A Massachusetts Development Agreement is a legally binding contract entered into by the Massachusetts Department of Housing and Community Development (DCD) or Massachusetts Housing Finance Agency (MFA), and a developer or a municipality, with the goal of promoting economic development, job creation, and affordable housing initiatives within the state. This agreement serves as a comprehensive roadmap, outlining the terms, conditions, and obligations between the parties involved, ensuring that all parties are on the same page when it comes to the development project. A Massachusetts Development Agreement typically covers various aspects such as project financing, property acquisition and management, construction, affordable housing requirements, workforce development, and the overall timeline for completion. Keywords: Massachusetts Development Agreement, DCD, MFA, economic development, job creation, affordable housing, agreement, legally binding contract, municipality, developer, project financing, property acquisition and management, construction, affordable housing requirements, workforce development, timeline for completion. Different types of Massachusetts Development Agreements: 1. Affordable Housing Development Agreements: These agreements focus on the development and creation of affordable housing units within the state. They typically include provisions for funding, tax incentives, and regulations to ensure the availability of affordable housing options for low-income individuals and families. 2. Mixed-Use Development Agreements: These agreements involve the development of multi-purpose properties that include a combination of residential, commercial, and/or retail spaces. They aim to revitalize urban areas, promote economic growth, and create a vibrant community by blending diverse uses within a single development project. 3. Infrastructure Development Agreements: These agreements are centered around large-scale infrastructure projects such as transportation systems, public utilities, or public facilities. The purpose is to improve existing infrastructure or develop new infrastructure to support economic development, enhance connectivity, and ensure the efficient functioning of the region. 4. Public-Private Partnership Agreements: These agreements involve collaboration between the government and private entities to undertake development projects. The joint effort aims to leverage the resources, expertise, and funding of both parties to accomplish shared objectives, such as urban revitalization, job creation, and sustainable growth. 5. Brownfield Development Agreements: These agreements focus on the redevelopment of contaminated or underutilized properties (brownfield) to promote economic development and revitalize blighted areas. They often involve environmental remediation, financial incentives, and regulatory support to support the safe and sustainable redevelopment of brownfield sites. Keywords: Affordable Housing Development Agreements, Mixed-Use Development Agreements, Infrastructure Development Agreements, Public-Private Partnership Agreements, Brownfield Development Agreements, affordable housing units, multi-purpose properties, urban revitalization, infrastructure projects, public utilities, public facilities, transportation systems, joint effort, collaboration, government, private entities, contaminated properties, environmental remediation, financial incentives, regulatory support.
Massachusetts Development Agreement
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Developer Contract means any contract entered into by a developer and any third party where the scope of the Developer Contract is to perform work related to a development in the City, and where the developer has entered into a City Contract or has received a Subsidy. Developer Contract Definition | Law Insider lawinsider.com ? dictionary ? developer-con... lawinsider.com ? dictionary ? developer-con...
Development agreements are contracts negotiated between project proponents and public agencies that govern the land uses that may be allowed in a particular project. Development Agreement Manual - Institute for Local Self Governance calafco.org ? files ? resources ? CALAFCO_U ? D... calafco.org ? files ? resources ? CALAFCO_U ? D...
Development Period means, with regard to any Commercial Discovery, the period beginning upon approval of the Development Plan for such Commercial Discovery and ending upon the termination of this Contract for any reason or by any contractual or administrative rescission. Development Period Definition: 902 Samples | Law Insider lawinsider.com ? dictionary ? development-... lawinsider.com ? dictionary ? development-...
Contract development is then about taking the details outlined in the pre-contract meetings and drafting an agreement. Contract Development & Contract Award Phase | ContractPodAi contractpodai.com ? news ? contract-development... contractpodai.com ? news ? contract-development...
A joint development agreement (JDA) sets the terms for two or more parties working together to develop a particular product or technology. The JDA is typically negotiated before or during the working relationship. Intellectual property is often a key issue in a JDA, so the agreement should clearly state who owns what.
A development agreement is a voluntary contract between a local jurisdiction and a person who owns or controls property within the jurisdiction, detailing the obligations of both parties and specifying the standards and conditions that will govern development of the property.
Development agreements provide public agencies greater flexibility in imposing requirements on proposed development, such as development conditions, exactions and fees, because constraints and uncertainties that affect a local agency's ability to unilaterally impose such requirements do not apply to mutually agreed ...
A predevelopment agreement for a commercial real estate development project favoring the property owner. In this form of predevelopment agreement, the developer is responsible for predevelopment services for an office, retail, multifamily, mixed-use, or other commercial development project.