1. A governing body may carry out the plan for infrastructure by negotiating master development agreements, independently or in conjunction with an interlocal agreement for the area.
2. As used in this section, "master development agreement" means a written agreement:
(a) Between a governing body and a person who has a legal or equitable interest in land that is entered into upon the application of the person who wishes to develop that land;
(b) To enable the governing body to distribute equitably the costs to develop infrastructure for an area of land that is undeveloped land; and
(c) That is based on an analysis of the need for infrastructure that is prepared pursuant to NRS 278.02591.
(Added to NRS by 1999, 3365; A 2015, 315)