The TDR Program allows a property owner to achieve a density bonus by purchasing dwelling units from the City of Lake Mary TDR Bank without going through the land use amendment process. Once a property has donated all or a portion of its residential units, such dwelling units are no longer available for development on donating property. Because the donation sites forego their ability to develop residentially, the density cap within the DDD land use designation of 18 dwelling units per acre (DU/A) is not exceeded.
(Ord. 1458, passed 4-5-12)