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Thread: Development Agreements for Tech Parks

  1. #1

    Development Agreements for Tech Parks

    Hi all,
    I'm looking for examples of application forms for development agreements. The town I'm working for requires that all nanotech facilities and any business occupying more than a certain number of square feet enter into a development agreement with the town before development starts. The terms of such agreements are outlined in the town code, and we're trying to develop the avenues through which interested companies can apply.

    thanks!

  2. #2
    Member CosmicMojo's avatar
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    I don't know what you're talking about.
    Do you mean performance-based agreement in which they promise certain results (creating 55 jobs, investing $45 million, building 3 miles road) in order to justify public incentives?

    If so, my general suggestions is to tie specific numbers into the agreement. Don't just say the comapny will provide jobs in exchange for a tax break. Say they'll provide 55 jobs with an average salary of $44,000 for at least 5 years or they have to refund ALL tax breaks and other incentives.

  3. #3
    Cyburbian nerudite's avatar
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    I think you'll need to explain what a development agreement is in your province. Here in Alberta, development agreements are contracts for development of infrastructure following a subdivision approval. In some states (in the US, obviously) development agreements allow for development timing and phasing regulations outside of a typical development process (Washington State).

    So that is a very confusing term, especially when the majority of users are from the States.

    So you may need to explain a little more about what you are looking for, in order for us to provide some good examples. Thanks!

  4. #4
    The kind of development agreement we're going for is geared towards ensuring that the incoming company builds and operates in a socially and environmentally responsible manner. One of the stipulations is that it makes contributions towards community improvements (libraries, education, etc). We need to translate all this onto an application form and are looking for examples of such a document.

  5. #5
    Cyburbian Cardinal's avatar
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    What you are talking about has only been instituted in a handful of communities. I do not know your situation, but those that have done it (at least in the US) have tended to be "boutique-y" towns with a decidedly left-leaning population. In most places, they would be an extreme barrier to economic development. I wonder if ou will encounter problems with them and your tech park. These businesses often do not have an income stream. It may take years of pouring money into research to develop products. Even where that is not hte case, the nature of many contracts creates a cyclical cash flow or requires lean operations. In thee cases, many investors will balk at imposing additional costs for donation to libraries.

    That said, a couple places have looked at this. I believe Augsburg, Germany, is one such place. Although San Diego has not done it as far as I know, they have looked at such requirements.
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