A. The execution of a development agreement is a proper exercise of City police power and contract authority. The City may consider, and enter into, a development agreement with a person having ownership or control of real property within the City limits. The City may consider a development agreement for real property outside of the City limits but within the urban growth area (“UGA,” as defined in RCW 36.70A.030(15)), or as designated by the county pursuant to RCW 36.70A.110 as part of a proposed annexation or a service agreement.

B. A development agreement shall be consistent with applicable development regulations adopted by the City under Chapter 36.70A RCW. [Ord. 726 § 2 (Exh. B), 2019.]