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Development agreements are contracts approved by the Planning Commission and Board of Supervisors entered into by the City and a developer to expressly define a development project's rules, regulations, commitments, and policies for a specific period of time.
Economic development agreements provide assistance from government entities to private companies in exchange for jobs or economic development. The assistance may be in the form of cash, loans, tax exemptions or other benefits, and maybe conditioned on the company achieving hiring targets or other milestones.
A joint development agreement is a legal contract that sets the terms between two or more parties working together to develop a new product or technology. This type of agreement addresses the joint nature of the parties' collaboration on the research and development of potentially patentable intellectual property.
A development contract is a binding agreement that involves the developer company and the client company. It binds them to adhere to the contract requirement. Ina nutshell, the developer and the client each has a role to play for a successful business contract as stated in the signed agreement.