Value Capture & Public Benefits
For well over a decade, Keyser Marston has been actively advising clients on the establishment of successful public benefit zoning programs. These programs provide developers with increases in density, height, floor area ratio, etc. in return for providing community benefits that mitigate the impacts created by the intensified zoning. KMA also assists clients in creating programs that allow for changes in use in return for offsetting community benefits. We understand that the key to creating a successful public benefit zoning plan is to provide sufficient balance among planning policies, the community’s desires, the value to the landowner, and the impact on the development economics created by the community benefit requirements and the enhanced zoning benefits.
Keyser Marston evaluates applications submitted by developers to use established public benefit zoning programs. The KMA financial evaluations compare the value enhancement created by the increased development potential to the costs associated with providing the desired array of community benefits. KMA also provides these services in communities that do not have an established public benefits zoning program, but that wish to provide these benefits in the form of a Development Agreement that imposes public benefits requirements to mitigate the project’s impact.
Keyser Marston assists clients in structuring Development Agreements for multi-phased projects and projects with protracted development schedules. In these cases, KMA evaluates the fiscal benefits anticipated to be generated by the proposed project, and assists the client in structuring revenue capture payments that are triggered if the project is not developed within the agreed upon time period.
Our Services Include:
- Incentive Zoning Analyses
- Economic and Fiscal Impact Analyses
- Creation of Community Benefits Packages
- Development Agreement Negotiation
- Density Bonus Transaction Structuring