Land Use & Zoning

What is a 'development agreement' in Nevada land use law?

AAn agreement between two developers to share construction costs
BA contract between a property owner/developer and a local government that vests development rights for a specific project in exchange for the developer's commitments (infrastructure, fees, affordable housing)✓ Correct
CA state permit required for all new subdivisions over 10 acres
DAn agreement between Nevada counties to share tax revenue from large developments

Explanation

Nevada law (NRS 278.0201) authorizes development agreements between property owners and local governments. These contractual agreements lock in zoning and development standards for a project for a specified period (typically 5-15 years) while requiring the developer to provide specified infrastructure, fees, or public benefits. Large master-planned communities in Clark County, like Summerlin and Henderson's new development areas, often utilize development agreements.

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