Sra Development Agreement Format

When it comes to entering into a development agreement, it`s important to have a well-crafted and comprehensive document in place. One popular type of development agreement is the SRA, or Specific Plan Development Agreement. In this article, we`ll dive into the SRA development agreement format and what you need to know.

What is an SRA Development Agreement?

First, let`s define what an SRA Development Agreement is. It`s a contract between a developer and a city or county government that allows for the development of a specific piece of land, usually within a larger development plan. The agreement outlines the terms of the development, including zoning, land use, infrastructure requirements, and environmental concerns. It`s a vital piece of the approval process for large-scale developments.

Key Elements of an SRA Development Agreement

Next, let`s look at the key elements of an SRA development agreement and their format. Typically, the agreement consists of several sections:

1. Preamble: This section identifies the parties involved in the agreement, the development project, and the purpose of the agreement.

2. Recitals: This section sets out the background of the project, including the existing regulatory framework, the developer`s purpose for the development, and the various approvals required for the project to move forward.

3. Definitions: This section outlines key terms used in the agreement and their specific meanings within the document.

4. Project Description: This section provides a detailed description of the project, including the size and scope of the development, the land use plan, and any proposed infrastructure improvements.

5. Permitted Uses: This section outlines the proposed land uses for the development, including residential, commercial, industrial, or mixed-use.

6. Development Standards: This section sets out the specific zoning and design requirements for the project, including building height, setbacks, landscaping, and architectural design.

7. Infrastructure Improvements: This section outlines the required infrastructure improvements, including roadways, utilities, and stormwater management.

8. Environmental Mitigation: This section outlines any necessary environmental mitigation measures and how they will be implemented.

9. Phasing and Timing: This section sets out the proposed phasing of the development, including timelines for construction and occupancy, and any specific milestones that must be met.

10. Fees and Payments: This section sets out the fees and payments required by the developer, including development impact fees, permit fees, and other applicable charges.

11. Termination and Default: This section outlines the circumstances under which the agreement may be terminated by either party, and the consequences of a default by either party.

12. Governing Law: This section identifies the governing law for the agreement, and specifies any dispute resolution procedures.

Conclusion

An SRA development agreement is a critical document for any large-scale development project. It sets out the terms and requirements for the project, and ensures that the developer and government are aligned on key issues. By following the SRA development agreement format, you can ensure that your agreement is comprehensive and legally sound.