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232 <br /> 2005 Project Schedule <br /> ra sfer of pment ig J Feasibility Study: Overview <br /> Orange County is conducting a feasibility study of creating a Transfer of finished, County Commissioners will decide whether to proceed with <br /> Development Rights (TDR) program for its residents. A TDR allows developing a more detailed plan for creating a TDR program for <br /> y landowners to sell the future rights of developing heir property while Orange County. <br /> > w permitting others to build new development in areas that can best <br /> on support growth.Those people wishing to sell the future rights to develop Transfer of Development Rights (TDR) programs work by creating a <br /> O z° their property can continue to live, farnr, do any of the things that market for credits that are bought and sold by property owners and <br /> ti they would otherwise do with their land. ew development is directed developers. The three main concepts that must be understood are <br /> E away from farmland,water resource areas,important natural habitat sending areas,receiving areas,and TDR credits: <br /> J o and other places that the County and its citizens would like to see <br /> m <br /> conserved. Landowners in the areas receiving additional development Sending Areas are those areas that the County would like to see <br /> t can profit by the allowance of higher densities and hence more profit. protected and conserved in the future.This could be prime farmland, <br /> o ' <br /> Important tax base revenues from the development accrue to open space, forests, water supply watersheds, wetlands, historic <br /> H everyone in the County and allow the construction of more roads, places, or any other area that has important natural or man-made <br /> Cie parks, schools, water/sewer features.TDR programs were initially started <br /> N <br /> C E facilities, and other public in New York to protect historic landmarks, <br /> 0 0 <br /> Q m infrastructure without raising but are now being used by over 100 <br /> a o O a taxes-and in places where the municipalities and counties across the <br /> QQ new facilities are far less likely to country. Landowners in sending areas are <br /> mc ° O o o cause the need for more Sen allowed to continue using their land for the <br /> c > "' _o <br /> aai a o 0 0 - infrastructure in the future. rea same uses as long as development density <br /> C} N L) a Z ° is not increased; foregoing the ability to <br /> y p p <br /> -Water Supply Area t 'Q <br /> 0 m 0 o 0 Q 0 The County will appoint a $i s " increase density for development is <br /> ,., -Productive Farmland v <br /> -0 a c c c E E citizens'Task Force to work with m : Existing compensated through the purchase of TDR <br /> N g public services <br /> IL O C,C y -Natural Resource <br /> 0- a a a o its consultants to explore various •Developed edits. <br /> O O -Historic Resource <br /> o(D m m U a TDR options and prepare a -Excess Capacity � A w <br /> m m h h m h report on the feasibility of Receillh^eas arell lae.Mf IiU e <br /> a O a <br /> creating a TDR program in capacity to accommodate new <br /> LEGEND FOR MEETINGS Orange County. The public will C00development. In order to buildjat higher <br /> have two opportunities to learn densities than the current regulations allow, <br /> =Task Force Mee ti about TDR and provide input a developer must purchase TDR credits <br /> =Public Mee I�/qe sibility study. The obtained from a sending area landowner. <br /> ■ stu�should take 9-10 months This arrangement can allow transit and <br /> to Lor lete.Once the stud is other non-automobile modes of travel to <br /> P Y Landowners in Sending Areas receive financial compensation as they sell TDR <br /> credits to developers,who in turn use the TDR credits to build at higher densities work better in these areas as well as foster <br /> in Receiving Areas that can best accommodate new growth. revitalization. <br />