In this subtitle the following words have the meanings indicated. “Agreement” means a development rights and responsibilities agreement to establish the conditions under which development of real property may proceed that is: of a specified duration; made between: the county planning board or its designee; a reviewing entity; and a person having a legal or equitable interest in the property; and approved by the district council or the County Executive. “Development” means any activity that materially affects the existing condition or use of any land or structure. “Development” does not include normal agricultural activity. “Regulatory plan” means an application proposing development on privately owned land that must be submitted to the county planning board for review and final approval under this division or county law or regulation. “Reviewing entity” means the County Executive or other local, State, or federal government or unit that agrees to execute an agreement.