Land Use & Zoning
In Virginia, a 'floating zone' is a zoning category that:
AApplies to waterfront properties only
BIs defined in the ordinance but not placed on the zoning map until a specific application meets the criteria✓ Correct
CChanges automatically based on market conditions
DIs controlled by the state rather than the locality
Explanation
A floating zone is established in the zoning ordinance with specified conditions but is not mapped to a specific location until an applicant proposes a development that meets all the criteria, at which point it is 'anchored' to that location.
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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.
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.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Pre-ApprovalA lender's conditional commitment to loan a specific amount to a borrower, based on verified income, credit, and assets.
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