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STRATEGIC GROWTH AND RESOURCE CONSERVATION PROGRAM <br />Final (8.7.2009) <br />Option <br />F• r <br />Again <br />8. Allow Commercial <br />• Provides a means for <br />i Existing codes' volume <br />Development Credits* <br />potential rural residential <br />restrictions difficult to <br />Should Orange County relax <br />density to be converted <br />calculate and <br />restrictions on parking, open <br />to urbanizing area <br />translate into a density <br />space, building height, <br />commercial <br />bonus <br />setbacks, or other requirements <br />development, allowing <br />- Existing codes provide <br />to encourage commercial <br />more density to be <br />little restriction on <br />development in Growth Areas <br />absorbed than just <br />commercial <br />instead of only allowing <br />relying on residential -to- <br />development intensity <br />residential -to- residential SGRC <br />residential transfers <br />vs. current market <br />transactions? <br />• Easier to justify later <br />demand <br />once the program is <br />!i Open space <br />established and if /when <br />requirement is most <br />municipal participation <br />obvious one to be <br />occurs <br />exchanged for <br />Conservation Points, <br />but there's no gain to <br />the County for trading <br />open space needed <br />to keep commercial <br />development livable in <br />urbanizing areas for <br />open space needed <br />to keep rural areas <br />from being developed <br />9. Formula for Commercial Use <br />■ Provides certainty to <br />Difficult to monetize <br />of CPs in Growth Areas* <br />developers that credits <br />value of lifting <br />Should Orange County create a <br />translate to a defined <br />restrictions, as it may <br />formula that equates CPs to <br />degree of change in <br />change from site to <br />degree or amount of relaxed / <br />other restrictions / <br />site or project to <br />lifted restrictions instead of <br />requirements <br />project <br />negotiating each commercial <br />project's development intensity <br />bonus? <br />*Note: This applies to Economic Development Districts (EDD) and other, possibly future overlays and zones where <br />commercial development is allowed. <br />ORANGE COUNTY, NORTH CAROLINA <br />