Specifically, under this package, a landowner could increase the density of allowable development on a parcel of land in exchange for preserving a portion in perpetuity.

House Bill 4995, sponsored by State Representative Ruth Johnson (R - Holly), and House Bill 5028, sponsored by State representative Randy Richardville (R - Monroe), creates an option for developers to increase density in exchange for preserving 50% of the land as open space.

"We are determined to protect private property rights and keep taxes down," says Rep. Johnson. She chairs the House Land Use and Environment Committee.

House Bill 5029, sponsored by Chris Kolb (D - Ann Arbor), limits the development in cities and villages to not more than 80% of the property to receive the increased density allotment. This takes into consideration the limited space in more urban areas.

The bill package requires local units of government to enact ordinances within 12 months of the effective date of the act to allow this open space preservation.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.