Rezoning is the process of changing the designated land use regulations for a specific area or property, typically to accommodate different types of development or land use. This often involves alterations to zoning ordinances, allowing for new land uses, and can impact property values and community development.

Refer to the legal permissions and rights granted by local government authorities for specific land development projects. These permissions typically include zoning approvals, environmental permits, land use variances, and other necessary clearances to proceed with construction and development.

Comprehensive Plan Amendments, often referred to as comp plan amendments, are modifications to a municipality's comprehensive land use plan. These changes are typically made to update or adjust the long-term vision for land use, infrastructure, and development within a specific area, ensuring alignment with evolving community needs and goals.

Text Amendments are revisions or modifications made to the written text of local zoning ordinances, land use codes, or regulations governing land development and use within a municipality. These changes can involve adjustments to definitions, rules, or requirements, aiming to address specific issues, clarify language, or adapt to evolving urban planning needs.

The Return on Cost (ROC) in multifamily development is a financial metric that measures the profitability of a real estate development project in relation to the total construction or development costs. It is calculated by dividing the project's net operating income (NOI), which is the income generated from the property after accounting for operating expenses, by the total cost of construction, including land acquisition, construction costs, development fees, and other expenses. The ROC is typically expressed as a percentage and represents the return that developers or investors can expect to earn on their investment in the development project. A higher ROC indicates a more profitable project, while a lower ROC may suggest a less attractive investment.

Net Operating Income (NOI) is a financial metric in real estate that represents the income generated from a property after subtracting all operating expenses but before deducting mortgage payments, interest, or income tax. It provides a clear snapshot of a property's operational profitability, making it a vital indicator for real estate investors to assess investment performance and potential cash flow.

Absorption in real estate measures how quickly available properties are leased or sold in a given market over a specific timeframe. It provides insights into market demand and the balance between supply and interest in properties, aiding in pricing and investment decisions.

In municipal codes or Municode, "density" regulations govern the number of allowable dwelling units or structures on a given area of land, while "intensity" regulations encompass a wider range of factors, including building height, floor area, and land coverage. These standards are crucial for managing land use, population density, and the overall character of different areas within a municipality. The specific definitions and requirements for density and intensity can vary from one municipality to another and are typically outlined in zoning ordinances.

A Comprehensive Plan, often referred to as a "Comp Plan," is a document or set of guidelines that serves as a blueprint for the long-term physical development and land use within a municipality or jurisdiction. It outlines a vision for the future of a community, addressing factors such as land use, transportation, housing, infrastructure, and environmental conservation. Comprehensive Plans are essential for urban planning, zoning, and ensuring that development aligns with the goals, needs, and values of a community over time.