The report first briefly explains the real estate development business from the developer’s perspective. It then identifies the components of a typical development agreement. Following this, it describes how agreements change and grow over time and offers an outline of the negotiation process. The appendices provide an overview of five development agreements and highlights interesting provisions that may be food for thought during negotiations on future development agreements. Two of these agreements are for gaming-related projects and three do not include gaming as a potential land use. Copies of the actual agreements can be accessed via links found within the appendices.
This document is merely a primer, it cannot take the place of the advice of qualified legal counsel and technical experts and is not intended to do so. Municipal officials considering entering a development agreement for a particular project are strongly encouraged to surround themselves with a team of qualified professionals that can guide them through the process and make sure any agreement entered into is in the best interest of the community at large.
Edward J. Collins, Jr. Center for Public Management, University of Massachusetts Boston, "Understanding & Crafting Development Agreements in Massachusetts" (2013). Edward J. Collins Center for Public Management Publications. 17.