Land Use & Zoning
What is a 'development agreement' in Delaware land use?
AA standard construction contract
BA binding agreement between a developer and a local government specifying the permitted uses, densities, infrastructure requirements, and vested rights for a large project✓ Correct
CAn agreement between co-developers to share construction costs
DA financing agreement for infrastructure improvements
Explanation
A development agreement is a contract between a local government and a developer that vests development rights for a large project, specifying permitted uses, densities, infrastructure obligations, and timelines in exchange for commitments by the developer.
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