Embedded Files
The goal of every municipal or regulative body is to provide a satisfactory environment for its constituents, in the form of quality of life, proper infrastructure, schools, and the list goes on. Public resources like a great school district or an important natural resource are legally protected. Fortunately for developers, the regulatory process of development can be useful in creating or adding value to real estate. Value does not always come in the form of a new building, but also via rezoning, through entitlements, or even through the transfer of development rights.
Several cities are in favor of municipal utility districts to help foster development in their extra-territorial jurisdiction. With this leapfrog style development that outpaces the infrastructure provision of a city, the developer is tasked with providing infrastructure with the incentive of pro-rata reimbursements, a reduction of fees, the approval to develop, etc. The most exciting aspect of dealing with regulative bodies is that ALL things are negotiable.
A summary of facts from a facilities agreement from a residential subdivision developer in McKinney, Texas can be found to the right.
facilities agreement.pdfFacilities Agreement Assignment - Site Analysis
Google Sites
Report abuse