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54 <br />Section IV-B-10, Subsection C Open Space Standards is rewritten to read as follows. <br />Section C OPEN SPACE STANDARDS <br />C.3 Ownership of Open Space <br />Open space within a Flexible Development may be owned and/or administered by any <br />of the following methods, either individually or in combination. All open space shall be <br />permanently restricted from further subdivision. <br />• Fee simple dedication to Orange County, another unit of local government, the <br />State of North Carolina or a private non-profit land conservancy. <br />• Dedication of conservation easements to-flrange County, another unit of local <br />govemment, the State of North Carolina or a private non-profit land conservancy. <br />Such easements may apply to a single property owned by a homeowners <br />association and/or to all or portions of individual lots owned by one or more <br />property owners. <br />• Ownership by a homeowners association where specific development restrictions <br />and maintenance requirements are included as part of its bylaws and as <br />irrevocable articles of restrictive covenants. <br />Ownership by individual property owners, of estate lots only, where specific <br />development restrictions and maintenance requirements are included as part of <br />restrictive covenants and/or permanent conservation easements applicable to <br />such lots. <br />Where conservation easements have been dedicated prior to application for approval of <br />a Flexible Development proposal, the land subject to the easement may be counted <br />toward satisfying the thirty-three percent (33%) open space requirement provided it is a <br />portion of and in the same ownership as the land to be subdivided. <br />