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<br />no more than 24 units per acre using a <br />granting zone's open space as a receiving <br />zone's open space and increasing the <br />receiving zone's density as an incentive <br />bonus as follows: <br /> <br />306.01.01 The granting zone and receiving <br />zones' areas are added together. <br /> <br />306.01. 02 The open space (the granting <br />zone area) percentage of the total <br />area of the granting and receiving <br />zones is calculated. <br /> <br />306.01.03 For each percentage point of the <br />total area of park or open space, a 2 <br />percent increase or bonus to the <br />receiving zone's base density may be <br />allowed, where the receiving zone's <br />base density shall be the maximum <br />density authorized by the receiving <br />zone's existing zoning district <br />before the transfer, but not to <br />exceed 20 units per acre. <br /> <br />Example. Receiving zone: Area is 10 <br />acres; the area is zoned MF-2 with a <br />base density of 12 units per acre or <br />120 dwelling units. <br /> <br />Granting zone; Area is two acres to <br />be all open space or park land. <br /> <br />Receiving Zone <br />î 0 t.ê-l <br />10 acres <br />acres <br /> <br />Granting <br /> <br />Zone <br /> <br />+ <br /> <br />2 acres <br /> <br />= 12 <br /> <br />Density bonus percentage: <br />2 acres divided by 12 acres = 16.67 % <br /> <br />Density bonus factor: <br />16.67 x 2% = 33.34 % <br /> <br />Density bonus in dwelling units: <br />120 units x 33.34% = 40 units <br /> <br />Total units authorized after <br />transfer: 120 units + 40 units = 160 <br />units <br /> <br />Density of receiving zone <br />transfer: 16 units per acre. <br /> <br />after <br /> <br />Required new zoning <br />receiving zone: MF-3. <br /> <br />district <br /> <br />for <br /> <br />400. Procedure. <br /> <br />401. The applicant requesting the transfer shall: <br /> <br />401.01. Make application through the Planning <br />and Zoning Commission to the City Council <br />for the transfer of development rights <br />(TDR). The TDR application requirements <br />shall be as follows: <br /> <br />401.01.01. Said application shall be <br />submitted to the Director of Planning <br />no later than 15 days prior to a <br />regularly scheduled joint meeting of <br />the Planning and Zoning Commissions. <br /> <br />3 <br />