What is a Development Regulation Agreement?
A Development Regulation Agreement (DRA) is an optional application and review procedure intended to provide a new degree of flexibility in the application of the City’s development regulations so that conditions are tailored to the specifics of the proposed project and community vision in such a manner as to ensure that significant public benefits are secured.
Project approval is embodied in a contract designed to assure that public benefits are provided according to agreed-upon terms and conditions. Conditions may include, but are not limited to, project vesting, timing, and funding of on- and off-site improvements. The City is authorized, but not required, to accept, review, and/or approve proposed DRAs. This process would be voluntary, both on the part of the applicant and the City.
The DRA process is limited to projects that meet one of the following thresholds:
- A project in the International Financial Services Area (IFSA) that has a footprint of at least 15,000 square feet and a height of at least 75 feet.
- A project in the Downtown area, but outside the IFSA, that has a footprint of at least 15,000 square feet, a height of at least 75 feet, and has significant public ownership or control.
- A project in the Downtown area that preserves a historic structure or assists in preserving an adjacent historic structure.
- An institutional use occupying more than five acres located anywhere within the City, excluding public utility sites.
The City Council completed its review and public hearing process for the code amendments pertaining to Development Regulation Agreements (DRA) and adopted the proposal, with minor modifications, by Amended Ordinance No. 27877 on March 2, 2010.