The Use of Development Agreements to Manage Large-Scale Development: The Law and Practice in North Carolina
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Two dimensions of large, complex development projects--the commitments to substantial infrastructure investment and the lengthy build-out periods--raise several questions of great importance for both developers and local governments. In 2006 a new tool, the development agreement, became available in North Carolina to help address these questions. This report summarizes the legal requirements for development agreements and examines their early use in the state, all in a compact publication on this difficult topic.