End of Chapter 10 Questions and Answers

End of Chapter 10 Questions and Answers - End of Chapter 10...

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End of Chapter 10 Questions and Answers 1. What is the purpose of zoning? Answer: To prevent negative externalities from affecting property value for different uses and by balancing land uses to maximize overall property values. 2. Does zoning positively or negatively affect land values? Answer: Both. Land that is constrained to less than the market would allocate will see higher prices (positive effect) while land that is over allocated will see lower prices. 3. What is a NIMBY? How do you think a NIMBY group can become satisfied that someone is concerned about their concerns? Answer: Not In My Back Yard. Communication ahead of time and listening to the concerns of NIMBYs as well as trying to address the legitimate concerns and providing evidence to contradict the illegitimate concerns where possible. 4. What is the purpose of building codes? Do they help maintain safer buildings? Answer: To protect those who built, live or work or visit the structure. Yes, building codes result in safer buildings, i.e. lead paint, unsafe wiring. 5. Why have building codes been criticized in recent years? Answer: Building codes make advances in technology more difficult to apply as they may not easily meet the current building code and methods of inspection. Innovations are more difficult with stringent building codes. Also some building code decisions, such as the type of materials to use for construction, might be made by an informed market rather than by government officials. 6. Why is it sometimes difficult to renovate older property and maintain its character? Answer: It is very hard to meet the building codes without altering the design and flow. For example a fire escape might affect the appearance or air conditioning might require air flow vents that mess up the character of the space.
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7. What is the ADA? How is enforcement brought about? Answer:
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This note was uploaded on 02/07/2012 for the course FIN 4380 taught by Professor Staff during the Spring '08 term at Texas State.

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End of Chapter 10 Questions and Answers - End of Chapter 10...

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