Final answer:
The land development stage involving obtaining approval, permanent financing, and land purchase is known as the Entitlement phase.
Step-by-step explanation:
The stage of land development during which approval is sought from local officials, permanent financing is obtained, and the land is purchased is known as the Entitlement phase. This phase involves gaining permitted rights to a property for development, including ensuring compliance with zoning and other regulations by the municipality. Obtaining approval from local officials, securing permanent financing, and purchasing the land are integral steps in this process as they ensure the developer has the legal and financial backing necessary for the forthcoming development.