In order to utilize the incentives provided in § 35.16, the owner/developer and the City must enter into an enforceable agreement, including a development agreement pursuant to A.R.S. § 9-500.05, as to the terms and conditions of the development and such other provisions as may be requested by the City. The agreement must be consistent with requirements of this chapter and shall further identify the rights and obligations of the parties. The City may request that the agreement be secured or collateralized such that the owner/developer’s obligations are reasonably assured.
(Prior Code, § 23-4)