A. Unless amended or terminated, a development agreement is enforceable during its term by a party to the agreement. A development agreement and the development standards in the agreement govern during the term of the agreement, or for all or that part of the build-out period of the project specified in the agreement, and the project may not be subject to an amendment to a zoning ordinance, or development standard, or regulation adopted after the effective date of the agreement. A permit or approval issued by the city after the execution of the development agreement must be consistent with the development agreement.

B. Under subsection A of this section, a development agreement provides an alternative to vesting rights provided in Section 1B.060 of the Lacey Development Guidelines and Public Works Standards.

C. The term of the approval of a development agreement shall be determined on a project specific basis. The city council may consider modifying the term of an agreement at the request of the property owner. In order to modify the term of the agreement, the city council shall find that the agreement is consistent with the city’s Comprehensive Plan and modifying the term of the agreement is in the best interest of the city.

D. A development agreement may reserve capacity in the transportation system for the proposed development’s trip generation and, in such case, the proposed development shall be deemed to have achieved transportation concurrency under the concurrency rules and regulations in effect on the effective date of the development agreement. The term for the concurrency determination shall be set forth in the development agreement. (Ord. 1471 §1 (part), 2015).