Common use of Code Authorization Clause in Contracts

Code Authorization. In order to strengthen the public planning process, encourage private participation in comprehensive planning, and reduce the economic risk of development, the Legislature of the State of California adopted Government Code Section 65864 et. seq. (the “Development Agreement Statute”), which authorizes the City to enter into a development agreement with any person having legal or equitable interest in real property regarding the development of such property. Pursuant to Government Code Section 65865, the City has adopted Chapter 56 of the San Francisco Administrative Code establishing procedures and requirements for entering into a development agreement with a private developer pursuant to the Development Agreement Statute.

Code Authorization. In order to strengthen the public planning process, encourage private participation in comprehensive planning, and reduce the economic risk of development, the Legislature of the State of California adopted Government Code Section 65864 et. et seq. (the “Development Agreement Statute”), which authorizes the City to enter into a development agreement with any person having a legal or equitable interest in real property regarding the development of such property. Pursuant to Government Code Section 65865, the City has adopted Chapter 56 of the San Francisco Administrative Code (“Chapter 56”) establishing procedures and requirements for entering into a development agreement with a private developer pursuant to the Development Agreement Statute. The Parties are entering into this Agreement in accordance with the Development Agreement Statute and Chapter 56.