What is a Development Agreement?
A development agreement is a unique tool for large projects that will be built over a period of up to 20 years. A development agreement provides the developer a level of certainty about what it can build and what mitigation measures will be required. Development agreements also allow the Town to look at the long-term horizon and make sure proposed developments fit with the Town’s comprehensive planning efforts and local policies.
Why Use a Development Agreement?
Development agreements provide developers assurance that their project can be built over a long time period without concerns about future changes in regulations or policies. For the town, development agreements allow for greater flexibility in determining conditions and requirements for the project.
Learn About Existing Development Agreements
A public information session was held at Town Hall to learn about Development Agreements. The recorded session and materials provided are linked below
- Development Agreements: Frequently Asked Questions (MS Word)
- Special Topic Presentation: Development Agreements (June 19, 2013)
- Email email@example.com
- Call the Planning Department at 919-969-5040.