The purpose of this chapter is to establish the review process and criteria for approval for development agreements between the city and any person, partnership, corporation, or other entity that owns or controls real property. Pursuant to RCW 36.70B.170 through 36.70B.210, a development agreement provides a mechanism for the city to enter into voluntary contractual agreements with an entity or entities that own or control real property within the city and/or its urban growth area to govern the development of land and the issuance of project permits. The agreement grants vesting rights to the proposed development consistent with the development regulations, use, and mitigation of the real property at the time of execution of the agreement for the duration specified in the agreement. (Ord. 005/2019 § 10 (Exh. B))