Agenda - 11-27-1995 - C-6 - Laserfiche WebLink

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252 Section G DENSITY BONUSES The maximum number of building lots or dwelling units in a Flexible Development shall not exceed the number that could otherwise be developed by the application of the minimum lot size requirement and/or density standard of the zoning district or districts in which the parcel is located. However, increases in the number of building lots or dwelling units are permitted through one or more of the following options: GA To Encourage Additional Open Space A density increase is permitted where more than thirty-three percent (33%) of the total land area in the Flexible Development is set aside as protected open space. The amount of the density increase shall be based on the following standard: For each additional acre ofprotected open space provided in the Flexible Development, one(1) additional building lot or dwelling unit is permitted. In lieu of providing additional open space in the Flexible Development,the applicant may purchase in fee simple or less than fee(e.g., development rights)land separate from the Flexible Development which is comprised of Primary and/or Secondary Conservation Areas as defined in Section B.2. Land purchased in fee may be dedicated to Orange County, another unit of local government, the State of North Carolina or a private non-profit land conservancy. For land purchased in less than fee,a conservation easement shall be recorded which restricts the development potential of the land. The conservation easement shall be dedicated to Orange County,another unit of local government,the State of North Carolina or a private nonprofit land conservancy. G.2 To Encourage Affordable Housing A density increase is permitted where the Flexible Development provides on-site or off-site housing opportunities for low or moderate-income families. The amount of the density increase shall be based on the following standard: For each affordable housing unit provided in the Flexible Development, one(1)additional building lot or dwelling unit is permitted. Affordable housing is defined as units to be sold or rented to families earning less than the Orange County median income, adjusted for family size, as determined by the U.S. Department of Housing and Urban Development. In lieu of providing affordable housing units in the Flexible Development,the applicant may donate to Orange County land separate from the Flexible Development with suitable soils or access to public water and sewer for the purpose of developing affordable housing. The donated land shall contain at a minimum the land area needed to develop the total number of bonus units in accordance with the zoning requirements of the district in which the donated land is located. G.3 To Encourage Maintenance Endowments The County may allow a density bonus to generate additional mca me to the applicant for the express purpose of endowing a permanent fund to offset continuing open space maintenance costs. Spending from this find would be restricted to expenditure of interest,in order that the principal may be preserved.Assuming an average interest rate of five(5)percent, the amount designated for the Endowment Fund should be twenty(20)times the amount estimated to be needed on a yearly basis to maintain the open space. On the assumption that additional dwellings, over and above the maximrmm that would ordinarily be permitted on the site,are net of development of development costs and represent true profit, 75 percent of the net selling price of the lots should be donated to the Open Space Endowment Fund for the conservation lands within the subdivision. Such estimates should be prepared by an agency or organization with experience in open space management acceptable to the County. This fiord shall be transferred by the developer to the designated entity with ownership and maintenance responsibilities, such as a homeowners' association, a land trust, or a unit of local government. Flexible Development 38