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SUNCADIA RESORT LLC <br />DEVELOPMENT AGREEMENT EXTENSION <br />PROJECT NARRATIVE <br />Proiect Overview <br />RD ECEHE <br />SEP 2 9 2025 0 <br />Kittitas County CDS <br />Suncadia Resort LLC ("Suncadia") respectfully submits this request to Kittitas County for an amendment <br />to the existing Amended and Restated Development Agreement by and between Kittitas County and <br />Suncadia LLC, dated December 2, 2008, adopted under Resolution No. 2009-37 and subsequently <br />amended by Resolution Nos. 2009-78, 2012-032, 2012-101, and 2021-100 (collectively, the <br />"Development Agreement"). <br />The Suncadia Master Planned Resort was envisioned and approved as a long-term, phased development <br />that includes up to 4,650 accommodation units, a resort core, recreation facilities, commercial uses, and <br />substantial open space and conservation areas. <br />Request Summary <br />The current term of the Development Agreement is 30 years, expiring on October 9, 2030. The Suncadia <br />is seeking an extension of the term by an additional fifteen (15) years, through October 9, 2045, and to <br />amend the Development Agreement accordingly. <br />The scope of this request is limited to the extension of the term of the existing Development Agreement. <br />Please see proposed Second Amendment of Amended and Restated Development Agreement by and <br />between Kittitas County and Suncadia Resort LLC and proposed Resolution Adopting and Authorizing the <br />Chair's Signature, both of which are attached hereto as Exhibits D and E, respectively. <br />Justification for Extension <br />Of the 4,650 allowed units, Suncadia currently has approximately 1,700 units comprising a mix of single- <br />family homes, condominium/multi-family units and hotel accommodations that have either been <br />completed or are currently under construction. <br />Given past and current market conditions and development timelines, additional time is necessary to <br />support the continued and successful buildout of the project. This requested extension will help ensure <br />that Suncadia can deliver on the long-term vision previously approved by the County while continuing to <br />provide ongoing and substantial fiscal benefits to the County, together with all other public benefits that <br />are and will be derived therefrom. <br />SEPA Applicability <br />This application seeks only to extend the term of the existing Development Agreement with no changes <br />to permitted uses or development standards. As such, Suncadia understands that no new SEPA <br />Checklist is required. The Final Environmental Impact Statement, as amended ("FEIS") issued by the <br />County and subsequent environmental documentation remain in effect. <br />Page 1 of 2 <br />