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TDR Transfer Roles: <br />- Allows voluntary TDR transactions in an open market between willing <br />sellers in the sending areas and willing buyers in the receiving areas <br />- Follows the "paired properties" transaction system to purchase value <br />from one or more sending area properties and transfer such value to a <br />receiving area property. <br />TDR CreditNalue System (Staff's Suggested Example) <br />- Sending area purchase price based on appraised market value in <br />dollars. The use of land market value as the exchange medium <br />means: <br />• Easy conversion to non-residential uses <br />• Simplifies the private negotiations <br />• No certificates or intangible property rights <br />Bonus Incentives for Receiving Area Density Increases: <br />- Development proposal <br />- Affordable housing <br />- Smart Growth principles <br />- Energy efficient design <br />- Historic properties <br />Sending Area Prioritization and Participation System Options Either: <br />1. In all cases participation is voluntary <br />2. Entire rural area, outside of receiving areas <br />3. Limited area based on higher development pressures <br />4. Limited area based on higher environmental and farm preservation criteria. <br />Receiving Areas, based on areas designated on the Land Use Element of the <br />Comprehensive Plan: <br />- Transition areas <br />- Rural Community Nodes <br />- Economic Development Districts <br />Administrative Process <br />County Planning and amulti-departmental team staff review and <br />approval of both the sending area conservation easement and <br />receiving area plan <br />Note: Planning Board, BOCC, and other advisory boards and <br />commissions shall develop energy efficient design, smart growth <br />principles, and affordable housing criteria <br />Future Contractual Events <br />- 6th Task Force meeting in May or June to discuss the economic <br />feasibility model. <br />- 2nd Public Meeting in June with BOCC. <br />- BOCC to consider Phase 3 {TDR Program Design and Ordinance <br />Development) advisability. <br />