Resolution LPA 2005-29 - Laserfiche WebLink

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park may not be treated as a Sender Site as defined herein and no transferable development rights may be calculated and transferred therefrom. Sever: The removal of a development right from property rights possessed by an owner of real property, The term connotes a removal or separation, in perpetuity, as distinguished from a restriction or limitation, which may be overridden, deleted or is subject to a time frame. Transferable Development Rights: A development right is an appurtenant right of land ownership that has an economic value separate from the land itself, subject to reasonable regulation by local government under its police power, and that may be transferred from the land from which the right is severed (Sender Site, also referred to in this Section 265 23 as "sending site") to another piece of land (Receiver Site, also referred to in this Section 265 23 as "receiving site"). Once severed, all TDRs are technically deemed deposited in the TDR Bank but thereafter, if only a portion of the development rights attributable to a Sender Site is transferred to a RFeceiverffig ,Ssite, the remaining development rights may be remain deposited in a TDR Bank in accordance with the provisions of this section Ordinance. Transferable Development Rights means the maximum floor area ratio (square footage) and density (dwelling units) exclusive of variances that would be permitted to be transferred by the property's zoning on the date of the transfer approval which will be calculated and allocated by a formula developed by the City. These rights are sometimes referred to herein as "TDRs:. TDR Bank: The record maintained by the City for the deposit and withdrawal/purchase of TDRs. 3. 265-23.3 Establishment of Sending Sender and Reeeiving Sites.:t TDRs Transferred; Fees. a. a.----Establishment of Sender Sites. Any property in any zomng district, upon the approval of the City Commission, in its sole discretion, after a public hearing, may be eligible as a ,Ssending ,Ssite, subject to the terms, conditions and limitations of this Ordinance~ a. b. b. _TDRs Ttransferred from City:-Owned Sender Sites. Upon the adoption of this Ordinance, the The City shall deposit all development rights (in terms of square footage and dwelling units) from its Sender Sites as they are defined hereunder in the TDR Bank 02001218 Ama TDRs See. 265 23U:\Citv Clerk\Ordinances\Drafts\Draft 02005- TDR Amend 02004-218 Marked 3 2nd Rdg.docU:'u^. TTORNEY\Assilntments'2005Iu^.05 Revisions te Ordinance No 2001 218 (TDR OrdiaaHee)\.,.,02 TDRamendedofdiaiaaee changes 5 9 05 Sbellev.docC:\Documents and Settings\shellev\Loeal Settines\Temoorarv Internet Files\OLK98\w02 TDRamenaedortiinianee changes 5 905.60CU:\f.TTORNEY\Assignmeflts\2005Iu\05 Rc';isions 10 Or.ainance No 2001 218 (TDR Ordinanee)\w02 TDRameHdeaerdinianee ehanges EN'^, 5 5 05.decC:\Docl:lmenls and Settings\Heme 1 \My Docml'ltJflts\8bellev\TDRameadederdini'aaee ekanges.doc