A Community Benefits Agreement (CBA) is a project-specific agreement between a developer and the community which details the project’s contributions to the community. Communities may add stipulations to developments requiring special approvals or funding in the form of a CBA to ensure existing local small businesses have viable options for continued operation.
See the Truist Case Study.
Other Property-Based Policies & Programs:
With the areas identified from the mapping, surveys and interviews, communities can identify at risk commercial areas and designate special corridors where policies and programs can be implemented.
Once key areas facing commercial displacement have been identified, communities can use zoning to create urban and suburban forms that can assist in maintaining some small businesses.
A Community Land Trust is a non-profit corporation which: Buys property in a jurisdiction, Maintains a ground lease, Sells the building to an independent, locally owned business or group of business owners. When the business chooses to sell the property, the Community Land Trust repurchases it at a set price.