'p, its subsidiary companies OLYMPIC PROPERTY GROUP LLC (a
Washington limited liability company), OLYMPIC RESORTS LLC (a Washington
limited liability company), OL YMPIC WATER AND SEWER, INe. (a Washington
corporation), OLYMPIC REAL ESTATE DEVELOPMENT LLe. (A Washington
limited liability company) (collectively referred to as, "P'ope" hereinafter) and
JEFFERSON COUNTY, a municipal corporation under the laws of the State of
Washington. This Agreement relates to real property consisting of some 1200 acres
owned by Pope and located in Jefferson County, Washington within the area known as
the Port Ludlow Master Planned Resort or "Port Ludlow MPR." The term "Pope
Property"as used elsewhere in this Development Agreement shall include and shall refer
solely to the property owned by Pope within the Port Ludlow MPR, as described in
Exhibit 1 (the "Pope Property").
1,2 PLANNING CONCEPT AND VALUE
A plan for future buildout of the Pope Property within the Port Ludlow MPR
promotes growth management and planning objectives of the County, including
reasonably priced housing; innovative and sensitive land development with clustering and
critical area tr~cts; environmental protection; creative mix of resort, commercial and
residential uses~and sustainable economic vitality.
1.3 RECITALS
\
1,3.1 The Washington State legislature finds that the lack of certainty in
the approval of development projects can result in a waste of public and private
resources, escalate housing costs for consumers and discourage the commitment to
comprehensive planning which would make maximum efficient use of resources at the
least economic cost to the public, RCW 36,70B,170.
1.3 .2 Jefferson County is a municipal corporation under the laws of the
State of Washington with authority to enact laws and enter into agreements to promote
the health, safety and welfare of its citizens, including the approval of land use plans and
development.
devagmtfinal
February II. 2000
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