(A) The City Council may require a petitioner, at the time of zoning approval, to enter into a zoning development agreement which specifies and details the petitioner’s responsibilities and commitments in carrying out development contained in an approved concept development plan, and which lists the conditions and limitations of development imposed by the city and also the contemplated action of the city in case of default by a petitioner, or any successors in interest, in the rezoned property.
(B) The agreement shall also contain the petitioner’s acknowledgment that the commitment of zoning is predicted upon the good faith accomplishment of the approved development and, if not started or constructed within the specified periods of time, the city may take steps to rescind zoning approval and revert the zoning to its former or other appropriate zone.
(Prior Code, § 52.18) (Ord. 2-92, passed - -1992)