New York Laws
Article 7 - Building Zones
7-703 - Incentive Zoning; Definitions, Purpose, Conditions, Procedures.

(1) the incentives, or bonuses, which may be granted by the village to
the applicant;
(2) the community benefits or amenities which may be accepted from the
applicant by the village;
(3) criteria for approval, including methods required for determining
the adequacy of community amenities to be accepted from the applicant in
exchange for the particular bonus or incentive to be granted to the
applicant by the village;
(4) the procedure for obtaining bonuses, including applications and
the review process, and the imposition of terms and conditions attached
to any approval; and
(5) provision for a public hearing, if such public hearing is required
as part of a zoning ordinance or local law adopted pursuant to this
section and give public notice thereof by the publication in the
official newspaper of such hearing at least five days prior to the date
thereof.
f. All other requirements of article eight of the environmental
conservation law shall be complied with by project sponsors for actions
in areas for which a generic environmental impact statement has been
prepared including preparation of an environmental assessment form and a
supplemental environmental impact statement, if necessary.
g. Prior to the adoption or amendment of the zoning local law pursuant
to this section to establish a system of zoning incentives or bonuses
the village board shall evaluate the impact of the provision of such
system of zoning incentives or bonuses upon the potential development of
affordable housing gained by the provision of any such incentive or
bonus afforded to an applicant or lost in the provision by an applicant
of any community amenity to the village. Further, the village board of
trustees shall determine that there is approximate equivalence between
potential affordable housing lost or gained or that the village has or
will take reasonable action to compensate for any negative impact upon
the availability or potential development of affordable housing caused
by the provisions of this section.
h. If the village board of trustees determines that a suitable
community benefit or amenity is not immediately feasible, or otherwise
not practical, the board may require, in lieu thereof, a payment to the
village of a sum to be determined by the board. If cash is accepted in
lieu of other community benefit or amenity, provisions shall be made for
such sum to be deposited in a trust fund to be used by the village board
of trustees exclusively for specific community benefits authorized by
the village board of trustees.
4. Nothing in this section shall be construed to invalidate any
provision for incentives or bonuses heretofore adopted by any village
board of trustees.