8.4.B. PRSR 03-08-2006 - Laserfiche WebLink

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Transfer of Development Rights Program Draft, revise l August 3, 2005 Purpose: The purpose of Elk River's transfer of Development Rights (T'DR) Program is to provide a voluntary, incentive-base process for permanently preserving rural open space within the City's corporate limits. Open space provides opportunities for wildlife habitat, aesthetic value, and preservation of unique natural features and resources. The TDR is intended to encourage residential development on parcels void of unique natural resources, steep slopes or other cultural resources. Eligible Parcels: Eligible pazcels must be located in the R1a (Single Family Residential) or Al (Agricultural Conservation) zoning districts. If zoned Rla, eligible parcels must be 5 acres or larger, and if zoned Al, must be 20 acres or larger. Parcels eligible to receive development credits shall also be zoned either Rla or Al. At the City's discretion, property owners in other residentially zoned districts maybe allowed to participate in the TDR program. Development Credits: Development credits will be calculated based on the zoning district density. For example, in the Rla district, a parcel of 40 acres net (after deductions for County right of way and Type 3, 4, or 5 wetlands greater than 1 acre) will yield 16 development credits. The same parcel in the Ai district would yield 4 development credits. Properly owners may sell their development credits in phases, but in no case will development credits be sold more than once. If the parcel contains a residential housing unit, one development credit must be maintained for that parcel. Development Restrictions: Following the transfer of development credits from a pazcel, deed restrictions documenting the transfer and limiting development and further transfer shall be recorded at Sherburne County. To further prevent development, a conservation easement shall be placed over the parcel in favor of an appropriate land trust or the City of Elk River. Process: The City's TDR Program is voluntary. The Ciry will maintain a list of property owners willing to sell their development rights and provide them to developers as requested. The value of the development credit will be negotiated between the property owner and the developer. The applicant for a subdivision in the Rla or Al district wishing to use development credits from another parcel must, as part of the subdivision application, provide a negotiated purchase agreement for the development credits, a draft conservation easement for the parcel, and a draft deed restriction for the parcel.