Land Use & ZoningIntermediateNorth Carolina Exam
In NC, a 'development agreement' between a developer and a local government provides:
AAutomatic approval for any project
BVested rights, regulatory certainty, and defined infrastructure obligations in exchange for developer commitmentsCorrect
CA government guarantee of project financing, though specific requirements can vary depending on the transaction details
DExemption from all environmental reviews
Why Vested rights, regulatory certainty, and defined infrastructure obligations in exchange for developer commitments Is Correct
Answer B: Vested rights, regulatory certainty, and defined infrastructure obligations in exchange for developer commitments
Development agreements in NC are legally binding contracts between a developer and local government that provide regulatory certainty and vested rights while specifying public benefits and infrastructure commitments.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
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