Ordinance 2004-218 - Laserfiche WebLink

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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, if only a portion of the development rights attributable to a Sender Site is transferred to a receiving site, the remaining development rights may be deposited in a TDR Bank in accordance with the provisions of this section. 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. 3. 265-23.3 Establishment of Sending and Receiving Sites; TDRs Transferred; Fees. a. Establishment of Sender Sites. Any property in any zoning district, upon the approval of the City Commission, in its sole discretion, after a public hearing, may be eligible as a sending site, subject to the terms, conditions and limitations of this Ordinance. b. TDRs transferred from City Owned Sender Sites. Upon the adoption of this Ordinance, 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 for distribution and transfer in accordance with all of the procedures and limitations of this ordinance except the five year limitation set forth in Sec. 23.3 c.(5) below and specifically as limited by the following: ill All monies received by the City in connection with the transfer of development rights from City-owned sites shall be utilized for capital outlays and improvements only. (2) In no case shall the transfer of any TDR's from a City Owned Site currently designated as park sites interfere with the use of those public parks and said parks shall forever remain as public parks. (3) TDRs may not be transferred from any parks that existed within the boundaries of the City on the date of the City's incorporation, provided however, TDRs from properties acquired by the City subsequent to the date of incorporation and which were or will be developed and utilized as parks shall be calculated based the underlying zoning existing at the time of the City's acquisition of said parks, and may be severed and transferred from those such sites acquired by the City to the TDR Bank for subsequent sale or use by the City. 02004-218 Amd TDRs -- Sec. 265-23 3