(1) Development Agreements may be negotiated and executed between the City and a property Owner to set forth specific requirements for a Development.

(2) Development Agreements are solely and exclusively the legislative action of the City Council and shall only be entered into upon the express legislative judgment that the execution of a Development Agreement by the City would promote the health, safety, and welfare of the citizens of the City.

(3) Development Agreements may authorize the amendment of the standards set forth by the West Valley City Municipal Code in order to facilitate the goals set forth herein.

(4) Property Owners shall have no entitlement or right to a new Development Agreement, to the amendment of an existing Development Agreement, or to any particular term or restriction of a Development Agreement. Any execution, termination, amendment, extension, or substitution of a Development Agreement requires the voluntary consent of the property Owner and the legislative approval of the City Council.

(5) All Development Agreements shall be recorded with the Salt Lake County Recorder.

(6) All Development Agreements shall run with the land and shall be binding upon any subsequent Owners, successors, heirs, assigns, or agents of the Person entering into the Development Agreement.