Development Agreement (Gaming Law) Law and Legal Definition
Development agreement is a written agreement between a government and a developer stating the terms and conditions in connection with the establishment of a casino in the city or county. Every aspects relating to the establishment of a casino will be elaborated in the development agreement. It is technically similar to other development agreements with regard to real property and the like.
Following is an example of a state statute (Michigan) defining the term Development Agreement in connection with the development of a casino :
MCLS § 432.202. Development Agreement means a written agreement between a city and a person naming the person as the designated developer of a casino in the city and covering certain subjects including, but not limited to: approval by the city of the location of the casino; certification by the city that the applicant has sufficient financial resources to construct and open the casino which it proposes to develop; zoning and site plan requirements; utility connection fees; infrastructure improvements; requirements to utilize local businesses and small businesses as suppliers; employment issues; compulsive gambling programs; insurance requirements; conceptual design approval; reimbursement for predevelopment and infrastructure costs, traffic engineering, and other transportation costs; plans for completion of destination attractions either within or outside the casino facility and ancillary development rights.