The impact of subdivision amendments greatly affects municipalities; from right-of-ways to easements. To enhance the quality of life for residents, an understanding of the whys and hows for subdivision amendments can guide government officials towards making wise decisions.
Performance guarantees are used to ensure or guarantee that construction, maintenance, or improvements are fulfilled as promised or expected.
A development agreement is a contract between a local county or municipality and a private party (land owners or developer) that helps both parties work together throughout the development process for a specific development project. Land owners and developers like development agreements because they provide regulatory and political assurances during the development process that make projects more viable. These assurances pertain to development phasing, rules and regulations pertaining to the development of a specific property, critical infrastructure responsibilities and coordination, and more. Local counties and municipalities like development agreements because they are a way to incentivize development, promote economic growth, and ensure that proposed development is in compliance with adopted rules and regulations and the overall vision of the community.
A Public Infrastructure District (PID) is a local government entity created to organize financing for public improvements in a specific community. A PID is governed by community members and has the power to levy additional property taxes, impose fees, and issue bonds.