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Master Development Agreement

KShs 11,000.00

A Master Development Agreement (MDA) is a comprehensive legal contract between a property developer and a governing body, such as a municipality. It usually governs a STAR bond district and any STAR bond projects. This agreement outlines the responsibilities, rights, and obligations of both parties involved in a multi-phase development project. Key components of an MDA include a detailed project description, specifying the scope, purpose, and objectives of the development.
It also delineates the responsibilities of the developer, including construction, funding, and adherence to zoning regulations, as well as the governing body’s obligations, such as providing necessary public infrastructure and services.
The MDA sets the project’s timeline, including completion dates and any potential extensions. Financial provisions are clearly defined, covering project costs, funding sources, taxes, fees, and contributions to public infrastructure. Additionally, the agreement ensures compliance with zoning and land use regulations, confirming any required changes. The MDA also addresses risk management, legal clarity, and dispute resolution mechanisms, reducing the likelihood of conflicts. By establishing a structured framework, the MDA facilitates a coordinated approach to the development, ensuring all parties are aligned and the project progresses smoothly.

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