The 33 properties in Santa Monica with development agreements are all complying with their contracts, according to an annual review that the City Council will discuss Tuesday.
A real estate development agreement, or DA, allows developers to build beyond zoning restrictions if they include public benefits, such as public space or fees paid to community funds. The agreements contain different requirements because each agreement is individually negotiated. In Santa Monica, 23 completed and 10 uncompleted projects are subject to development agreements.
Read More: https://www.smdp.com/all-development-agreements-in-compliance-according-to-annual-report/177742