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<br />d. Cost of Transferable Development Rights Issued by Private Owners From Privately <br />Owned Sender Sites: <br /> <br />The price of TORs from approved privately owned sender sites shall be determined by the <br />private owners. <br /> <br />5. Section 265-23.5 <br /> <br />a. Development Limitations Upon Receiving Sites. <br /> <br />i. Within the Receiving Districts, development rights shall be limited by a <br />combination of the underlying zoning regulations, approved bonuses and <br />. allowable development rights transferable to the land in the receiving districts. <br />Notwithstanding anything to the contrary, and in accordance with the <br />Comprehensive Plan, neither the transferable density or intensity of permitted <br />uses shall Bet exceed thirty percent (30%) of the maximum residential density <br />permitted on the receiver site and in no case shall the resulting density bonus <br />increases on any given receiver site exceed the number of dwelling units <br />attainable on tbe sender site(s) under these plan provisions so as to assure no <br />net increase in City-wide residential dwelling unit Comprehensive Plan <br />capacities. Furthermore, the maximum amount of undeveloped floor area that <br />may be transferred from a sender site to a site within the Receiving District <br />shall not exceed (30%) of the receiving site based on the base floor area ratio <br />plus bonuses allowable at the time of the adoption of the Land Development <br />Regulations. <br /> <br />11. Parking and all other requirements of the LDRs shall be required m <br />accordance with any additional density acquired through the transfer of <br />development rights. <br /> <br />iii. All TDR's purchased or transferred shall be used within 24 months from the <br />date of rendition of the authorizing City Commission resolution, or all such <br />TOR's shall thereafter be fully extinguished. <br /> <br />iv. The transfer of development rights to a receiving site will not decrease <br />required open space, buffers, setbacks or cause a request for variances or any <br />other adverse impact to surrounding site or increase allowable height, if <br />applicable. <br /> <br />v. No property upon which a prior zoning approval was granted may apply for <br />transferable development rights unless a site plan application is made for the <br />entire site. <br /> <br />02004-193 Amendment to TDRs Sec. 265-23 <br /> <br />6 <br />