b. "Allowable use" in structures is the user activities permitted in a zoning classification, such as florist, travel agency, insurance agency, and so on and the allowable uses are determined usually by SIC code classifications.

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Which of the following statement is incorrect?

Select one:

a. "Property tax abatements" is forgiveness of taxes for a specified number of years, which is used by city planners to attract development to certain locations.

b. "Allowable use" in structures is the user activities permitted in a zoning classification, such as florist, travel agency, insurance agency, and so on and the allowable uses are determined usually by SIC code classifications.

c. The standby commitment is like an option that the developer can use as a source of financing, but may choose not to if a better alternative is found.

d. Most of the answers are correct.

e. "Circulation" is when a part of a zoning ordinance requires a specified type of development to be included in order to obtain a permit for that site such as the requirement that low-income housing units be included in a multifamily housing development in order for a permit to be granted.

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