A. A development agreement is an optional means, within the legislative discretion of the city council, to facilitate development of a limited geographical area.

B. The city and the property owner(s) must be a party to the development agreement. The county, special service districts, school districts, utilities, contract purchasers, lenders, and third-party beneficiaries may be considered for inclusion in the development agreement.

C. A development agreement shall establish the standards that are applicable to the development and other conditions that control the development, use, and mitigation of the property subject to the development agreement.

D. A development agreement can be entered into before, concurrent with, or following approval of the project permits for development of the property.

E. Development agreement application and applicable development agreement and mitigation fees shall be as set forth by resolution of the city council.