Development Agreement

Development Agreement in affordable housing parlance is a voluntary agreement between a local jurisdiction and a developer that typically includes a concession from the city in exchange for the developer’s giving something of value to the city. These are often used when the developer agrees to provide BMR units in exchange for waiver of some fees, additional density over what is allowed by zoning, or other such concessions. Development Agreements were specified by the Palmer court as an exception for cities requiring the building of BMR units.

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