Land Use & Zoning
What is a 'development agreement' in Illinois municipal land use?
AA contract between the developer and their contractor
BA legally binding agreement between a municipality and developer specifying project details, public improvements, vesting of development rights, and conditions✓ Correct
CA standard application form required to begin the zoning approval process
DAn agreement between adjacent municipalities to coordinate land use decisions
Explanation
A development agreement is a negotiated, binding contract between a municipality and a developer specifying the terms and conditions for a specific development project—including required public improvements, fees, design standards, and vesting of the right to develop under current rules for a specified period. Development agreements provide certainty for both the developer (protection from rule changes) and the municipality (guaranteed public benefits).
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