Contracts
A Mississippi developer and city enter into a 'development agreement.' Development agreements provide:
AAutomatic approval of all future permit applications
BVesting of development rights for the developer in exchange for commitments (infrastructure, affordable housing, fees) to the municipality — providing certainty for both parties✓ Correct
CTax-exempt status for the development
DPermanent zoning protection that cannot be changed
Explanation
Development agreements are contracts between developers and local governments that vest approved development rights for a specified period (providing developer certainty) in exchange for developer commitments (infrastructure, public amenities, affordable units, impact fee alternatives). They benefit both sides: developers get regulatory certainty; municipalities get developer-funded improvements.
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