"Housing fiscal impact" means increased or decreased costs that a housing development would incur as a result of an official control adopted or amended by a municipality after August 1, 2002, that adds to or changes the regulation of the location, height, width, bulk, type of foundation, number of stories, size of buildings and other structures, percentage of the lot occupied, size of yards and other open spaces, density and distribution of population, uses of buildings, or design of residential housing in a municipality that has adopted the State Building Code and is located in a county with a population of 30,000 or more.
The responsible municipality may prepare a housing fiscal impact note prior to the public hearing on the proposed adoption or amendment of an official control.
The housing fiscal impact note may:
(1) estimate in dollar amounts the increase or decrease in the costs as a result of the municipal proposed action;
(2) specify long-range implications of the proposed action;
(3) describe appropriate alternatives to the proposed action; and
(4) discuss the rationale for the proposed change.