In furtherance of the agreement specified in section 302,¹ the partnering municipality, transportation authority, public transportation agency and, if participating, county representatives, including the designated management entity, shall enter into a development agreement with the pertinent private sector development organization or organizations to implement the proposed TRID. The development agreement shall stipulate the final project scope as well as the partners' roles, responsibilities, financing arrangements, schedule of improvements and the exactions or contributions to the project.