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Draft 10/8/99 <br />In addition to these provisions, the potential for. transfer of <br />development rights (TDR) and purchase of development .rights <br />(PDR) programs has .been discussed frequently over the past <br />decade. Because of the comp/exities in addressing <br />acquisitions of this nature, it is recommended that ERCD <br />and P/anning'staffs joint/y deve%p aPara//e/ program .for <br />acquisitions over .the next. three months (addressing TDR <br />and PDR possibi/ities) through-the deve%pment process - <br />for inc/union in the Lands Legacy program, <br />E. Life-Lease Agreements <br />A life-lease.. agreement may be structured as part of afee-simple. <br />transaction, .where the landowner sells their land, but retain via <br />deed/covenant the right. to remain on -the land for a specified <br />duration of time agreeable to both parties. This date can be fixed in <br />time, or can r•un -with the- lifetime of .the selling parties (hence the. <br />commonly-used name herein). This tool is often attractive to <br />longtime, elderly landowners that wish to spend the rest of their <br />lifetime on their land. <br />The provisions of sale must clearly define the terms of the Life- <br />- lease, and may address topics such as alterations/changes to <br />structures and use of the land, if desired. Problems inherent with <br />this type of arrangement, if any, often result from unclear <br />provisions of the type above. <br />F. Timber Rights and Other Easements <br />Easements are legal agreements between the buyer and seller, and <br />as such may be written to address a wide variety of topics. Other <br />types of easements can be developed as needed if the County <br />wishes to allow some development of a property containing an <br />easement. Other possible uses .may be addressed through an <br />easement. <br />In addition. to buying the rights to develop the property, the rights <br />to timbering the properly may also be purchased. This tool could <br />be used in cases where visual resources are of a critical nature, or <br />on pieces adjoining .important natural areas to preserve a forest <br />buffer. Timber rights can often be purchased for considerably less <br />cost- than fee-simple or easements that restrict development <br />potential. <br />30 <br />