Resolution LPA 2005-29 - Laserfiche WebLink

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anything to the contrary, the property owner conyeying the approyed Sender Site shall have up to fi';e (5) years to utilize such development rights in aeeordanee with Section 3 c. (5) hereinaboye. It is lmderstood that the deyelopment rights to be transferred to a receiving site shall be approved by the City CommissioN through the site plan approval process as specified herein and as othenvise provided in this Section 265 23. 2. No Recei'.'er Site, or site plan on that Receiver Site, may be approved by the City Commission unless a Sender Site has been first been identified and approved by the City Commission, or the owner of the Receiver Site commits to purchase TDRs from the City in aecordance \yith Section 265 23.1 aboye, or the owner of the Receiver Site commits to purehase TDRs already deposited in the TDR Bank from a privately oymed Sender Site. The formal appro'ial by the City Commission of the transfer of the TDRs y:hether from a privately o'.vned Sender Site, City owned TDRs or TDRs from a pri'iately ovmed Sender Site, already deposited iN the TDR Bank, shall occur simultaneously with the approval oftae Reeeiver Site's site plan although the actual transfer may oecur later but in no event may a building permit on the Receiver Site issue until sl:1ch transfer has aotually oocurred and been dOt1l:1mented as pro'/ided hereinbelov:. the. _Cost of Transferable Development Rights Issued by Private Owners From Privately Owned Sender Sites:.;. The price of TDRs from approved privately:-owned Sender Sites shall be determined by the private owners. 5.8eetion 265 23.5 a. De~/elopment Limitations Upon Reeeiving 8ites. (0 V/ithin the Receiving Distriots, development rights shall be limited by a combination of the underlying zoning regulatioNs, approved bOfll:lses and allowable development rights transferable to the land in the Receiving Districts. Notwithstanding anything to the oontrary, and in accordance with the Comprehensi'/e Plan, neither the transferable density or intensity of permitted uses shall NOt exceed thirty percent (30%) of the maximum residential density permitted on the Receiver Site and in no case shall the resulting density bonus inoreases ON any given Receiver Site exceed the number of dv,'elling units attainable on the Sender Site(s) under these plan provisions so as to assure no net increase in City wide residential dVielling unit Comprehensiye Plan capacities. Furthermore, the maximum amount of undeyeloped floor area that may be transferred from a Sender Site to a site within the Receiving District shall not exoeed (30%) of the recei'/ing site based on the base floor area ratio plus bonuses allo'.'lable at the time of the Land Development Regulations in effect at the time of application. 02004 218 Amd TDRs See. 265 23U :\Citv Clerk\Ordinances\Drafts\Draft 02005- TDR Amend 02004-218 Marked 10 2nd Rdg.docU :'u\ TTORNEY'u^.ssignments\2005t\05 Revisions te Ordiflaflee No 2004 21 g (TDR Ordinancel\w02 TDRamenaedordiniance changes 5 9 05 8helley.doeC:\Documents and 8ettings\shelley\Local 8ettines\TemaerefY Internet Files\OLK98\w02 TDRamendedorainiaflee changes 5 905.docU:'u\ITOR.'\IEYV.ssienmentG\20Q5'u\,05 Revisions to OrdiaBnee No 2004 218 (TDR OrdinBnee)\w02 TDRamendedordiniBnce elumees El'PN 5 5 05.doeC:\Doel:lments and 8ettines\Home 1 \M y DoeHn~eflts\8flelley\TDRamendedordiniBnce changes.doc