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Development Agreement and to the Commission of its intention to amend or rescind the <br /> agreement by providing such parties and the Commission with a copy of the petition seeking <br /> such amendment or rescission. When the Town or Lead Community initiates an amendment or <br /> rescission, it shall provide notice, in writing, to all other parties to the Agreement. <br /> Where the Cape Cod Commission is a Participating Party, such changes may be authorized by <br /> the Cape Cod Commission and a majority vote of the Board of Selectmen, after review and <br /> favorable recommendation by the Planning Board, as well as by the appropriate vote or approval <br /> of all other parties to the original Development Agreement. Where the Cape Cod Commission is <br /> not a Participating Party, such changes may be authorized by a majority vote of the Board of <br /> Selectmen, after review and favorable recommendation by the Planning Board, as well as by the <br /> appropriate vote or approval of all other parties to the original Development Agreement. <br /> 3. Any Development Agreement may contain provisions further regulating its amendment <br /> or rescission."; <br /> In addition to the above amendments, capitalize the term "Development Agreement(s)"wherever <br /> it appears in Section 174-27.1; <br /> or take any other action relating thereto. <br /> Submitted by Planning Board <br /> Explanation: The Cape Cod Commission has amended its regulations (Chapter D) regarding <br /> Development Agreements and promulgated a new model zoning by-law with which Mashpee's <br /> current Development Agreement zoning by-law (which was based on the Commission's previous <br /> model by-law) must be brought into conformance, according to the Commission, in order for the <br /> Town to enter into Development Agreements. As the Planning Board, Cape Cod Commission <br /> and Mashpee Commons LP are currently in the process of preparing a Development Agreement <br /> regarding two proposed new sections of the Mashpee Commons development, this article has <br /> been submitted to allow the Town to continue participation in that process. The amendments <br /> consist primarily of minor language changes, with the exception of a revised definition of the <br /> purpose of a "Development Agreement", a new definition of "Participating Parties" and an <br /> entirely new process for "Minor" and "Major" modifications of an approved Development <br /> Agreement. <br /> The Board of Selectmen recommends approval by a vote of-0. <br /> The Finance Committee recommends approval. <br /> At its meeting on October 5, 2011, the Planning Board voted 4-0 to recommend approval of <br /> Article 19, provided that the following sentence be added to §174-27.1, Subsection L1.: <br /> Where the Cape Cod Commission is not a participating part, such changes may be <br /> authorized by a majority vote of the Board of Selectmen, after review and favorable <br /> recommendation by the Planning Board, as well as the appropriate vote or approval of all <br /> other parties to the original Development Agreement. <br /> Motion made to dispense with reading of article. <br /> Motion to dispense with reading of article passes at 8:44 PM. <br /> 24 <br />