A.

Large, Multi-Phase Development Project. A development agreement may be considered for a large, multi-phase development project that will require a developer to make a substantial investment at the early stages of the project for planning and engineering for the entire project and for public facilities and services. In order to be considered for a development agreement, a project must be consistent with the General Plan and any applicable specific plan, unless the applicant has submitted an application for any necessary amendments to the General Plan or specific plan.

B.

Property Subject to Annexation. An applicant whose property is located within the City's sphere of influence, or whose property is the subject of a pending application for inclusion into the sphere of influence, may file an application to enter into a development agreement.

1.

The agreement will not become operative unless annexation proceedings annexing property to the City are completed within the period of time specified by the agreement.

2.

If the annexation is not completed within the time specified in the agreement or any extension of the agreement, the agreement is null and void.