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(4) The Board of Selectmen or their designee shall be authorized to execute, on behalf of the Town, a <br /> development agreement. Prior to executing said development agreement, the Board of Selectmen <br /> shall, at a public meeting, vote to authorize said execution. The Board of Selectmen shall, within <br /> seven (7) days of the vote authorizing the execution of the development agreement, cause said <br /> development agreement to be so executed and forward the same to the Qualified Applicant by <br /> certified, return receipt mail. Within twenty-one (21) days of the date said development agreement <br /> has been mailed by the Board of Selectmen, the Qualified Applicant shall execute the agreement <br /> and return either by certified mail or hand delivery,the fully executed development agreement. <br /> E. Elements of Development Agreements. <br /> (1) Proffers by a Qualified Applicant: A development agreement may include, but is not limited to, <br /> provisions whereby a Qualified Applicant agrees to provide certain benefits which contribute to <br /> one or more of the following: infrastructure; public capital facilities; land dedication and / or <br /> preservation; affordable housing, either on or off-site; employment opportunities; community <br /> facilities; recreational .facilities and / or any other benefit intended to serve the proposed <br /> development, the Town, another municipality or the county, including site design standards to <br /> ensure preservation of community character and natural resources. <br /> (2) Proffers by a Lead Community:A development agreement may include provisions whereby a Lead <br /> Community and / or an abutting municipality agree to provide certain protection from future <br /> changes in applicable local regulations and assistance in streamlining the local regulatory approval <br /> process. Streamlining may include, where not in conflict with existing local, state or federal law, <br /> holding of joint hearings, coordination of permit applications and, where possible, accelerated <br /> review of permit approvals. A development agreement may also provide for extensions of time <br /> within which development approvals under state, regional and local laws may be extended to <br /> coincide with the expiration of the development agreement established in Subsection G. below. <br /> When the Cape Cod Commission is not a party to the development agreement, land use <br /> development rights shall not vest with respect to Cape Cod Commission regulations and <br /> designations and the property shall be subject to subsequent changes in the Commission's <br /> regulations and designations. <br /> F. Procedural requirements for Development Agreements where the Cape Cod Commission is a party to <br /> the Agreement. <br /> (1) Where the Cape Cod Commission is to be a party to a development agreement, a Qualified <br /> Applicant shall complete a Development Agreement Application Form and comply with the <br /> specific requirements set forth in Section 5 of Chapter D of the Code of Cape Cod Commission <br /> Regulations of General Application,as revised. <br /> (2) Where the Cape Cod Commission is to be a party to a development agreement, the procedural <br /> requirements established in Section 5 of Chapter D of the Code of Cape Cod Commission <br /> Regulations of General Application, as revised shall be followed and no such development <br /> agreement shall be valid unless and until the requirements of said Section 5 of Chapter D have been s, <br /> I <br /> complied with in full. <br /> G G. Procedural requirements for Development Agreements where the Cape Cod Commission is not a party <br /> Fx to the Agreement <br /> r+ <br /> N (1) Where the Cape Cod Commission is not to be a party to a development agreement, a Qualified <br /> Applicant shall complete a Development Agreement Application Form. The Development <br /> 1' Agreement Application Form shall include: <br /> a) A fully completed Cape Cod Commission Development of Regional Impact Application <br /> Form,including a certified list of abutters; <br /> b) A legal description of the land subject to the agreement, along with the names of its legal and <br /> equitable owners; <br /> c) The proposed duration of the agreement; <br />