Modernizes Chapter 40R by updating zoning incentive payments and establishing a payment allocation for new housing units.
This bill updates and modernizes Chapter 40R by revising zoning incentive payments for smart growth and starter home zoning districts. It sets a 1-time density bonus payment of $6,000 for each housing unit in smart growth districts and a 1-time production bonus payment of $6,000 for each housing unit in starter home districts. The executive office may allocate up to 50% of the payment to for-profit developers constructing new housing units, considering exemptions for affordable housing.
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- Core Provisions
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- Legal Framework
- Critical Issues
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