Agenda - 11-21-2016 - F-1 - Laserfiche WebLink

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II 233 ra sfer of K lopment Feasibility Study: Overview 2005 Project Schedule Orange County is conducting a feasibility study of creating a Transfer of finished, County Commissioners will decide whether to proceed with Development Rights (TDR) program for its residents. A TDR allows developing a more detailed plan for creating a TDR program for y landowners to sell the future rights of developing,iheir property v Orange County. > w permitting others to build new development in areas that can Is a -c', ' a o n support growth.Those people wishing to sell the future rights to develop Transfer of Development Rights (TDR) programs work by creating a O Z their property can continue to live, farr,r do any of the things that market for credits that are bought and sold by property owners and ti they would otherwise do with their land. ew development is directed developers. The three main concepts that must be understood are E away from farmland,water resource areas,important natural habitat sending areas,receiving areas,and TDR credits: 0 o and other places that the County and its citizens would like to see conserved. Landowners in the areas receiving additional development Sending Areas are those areas that the County would like to see t can profit by the allowance of higher densities and hence more profit. protected and conserved in the future.This could be prime farmland, Important tax base revenues from the development accrue to open space, forests, water supply watersheds, wetlands, historic H everyone in the County and allow the construction of more roads, places, or any other area that has important natural or man-made Cie parks, schools, water/sewer features.TDR programs were initially started N oo facilities, and other public in New York to protect historic landmarks, 0- m infrastructure without raising but are now being used by over 100 c O a taxes-and in places where the municipalities and counties across the Q c � new facilities are far less likely to country. Landowners in sending areas are m a� o O a o cause the need for more allowed to continue using their land for the oo a U o o infrastructure in the future. ° same uses as long as development density .A o;n w} N a Z is not increased; foregoing the ability to U N O O O -Water Supply Area ;a m Q p The County will appoint a increase density for development is -Productive Farmland a° E citizens'Task Force to work with compensated through the purchase of TDR o U c,C D -Natural Resource m ' Existing public services 0 0 p} h its consultants to explore various ......••••••. O O d d ,� ~ N p -Historic Resource -Developed edits. 0 m m c U a TDR options and prepare a -Excess capacity .� m m h h m h iv report on the feasibility of ReceNlh^rA oi1lace�4f IiD he D D a 0 a creating a TDR program in capacity to accommodate new LEGEND FOR MEETINGS Orange County. The public will C00development. In oeer to build at higher have two opportunities to learn densities than the current regulations allow, =Task Force I about TDR and provide in ut a developer must purchase TDR credits =Public Mee Cul e�i 'ty study.43e obtained from a sending area landowner. should take 9-10 months This arrangement can allow transit and to lete.Once the stud is other non-automobile modes of travel to P Y Landowners in Sending Areas receive financial compensation as they sell TDR credits to developers,who in turn use the TDR credits to build at higher densities work better in these areas as well as foster in Receiving Areas that can best accommodate new growth. revitalization.