The Role of Community Benefits Agreement in New York Land Process

The Role of Community Benefits Agreement in New York Land Process.
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The Community Benefits Agreement (CBA) is a set of agreements that highlights the benefits a developer can give to own a corporation. It arises after negotiations between a community organization and a developer. The proposed agreement must have affected the community involved in the negotiations. Sometimes, communities agree to offer their support to the project proposed by the developer. However, there may be scenarios where they resolve to invoke procedures that delay the project. As a result, the developer assures the community of various benefits, such as affordable housing, environmental improvement, and local jobs. CBA has been a recent phenomenon in the U.S., particularly in New York City. Before this agreement, communities struggled with developers' knowledge in negotiations over amenities and mitigating the effects of land use. Therefore, this study highlights the benefits of CBA to the community or the advantages that the developer offers to society and the neighborhood.
The benefit of CBA, or developers through CBA, depends on the community and the development. Some of them include a dedication to making good use of local resources or businesses, materials, and labor required for the project. Similarly, CBAs, such as Bronx Terminal Market, Atlantic Yards, and Columbia, assure the community of a certain percentage of accommodation, which can be lowered to help low-income workers afford such housing (Fazio & Wallace 2010). The CBA contains a contract to cater to the wages of some workers, especially those who serve on contracted projects. As stipulated in the CBA, any development in the community should be set up in a friendl...