Land Use & Zoning
In Michigan, a 'development agreement' between a developer and municipality is used to:
AReplace all zoning requirements for the project
BVest development rights and establish the terms and conditions for a large or complex project over an extended period✓ Correct
CGuarantee the municipality will approve all requested permits
DSet the price the municipality will pay to acquire the property
Explanation
Development agreements in Michigan lock in zoning standards for a large project over its multi-phase development period, providing the developer with certainty that rules won't change and the municipality with commitments regarding phasing, public improvements, and performance standards.
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