What Is A Development Agreement?
A development agreement is a legal document between a municipality and developer which sets out the responsibilities of each party in regard to a particular development within Stanley. Development agreements are normally associated with subdivisions, but can also be part of a zoning amendment, Conditional Use or Variance and may be registered in the Land Titles Office.
Why Are Development Agreements Required?
Development agreements are required to clearly identify the responsibilities of the municipality and the developer to ensure that the proposed development is safe, efficient, compatible with surrounding land uses, a benefit to the community and generally consistent with the intent of the MSTW Development Plan. Development agreements are registered as caveats against the affected property and bind the owner of the land and future purchasers to the agreement conditions.
Development agreements may be required for:
Development agreements may address the following: (not limited to)
What are development charges?
Development charges are fees that are collected by the municipality to offset the costs of infrastructure needed to serve an expansion, new development, redevelopment or an intensification of use of a property. The fees are used to fund the construction of off-site public services (infrastructure) made necessary by development.
The Planning Act makes provision for a municipality to collect development fees through the re-zoning, subdivision, variance or conditional use processes. Council has also, by by-law, set the levies to be paid by applicants to compensate the municipality for the capital costs that may be incurred by the subdivision of land.