(7) Effect of Approval . The developer(s) and Town, pursuant to the development agreement, shall be subject to the terms and conditions of the agreement and to the laws in force at the time of execution of the agreement, unless otherwise provided by specific provisions in the agreement or §160D-1007 of the North Carolina General Statutes. The development agreement shall be subject to the requirements of §160D-1001. (8) Expiration, Termination or Modification . A development agreement shall expire in accordance with the provisions of the agreement and may be terminated or modified by mutual consent of the parties to the agreement or their successors in interest or in accordance with provisions of this Article or §160D-1009 of the North Carolina General Statutes. Modifications to the development agreement shall follow the same procedures as required for the initial approval of a development agreement.
j. Development Phase Line Adjustment
After a site plan or preliminary major subdivision plat has been approved, there may be instances where phasing was applied with the approval and changes physically to the site, market changes, or development trends fluctuate such that adjustments to phase line(s) may be necessary.
(1) Submittal Request . The property owner/developer shall submit a revised
preliminary subdivision plat with a revised phasing plan to the Planning Department for review and approval. The submittal shall include an application provided by the Planning Department and fee as determined by the Fee Schedule that is adopted by the Town Board of Commissioners annually. (2) Additional Documentation . If the submittal for a phase adjustment is requested after construction drawings have been submitted or approved, the request for such phasing adjustment must include revised construction drawings to match the changes to the site plan or preliminary major subdivision plat. (3) Approval . The approval of a phasing change is handled administratively by the Planning Department unless it is determined by the Planning Director that the complexity or the intent of such phasing adjustment would require review by the Planning Board and Town Board of Commissioners.
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