H44 - Local Government Regulatory Reform 2015, Sec. 19: Development Agreements (SL 2015-246)

Overview: Local governments are authorized to enter into development agreements with developers if the property is at least 25 acres or more of developable property and the agreement is for a term of 20 years or less. An exception to the minimum size is granted for brownfields properties. A development agreement must be approved by the governing body of a local government by ordinance. This section removes the current size requirements and maximum term, and instead requires that the agreement be for a reasonable term specified in the agreement. This section allows the development agreement to be incorporated into any planning, zoning, or subdivision ordinance adopted by the local government.

This section became effective October 1, 2015, and applies to development agreements entered into on or after that date.