A plain English explanation of this ACT planning and property term.
development agreement means a deed or contract that— (a) was entered into by the lessee and the Territory or a territory entity, as a condition of the grant of a lease; and (b) sets out obligations with which the lessee must comply in relation to development of the land described in the lease.
An agreement between the ACT Government and a lessee that sets out the lessee's obligations for developing the land.