Land Use & Zoning
In New York, 'density bonuses' in zoning allow developers to build more units than normally permitted in exchange for:
APaying additional property taxes
BProviding community amenities such as affordable housing, public plazas, or other public benefits✓ Correct
CReducing parking requirements
DUsing sustainable building materials
Explanation
Density bonuses allow developers to exceed standard density limits in exchange for providing specified community benefits, such as affordable housing units, publicly accessible open space, or transit improvements.
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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.
1031 ExchangeA tax-deferred exchange allowing investors to sell one investment property and reinvest proceeds in a like-kind property while deferring capital gains taxes.
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.
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