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What is Community Benefits Agreement mean?
A community benefits agreement (CBA) in the United States is a contract signed by community groups and a real estate developer that requires the developer to provide specific amenities and/or mitigations to the local community or neighborhood. In exchange, the community groups agree to publicly support the project, or at least not oppose it. Often, negotiating a CBA relies heavily upon the formation of a multi-issue, broad based community coalition including community, environmental, faith-based and labor organizations.
In the United Kingdom, Section 106 agreements and in Canada, "Section 37" agreements similarly require certain benefits from developers, but differ from CBAs in that they are part of development agreements with governments, not communities. CBAs are generally private, contractual agreements, although they can in some instances be made part of a development agreement with a city.
referencePosted on 17 Oct 2024, this text provides information on Miscellaneous in Community related to Community. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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