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<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 the 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 Land Development Regulations in <br />effect at the time of application. <br /> <br />(ii) Parking and all other requirements of the LDRs shall be required in <br />accordance with any additional density acquired through the transfer of <br />development rights. If a property owner of a Receiver Site avails itself of <br />the parking buy-down provided in Section 265-46A(2) (b), that <br />calculation shall be made on the base zoning plus bonuses but shall not <br />include TDRs. <br /> <br />(iii) All TDR's purchased or transferred shall be used within 24 months from <br />the date of rendition of the authorizing City Commission resolution, or <br />all such TDR's shall thereafter be fully extinguished and there shall be <br />no refunds from the City. <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 <br />any other adverse impact to surrounding site or increase allowable <br />height, if applicable. <br /> <br />(v) No property upon which a prior zoning approval was granted may apply <br />for transferable development rights unless a site plan application is made <br />for the entire site. <br /> <br />(vi) In no event shall a site plan on a Receiver Site be approved with any <br />structure exceeding 550 feet in height. <br /> <br />02004-218 Amd TORs -- Sec. 265-23 <br /> <br />7 <br />