Development Agreement

A development agreement is a formal contract between a property owner and a developer that outlines the terms for building or improving a property. It covers details such as what will be built, when, and under what conditions, including responsibilities, permits, and standards to ensure the project meets local requirements. This agreement helps coordinate planning and construction activities, manages expectations, and provides legal clarity, protecting the interests of all parties involved. It ensures the development proceeds smoothly and aligns with community and governmental regulations.