ZLDA

A zoning lot development agreement is the contract among the owners of a merged zoning lot that allocates what the merger pooled: who may build how much of the combined floor-area budget, where the unused development rights sit, and what ancillary commitments — light-and-air easements, design restrictions — ride along. Recorded against the affected properties, it binds successors.

In an air-rights purchase, the ZLDA is the substance of the deal: the declaration creates the merged zoning lot, and the agreement conveys the economics. In diligence, it is the document that answers whether the residual FAR a tax lot appears to hold is actually available — or was allocated away by a prior owner.