Lesson3_Government

Eriksen 3 real estate fundamentals texas tech

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Unformatted text preview: oard of Explosion in West, TX Dr. Eriksen 3 Real Estate Fundamentals Texas Tech University Lesson 3: Governmental Controls ISSUES WITH ZONING LAWS 14 Really, Really Hard to Predict Efficient Use May Interfere with Natural Process Zoning Laws May Raise the Price of Housing Prohibitions against “Exclusionary” Zoning Recent Movements to “Inclusionary” Zoning Unclear if Prevent or Promotes Urban Sprawl Example of Houston, TX ALTERNATIVES TO ZONING 15 Impact Fees Compensate Existing Owners for Externalities Despised by many in the building community Growth Limits Announced Future Restrictions on Growth Urban Growth Boundary in Seattle, WA • • Reduced Uncertainty for Developers Actually Encouraged More Growth within Boundary POWERS OF EMINENT DOMAIN 17 Eminent domain: Right of government to acquire private land, without the owner’s consent, for public use, with due process and just compensation Condemnation: Legal procedure for exercising the...
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This document was uploaded on 03/13/2014 for the course FIN 3332 at Texas Tech.

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