Report Outlines Green Incentives for Building Owners and Governments

Source: Norsteel Building.

The National Association of Counties (NACo) and the American Institute of Architects (AIA) recently published a report entitled Green Building Incentive Trends: Strengthening Communities, Building Green Economies. The guidebook outlines the steps local governments have to make in order to further the construction of green buildings. The primary thrust of the guidebook is to recommend “green incentives” that will inspire construction firms and building owners to invest more on green buildings.

For the private sector, the report indicates that among the best incentives are density bonuses, tax breaks, and expedited permitting. Density bonuses and tax breaks provide a direct financial incentive to companies putting up green businesses.

When a building owner has a positive green building rating, they are allowed higher densities, more floor/area ratio and increases in height. Tax breaks are given to building owners as long as they conform to certain government-approved green construction practices. In addition to this, expedited permitting means that companies can speed up the process of putting up their own building as well as getting around certain rules without unnecessary interference from the government.

However, local governments should by no means impose green incentives excessively as it is costly to grant developer bonuses. While green building does benefit everyone in the long run, incentives should be given depending on the financial situation and the projected impact to the building industry.  Governments must have a sustainable economic plan in order to strategically motivate the construction of green buildings.

The most important factor for an effective policy related to green construction is to make it simple to the public and easy to implement. To avoid confusions and unnecessary delay, the policy must clearly present the direct benefits to building owners.

The report comes at a time when green construction is at its peak and local governments can give enough encouragement for building owners to step up to the challenge.

Norsteel is the kind of building company that can help to facilitate the green building process. Talk to us about an environmentally sound pre-fabricated steel building.

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