The changes include a 10-year extension of the original six-year agreement, an additional 88,600 sf of development on the property and the removal of a traffic signaling requirement. As part of the deal, Safeco is deeding the city a 4.6-acre parcel on Leary Way. After a one-year extension last fall, the agreement was scheduled to expire in May 2005.

The campus currently holds seven buildings totaling about 1.4 million sf that were built between 1976 and 2001. Altered last week was the Phase III development agreement, which called for an additional 356,890 sf in two office buildings, a cafeteria and a data center. The Phase III agreement was originally signed in 1998 and was scheduled to expire next month. Last August, after ownership of the campus was transferred to General America Corp., the city council approved a one-year extension of the development agreement.

The development agreement governs the zoning, location and number of buildings, a trip cap, concurrency, impact fees, tree retention, and compliance with SEPA review. As amended, it extends the expiration date out 10 years to May 27, 2015 and expands the total build out to 445,490 sf. The city says it expanded the build out in part because Safeco had demonstrated that the additional square footage would not result in it breaking the original PM peak vehicle trip cap of 1,476.