(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.