Ordinance 2005-230 - Laserfiche WebLink

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anything to the cOFltrary, the property owner conveying the approyed Sender Site shall have up to five (5) years to litilize such de'ielopment rights iFl aecordaFlee with Section 3 c. (5) hereiFlabove. It is linderstood that the development rights to be transferred to a receiving site shall be approyed by the City Commission through the site plan approval process as specified herein and as otherwise proyided in this Section 265 23. 2. No Receiver Site, or site plan on that Receiyer Site, may be approyed by the City Commission ooless a Sender Site has been first been identified and approved by the City Commission, or the o....mer of the Receiver Site commits to purchase TDRs from the City iFl accordance with SeetioFl 265 23.1 above, or the o",mer of the Receiver Site commits to purchase TDRs already deposited in the TDR Bank from a pri'iately owned Sender Site. The formal approval by the City Commission of the transfer of the TDRs ':;nether from a privately owned Sender Site, City ovmed TDRs or TDRs from a privately ovmed Sender Site, already deposited in the TDR Bank, shall occur simultaneously ',vith the approval of the Receiver Site's site plan although the actual transfer may occur later but iFl no event may a bliildiFlg permit on the Recei'.'er Site issue until sueh traFlsfer has acrnally oeeurred and been doeumel'lted as pro'/ided hereinbelo'.v. doc. _Cost of Transferable Development Rights Issued by Private Owners From Privately Owned Sender Sites.:f The price of TDRs from approved privately:-owned Sender Sites shall be determined by the private owners. 5.Seetion 265 23.5 a. De~/elopment Limitations Upon Reeeiving Sites. (i) 'Nithin the Reeeiving Districts, development rights shall be limited by a combiaation of the l:lFlderlying zOFling regulations, approved bonuses aFld allowable de'ielopment rights transferable to the land in the Receiving Districts. Notv/ithstanding aFlything to the contrary, and in aceordance with the Comprehel'lsive Plan, neither the transferable density or intensity of permitted uses shall not exceed thirty percent (30%) of the maximlim residential density permitted Ol'l the Receiver Site and in FlO case shall the resulting density bOffils increases on any given Receiver Site exceed the number of dwelliRg units attaiFlable on the Sender Site(s) under these plan pro'/isions so as to aSSlire RO net iFlcrease in City wide residential dV/elling unit Comprehensive Plan eapacities. Furthermore, the maximum amount of undeveloped floor area that may be transferred from a Sender Site to a site within the Receiving District shall not exceed (30%) of the receiving site based on the base floor area ratio plus bonuses allo'Nable at the time of the LaRd De'.'elopmeFlt Regulations in effect at the time of application. 02004218 Ama TORs See. 265 23U:\Citv Clerk\Ordinances\Orafts\Oraft 02005- TOR Amend 02004-218 Marked 10 2nd Rdg.docU:'u'\TTORNEY\:\ssieflments\2005\A05 Reyisions to Orainanee ~Je 2001 218 (TOR Or<linaneel\w02 TORamenaedordinianee eaanges 5 9 OS SRelley.doeC:\Ooetlments and Settinl!:s\snelley\Leeal Settings\Tsnworary Internet Files\OLK98\w02 TORamendeaordinianee eRangeS 5 9 QS.docU:\.'\TTORNEY\f.ssigHHlents\200S'u'\OS Revisions to Orainance No 2001 218 (TOR Orainaneel\w02 TORiiffisndedordinianee eflanees ENW S S 05.doeC:\Ooeuments and Settings\Homel '-My OOCl:Il1'H"flts\Shelley\TORamendedorainiance eRanges.aoe