7.11.16 Developer Agreements
Where a development includes
a qualifying road improvement,
the Town and
the developer,
by mutual consent, may enter into an agreement regarding the terms of the
participation of the developer in
the construction or
financing of such road. Such agreement may provide for cash
reimbursements, offsets, or other appropriate compensation to the developer for
his or her participation in the financing and/or construction of
the road. The agreement shall be on a form approved by the Town Council,
after review and recommendation by the Town Manager
or designee, and shall identify:
(A) The estimated cost of the road improvement in
excess of a collector road, based on the approved bidding process and
using the lowest bid approved by the Director of Engineering;
(B) An offset amount
and cash reimbursement amount;
(C) A requirement that the improvement be
designed and completed to Town standards;
(D) Such other terms and conditions as
deemed necessary by the Town Council.
Cary, NC Land Development Ordinance On-line VIC Version - This site last
updated 3/4/2008
Note: This is not the official version of the Cary Land Development
Ordinance
