Resolution LPA 2004-24 - Laserfiche WebLink

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The owners, successors, heirs or assigns of approved sender site will be permitted to bank, in accordance with section 265-23.7.2 hereunder, any Development Rights from the sender site for a five (5) year period from the date of the City Commission meeting at which the subject site was approved as a sender site. At the expiration of the five (5) year period, the TDR's from the approved sender site shall expire and become extinguished and unusable. d. Establishment of Receiver Sites: All property within the Town Center, Business District abutting Collins Avenue and the Mixed Use High Density/Resort zoning districts are herewith established as Receiver Districts. Receiver Sites (also referred to in this Section 23 as "receiving sites") may be developed as otherwise permitted by the Land Development Regulations, as may be amended from time to time, in combination with the development rights available to the site, provided that the overall density achieved is consistent with, and does not exceed, the overall density and intensity allowable by the Comprehensive Plan and subject to Section 265.23.5 hereinbelow. If an approval was granted prior to the adoption of this Ordinance, pursuant to which a permit has been issued, that site shall not be available as a Receiver Site, unless the prior approval is revoked or abandoned by the Applicant and a new development order is secured hereunder. e. Fees. Application fees for consideration of applications for establishment of Sender Sites and Receiver Sites and for TDRs shall be established by the City Commission. The applicant shall be responsible for all applicable application fees. Hiring of consultants to review data including engineering, planning, legal, appraisal, technical or environmental issue, shall be chargeable to the applicant in accordance with Ordinance No. 2001-132. 4. 265-23.4 Calculations. a. Transferable Development Rights from City owned Sender Sites: In the case of City owned sites, calculations will be based on the zoning permissible at the time of incorporation and prior to the City's acquisition of the site for public purposes. The square footage of a transferable development right for a unit shall be calculated and determined by dividing the permitted floor area of the sending site by the permitted density on said sending site. Only whole units may be purchased and transferred to the receiving site. The foregoing, however, is subject to all limitations set forth herein and in the City's Comprehensive Plan. b. Cost of Transferable Development Rights from City owned Sites: 1. Appraisal. At the time of approval of the TDRs, the City Commission may consider the acceptance of the appraised land value for the receiving site as follows: the cost for a square foot of development right shall be determined by the market value of the Receiver Site as determined by a current real estate appraisal (updated no more than three months from date 02004-218 Amd TDRs -- Sec. 265-23 5