How can big projects, like building a new stadium or a skyscraper, benefit the local community? A community Benefits Plan (CBP) is like a developer’s promise to give back to the neighborhood.
What is a CBP?
A CBP is a deal between a developer and the community. The developer agrees to provide specific benefits to the local area in exchange for support or other considerations. These benefits can include jobs and affordable housing to funding schools or parks.
Why do we need CBPs?
Big projects can significantly impact a neighborhood. They can bring jobs and economic growth but cause problems like increased traffic or overcrowding. A CBP helps to balance these effects by ensuring that the community shares in the project’s benefits.
What’s in a CBP?
The details of a CBP can vary depending on the project and the community’s needs. But here are some everyday things you might find in a CBP:
- Jobs: The developer might agree to hire local people, especially those who live in low-income areas. They could also provide job training programs to help people get qualified for good jobs.
- Affordable Housing: This could mean building new affordable housing units or preserving existing ones.
- Community Facilities: The developer might fund improvements to schools, parks, or other community facilities.
- Local Businesses: The CBP could include ways to support local businesses, like creating opportunities to sell their products or services at the new development.
- Environmental Protection: Some CBPs include plans to protect the environment, such as planting trees or using green building practices.
How do CBPs work?
To create a CBP, community groups and the developer work together to identify the community’s needs and priorities. They then negotiate the terms of the agreement. Once the CBP is in place, there are usually systems for monitoring and enforcing it to ensure the developer keeps their promises.
The Bottom Line
Community Benefits Plans are essential for ensuring big projects benefit everyone, not just the developers. They help to create stronger, more equitable communities. By working together, communities and developers can find ways to share the benefits of growth and development.