Development Agreement Law. To strengthen the public planning process, encourage private participation in comprehensive planning, and reduce the economic risk of development, the Legislature of the State of California adopted the Development Agreement Statute (as defined below). The Development Agreement Statute authorizes the City to enter into binding development agreements with persons having a legal or equitable interest in real property, to provide for the development of such property and to vest certain development rights therein. This Agreement is intended to be, and shall be construed as, a development agreement within the meaning of the Development Agreement Statute.
Appears in 3 contracts
Sources: Development Agreement, Development Agreement, Development Agreement