In general, a development agreement is a contract between a local jurisdiction and a person who owns or controls property within the jurisdiction. The City’s Development Code states that the purpose of a development agreement is to set forth the development standards and other provisions that shall apply to and govern and vest the development, use, and mitigation of the development of the real property for the duration specified in the agreement. A development agreement shall be consistent with all applicable development regulations. A development agreement may obligate a party to fund or provide services, infrastructure, or other facilities.
These agreements are voluntary, but once made, they are binding on the parties and their successors. A public hearing shall be held prior to approving a development agreement and may only impose impact fees, dedications, mitigation measures, and standards as authorized by other laws.
Below are copies of recorded development agreements within the City of Princeton. If you have any questions or would like additional information on any of the agreements please contact Shawn Fort, Director of Development Services [email protected]