(A) Purpose. The purpose of this subchapter is to encourage private land development which implements the orderly growth in the town, and preserves, protects and conserves natural and human-made resources.
(B) Intent. The intent of this subchapter is to encourage development where adequate infrastructure can be provided, while conserving those areas of environmental sensitivity which afford the natural, renewable resources that are vital to the vitality and well-being of the town.
(C) Method of compensation. The method of compensation contemplated for this subchapter is to grant private land owners additional densities in the form of transferable residential dwelling units in exchange for their timely and orderly donation of lands needed by the town for beneficial and aesthetic public purposes, such as conservation, preservation, open space, parks, outdoor recreational uses or other public purposes.
(D) Procedure for transfer. A landowner who desires to take advantage of the benefits available under this subchapter shall make application to the town specifying the controlled parcel, the benefitted parcel and the development rights intended for transfer. Proof of ownership of the land areas involved, legal description or other identification of the parcels and a description of the public benefit to be derived by the town as a result of said transfer shall be stated in sufficient detail for a clear understanding of the proposal. The town may request the landowner to donate lands which it deems desirable for public purposes. The Zoning Official shall review and evaluate all such proposals, and shall confer and negotiate with the applicant to obtain revisions to the proposal which conform to the spirit and intent of this subchapter and shall submit same, with staff recommendations, for the consideration and action of the Planning and Zoning Board and the Town Council. The final approval of a transfer of development rights shall be implemented by a town ordinance.
(E) Vesting of rights. An ordinance transferring development rights as to specific parcels of real estate shall vest specific and identified rights enumerated in said ordinance in the name of the owner or owners of the benefitted parcel until the specific application for use thereof is made by said owner to the town, and is so granted and approved by the town. Such rights may be transferred by the owner to the grantee in a conveyance of the benefitted parcels.
(F) Limitations on use of transferred rights. Written application for use of transferred development rights must be made by the owner to the town. The Town Council shall have the right of approval or denial thereof, subject to the terms, provisions, conditions and restrictions of this subchapter or to special conditions which may be imposed and contained in the implementing ordinance granting the specific transfer approval.
(G) Maximum allowance limited to 25%. An application for the transfer of development rights shall be limited exclusively to the benefitted parcels specified therein, and may include all or part of such rights as they relate to a land development site. A transfer shall not be applied which exceeds the density under the current development regulations by more than 25%. The determination of any such deviation to be applied to the benefitted parcel shall be specified in the land development approval process by the town. If the gross area of the benefitted parcel contains portions which are considered non-buildable, then, for the purpose of determining the 25% maximum bonus application to such site, the computation shall be based solely upon the net buildable area.
(H) Continuation of rights. Any transfer of development rights which remain unused by the owner thereof after application to a specific land development application shall continue to be valid and enforceable rights of the owner, and applicable to any further or future application requests, without time limitation until so used, provided however, that such right can only be used or applied to the benefitted parcels as contained in the ordinance granting specific transfer approval.
(Ord. 1-90, passed 1-31-1991)