The town may enter into a development agreement with a developer for the development of property as provided in this chapter, provided the property contains at least 25 acres or more of highland. Development agreements involving property containing no more than 250 acres of highland shall be for a term not to exceed five years. Development agreements involving property containing 1,000 acres or less of highland but more than 250 acres of highland shall be for a term not to exceed ten years. Development agreements involving property containing 2,000 acres or less of highland but more than 1,000 acres of highland shall be for a term not to exceed 20 years. Development agreements involving property containing more than 2,000 acres may be for such term as the town and the developer shall elect.
(Ord. 99056, passed 12-14-99; Am. Ord. 05085, passed 12-14-05)