Land Use & Zoning
A 'development agreement' between a municipality and a developer typically:
AAutomatically rezones the property
BVests development rights and establishes the rules that will govern a specific project over time in exchange for developer commitments✓ Correct
CReplaces all subdivision regulations
DExempts the developer from all fees
Explanation
A development agreement is a contract between a local government and a developer that vests the project's development rights under existing regulations for a specified period, providing certainty in exchange for the developer's public-benefit commitments.
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