Land Use & Zoning
A Colorado developer's 'development agreement' with a municipality is:
AA informal letter of understanding only
BA legally binding contract specifying development standards, fees, infrastructure requirements, and vested rights✓ Correct
COnly applicable to PUD developments
DNot permitted under Colorado law
Explanation
A development agreement (DA) is a legally binding contract between a developer and a local government specifying the terms and conditions for a development project, including infrastructure requirements, development phasing, fee schedules, and vesting of development rights.
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