Land Use & Zoning
The Massachusetts Environmental Policy Act (MEPA) requires environmental review for:
AAll residential sales in Massachusetts
BProjects meeting certain thresholds that may have a significant environmental impact✓ Correct
CAll properties within 100 feet of wetlands
DAnnual review of all commercial buildings
Explanation
MEPA requires state agencies to evaluate the environmental impacts of projects that meet specified thresholds (e.g.
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Key Terms to Know
Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
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