Method used to create affordable housing units, community diversity and equity. Developers may be required or provided with incentives to develop a certain percentage of affordable housing units.
The establishment of zoning regulations which create incentives or requirements for affordable housing development. This can include set-aside requirements or density bonuses for developers.
A system that requires a minimum percentage of lower and moderate income housing to be provided in new developments. Inclusionary programs are based on mandatory requirements or development incentives, such as density bonuses.
Regulations that provide incentives to construct housing that is affordable to low- and moderate-income households.
Legislation for certain areas requiring moneys to be set aside in new property development to benefit low/moderate income individuals.
Inclusionary zoning requires that some portion of every new housing development beyond a given threshold size (e.g., 50 units) is offered at a price that will be affordable to low income residents. The specifics of inclusionary zoning programs differ across jurisdictions. Programs typically ask or require developers to contribute to a community's affordable housing stock in exchange for development rights or zoning variances. Some programs are mandatory, while others provide incentives. Some involve cash contributions to an affordable housing fund, while others involve the construction of affordable units within the development. Some waive regulatory requirements, such as parking space, or reimburse impact fees for developments.
Usually practiced in urban areas, is planning communities and developments that will provide housing to all income brackets. Inclusionary zoning ordinances often require any new housing construction to include a set percentage of affordable housing units. The positive aspects of Inclusionary zoning include the production of affordable housing at little cost to local government, the creation of income-integrated communities, and the lessening of sprawl. Negative aspects of inclusionary zoning may include shifting the cost of providing affordable housing, segmenting the upwardly mobile poor, and inducing growth. Reference: www.answers.com
A zoning ordinance that requires a developer to include affordable housing (or its funding) as part of the development. Typically, a developer makes a certain percentage of the units affordable in exchange for a density bonus.
Inclusionary zoning, also know as inclusionary housing, refers to city planning ordinances that require a given share of new construction be affordable to people with low to moderate incomes. The term inclusionary zoning is derived from the fact that these ordinances seek to counter exclusionary zoning practices which aim to exclude affordable housing from a municipality through the zoning code. In practice, these policies involve placing deed restrictions on 10%-30% of new houses or apartments in order to make the costs of the housing affordable to lower income households.