A Regulatory Agreement is a contract entered into between a property owner who wants to develop or redevelop their property, and the Town and/or the Cape Cod Commission, the primary purpose of which is to negotiate and establish the development regulations and conditions that will apply to the property during the term of the agreement.
This is a flexible tool that can allow development in a way that the current zoning regulations would prohibit, and can streamline the permitting process. In return, the developer agrees to provide certain benefits that contribute to the Town, such as improving Town infrastructure, land preservation, community or recreational facilities, affordable housing, or other benefit that serves the development and the Town.
A Regulatory Agreement requires approval of both the Planning Board and the Town Council.
