Bonus/Incentive Zoning
Unit Size2 (square feet) | Maximum Sales Price Multiplier1 (Multiply by Median Household Income3 of Town) | |
|---|---|---|
700 | 1.6 | |
800 | 1.7 | |
900 | 1.8 | |
1,000 | 1.9 | |
1,100 | 2.0 | |
1,200 | 2.1 | |
1,300 | 2.2 | |
1,400 | 2.3 |
Notes: 1Maximum price for home purchase is based on a multiplication factor of the median household income in the Town of Glenville. For example, if the median household income is $64,283 (2012), then the target or maximum sales price for a unit of 1,000 square feet equals $64,283 times 1.9, or $122,138. 2Livable floor area (minimum size is 700 square feet). Sales prices for units of intervening size shall be established by the Planning and Zoning Commission using the direct ratio method. 3Median household income of the Town based upon most recent census data. |
Unit Size1 (square feet) | Maximum Rental Rate Multiplier3) (Multiply by Median Household Income2 of Town) | |
|---|---|---|
600 | .09 | |
700 | .10 | |
800 | .11 | |
900 | .12 | |
1,000 | .13 | |
1,100 | .14 | |
1,200 | .15 | |
1,300 | .16 |
Notes: 1Livable floor area (minimum size is 600 square feet, although any rental units built after May 15, 2013, must include a minimum of 800 square feet). Rental rates for units of intervening size shall be established by the Planning and Zoning Commission using the direct ratio method. 2Median household income of the Town based upon most recent census data. 3Maximum rental rate reflects the total rent payment for 12 months, not including utilities or additional items such as garage rental. For example, if the median household income in the Town of Glenville is $64,283 (2012), then a landlord can charge a tenant a yearly amount equal to .11 of $64,283, or $7,071 for a unit of 800 square feet. If one divides $7,071 by 12, the maximum monthly rent equals $589. |
Bonus/Incentive Zoning
Unit Size2 (square feet) | Maximum Sales Price Multiplier1 (Multiply by Median Household Income3 of Town) | |
|---|---|---|
700 | 1.6 | |
800 | 1.7 | |
900 | 1.8 | |
1,000 | 1.9 | |
1,100 | 2.0 | |
1,200 | 2.1 | |
1,300 | 2.2 | |
1,400 | 2.3 |
Notes: 1Maximum price for home purchase is based on a multiplication factor of the median household income in the Town of Glenville. For example, if the median household income is $64,283 (2012), then the target or maximum sales price for a unit of 1,000 square feet equals $64,283 times 1.9, or $122,138. 2Livable floor area (minimum size is 700 square feet). Sales prices for units of intervening size shall be established by the Planning and Zoning Commission using the direct ratio method. 3Median household income of the Town based upon most recent census data. |
Unit Size1 (square feet) | Maximum Rental Rate Multiplier3) (Multiply by Median Household Income2 of Town) | |
|---|---|---|
600 | .09 | |
700 | .10 | |
800 | .11 | |
900 | .12 | |
1,000 | .13 | |
1,100 | .14 | |
1,200 | .15 | |
1,300 | .16 |
Notes: 1Livable floor area (minimum size is 600 square feet, although any rental units built after May 15, 2013, must include a minimum of 800 square feet). Rental rates for units of intervening size shall be established by the Planning and Zoning Commission using the direct ratio method. 2Median household income of the Town based upon most recent census data. 3Maximum rental rate reflects the total rent payment for 12 months, not including utilities or additional items such as garage rental. For example, if the median household income in the Town of Glenville is $64,283 (2012), then a landlord can charge a tenant a yearly amount equal to .11 of $64,283, or $7,071 for a unit of 800 square feet. If one divides $7,071 by 12, the maximum monthly rent equals $589. |