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Development Fee Agreement
"I need a Development Fee Agreement for a mixed-use development project in Ontario, Canada, between ABC Developments Inc. and the City of Toronto, with construction planned to start in March 2025 and including provisions for phased payment of development charges over a 3-year period."
1. Parties: Identification of the developer and the authority/municipality collecting the fees
2. Background: Context of the development project and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Development Description: Detailed description of the development project and scope
5. Fee Structure: Breakdown of development fees, calculation methodology, and payment schedule
6. Payment Terms: Terms and conditions for fee payments, including timing and methods
7. Security Requirements: Details of any required security deposits or guarantees
8. Developer Obligations: Specific responsibilities and commitments of the developer
9. Authority Obligations: Responsibilities and commitments of the authority/municipality
10. Default and Remedies: Consequences of default and available remedies
11. Term and Termination: Duration of agreement and termination provisions
12. Dispute Resolution: Process for resolving disputes between parties
13. General Provisions: Standard legal provisions including notices, amendments, and governing law
1. Phasing Provisions: Used when development and fee payments are to be implemented in phases
2. Credits and Offsets: Included when developer may receive credits against fees for providing infrastructure
3. Environmental Compliance: Required when development has significant environmental considerations
4. Community Benefits: Used when agreement includes provisions for community benefits or amenities
5. Third Party Rights: Needed when other parties have rights or obligations under the agreement
6. Transfer and Assignment: Included when transfer of development rights is anticipated
7. Force Majeure: Added when specific provisions for unforeseen circumstances are required
1. Schedule A - Legal Description: Detailed legal description of the development property
2. Schedule B - Development Plans: Site plans, drawings, and specifications of the development
3. Schedule C - Fee Calculation: Detailed methodology and calculations for development fees
4. Schedule D - Payment Schedule: Timeline and breakdown of fee payments
5. Schedule E - Security Requirements: Forms and amounts of required security deposits
6. Schedule F - Development Standards: Technical standards and requirements for the development
7. Appendix 1 - Forms: Standard forms for notices, certificates, and other documentation
8. Appendix 2 - Infrastructure Requirements: Specifications for required infrastructure improvements
Authors
Real Estate Development
Construction
Municipal Government
Urban Planning
Infrastructure Development
Commercial Property
Residential Property
Industrial Development
Public Sector
Banking and Finance
Legal
Finance
Real Estate Development
Project Management
Urban Planning
Construction Management
Municipal Relations
Infrastructure Planning
Risk Management
Compliance
Development Manager
City Planner
Municipal Lawyer
Real Estate Developer
Project Manager
Financial Controller
Urban Planning Director
Construction Manager
Development Officer
Infrastructure Coordinator
Legal Counsel
Chief Financial Officer
Development Executive
Municipal Administrator
Planning Supervisor
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