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A development agreement is a contract where a developer agrees to manage construction on behalf of another party, outlining obligations related to cost, quality, and timing, along with property interest transfers. A development funding agreement, or forward funding agreement, provides interim financing for construction, allowing investors to earn a fixed return. Project Development Agreements (PDAs) are utilized in urban regeneration, permitting government landowners to maintain control over developments while allowing developers to defer payments and land acquisition. Joint Development Agreements (JDAs) relate to collaborative land development between parties.
