Difference between revisions of "Next Generation Home Buyers"
From Central Park Historical Society Encyclopedia
(Created page with "November 2004, in response to a growing need for housing for our young people, the Oyster Bay Town Board approved legislation creating a brand new zoning classification known ...") |
Latest revision as of 00:23, 5 November 2013
November 2004, in response to a growing need for housing for our young people, the Oyster Bay Town Board approved legislation creating a brand new zoning classification known as "RNG-12" or "Next Generation". The legislation, which was developed in partnership with the Long Island Housing Partnership (LIHP), was designed to encourage developers to build price controlled housing for first-time homebuyers.
"Next Generation" housing district classification allows for 12 units to the acre of price controlled, owner-occupied townhouses with garages. It is a floating zone requiring a minimum of two acres for development. Applicants for the townhouse units have to meet income and other guidelines.
The Long Island Housing Partnership has been a leader in the developing and promoting affordable home ownership and will handle the applications and the lottery for the units.
Information from the BETHPAGE TRIBUNE, February 15 - 21, 2008
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