When entitling a property, it's imperative to understand the value of that entitlement so you can properly analyze the opportunity. Unfortunately there is no set in stone rule, but here's my attempt at it. Feel free to ask questions or poke holes in it. Hoping that this prompts some thoughtful comments.
Entitlement Value= Residual Land Value (RLV) - Comparable Land Value (CLV).
Hint: First question should be.....how do you determine RLV.
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