Land Use & Zoning
Minnesota cities often adopt 'inclusionary zoning' requirements for large residential developments. These requirements typically mandate that a percentage of units be:
AOwner-occupied rather than rental
BAffordable to lower or moderate income households✓ Correct
CAt least 1,500 square feet in size
DBuilt to LEED certification standards
Explanation
Inclusionary zoning in Minnesota cities (particularly Minneapolis, St. Paul, and suburban cities) requires developers of large residential projects to include a percentage of affordable units (priced or rented for lower or moderate income households).
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Math Concepts
State-Specific Concepts
DRE Regulation
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