Agenda - 06-27-2006-7b - Laserfiche WebLink

Browse Search

Orange County Transfer of Development Rights Feasibility Study DRAFT Economic Feasibility Report The balance of supply and .demand in a TDR program is a critical step in structuring a successful program, The supply and demand is a direct result of the key elements of the program: Sending and Receiving Area locations and sizes; density bonuses; TDR allocation rates; and other factors, An analysis was performed of the supply and demand from the three Sending and Receiving Area scenarios developed by the TDR Task Force (see Figure I, and results are shown in Table 1,) The results can vary significantly depending on the TDR allocation rates, density bonus, and expected participation rate used. For the analysis, a spreadsheet model was designed to facilitate different "what if" scenarios reFlecting the different values for the key variables, These assumptions can be altered to develop three or more alternatives that demonstrate different objectives or assumptions. This will generate feedback and assist in selecting the preferred alternative, The assumptions are defined later and shown in Table 2. Figure 1. Receiving (1) and Sending Area (3) Scenarios. ~~ ~ ~ ~~«~ -- y ~ ]~ a ~' i RECEIVINGAREA $ENDINGAREA Z Y ~` :: t v l ~;, l 'S...+~~ V"i •t3;'. .. r3 fw J' <.x , r~ 5 ;:",y ,. ,?.y`ti I ;. $ENOINGAREAB Methodology The amount of eligible sending area credits in the three different scenarios was calculated using parcel-level tax data, zoning designations, and maps of the sending areas. Utilizing GIS, these three different data layers were combined to form a descriptive database of the properties within the sending areas. The properties with development potential were then selected. These properties are either vacant or consist of one structure located on a parcel that is large enough to be subdivided into additional lots (e,g., one house on a 100-acre property), Once these properties were selected, a TDR allocation rate of one TDR credit per acre was applied to estimate the total TDR supply, The expected TDR demand was calculated in the spreadsheet model in multiple steps. Using the GIS parcel database, the properties in the receiving area with developable area were selected. These properties were either vacant or had one structure with additional land that could be subdivided, The next step was to categorize these properties by zoning district and calculate the maximum allowable density as of right, 15 67.2006 .SENDlNGARFA 1