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(A) In conformance with the City of Lake Mary Comprehensive Plan, Future Land Use Element, Objective 3, Policy 3.4, Objective 9 and Policy 9.3, the city establishes the Transfer of Density Rights (TDR) Program. The intent of the TDR Program is to promote development and redevelopment within the downtown by allowing for the transfer of unused residential units from city-owned properties (sending sites) to privately owned properties (receiving sites) within the downtown.
(B) Nothing herein shall prevent the City Commission from exercising its legislative authority to change the zoning or land use designation on property within the corporate limits of the city, including those parcels designated as sending or receiving sites under the ordinance from which this section derives. Subsequent rezoning or comprehensive plan changes of a receiving site may reduce or extinguish transferred development rights.
(Ord. 1458, passed 4-5-12)