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Exhibit B <br />ORDINANCE Exhibit A - Page 10 of 55 <br />(3) If a reasonable economic use of a lot cannot exist by means of either <br />subsection (B)(6)(c)(1) or (2) of this section, then the planning director is <br />authorized, using the review process described in EMC Title 15, Local Project <br />Review Procedures, to administratively grant a transfer of development rights in <br />addition to subsection (B)(6)(c)(1) or (2) of this section, or in lieu of them. For <br />purposes of this section, “transfer of development rights (TDR)” means that the <br />city severs the development rights from the fee interest and permits the owner <br />of the restricted property to either transfer an authorized portion of the <br />development rights in that property to another lot owned by the restricted <br />party in accordance with the following provisions, or permits the owner of the <br />restricted property to sell an authorized portion of the rights to owners of land <br />who can use the authorized development rights in accordance with the <br />following: <br />(A) Single-Family Zones. The number of dwelling units allowed under a <br />reasonable use determination for any residential development may be <br />transferred to a single-family zone; provided, that the number of <br />dwelling units allowed to be transferred to the receiving site shall not <br />exceed the lesser of: <br />(i) The number of dwelling units which the planning director <br />determines to be the minimum necessary to allow for <br />reasonable economic use of the restricted property; or <br />(ii) The number of dwelling units that would be allowed on the <br />receiving site with an assumed twenty percent increase in lot <br />size. In approving a transfer of development rights to the <br />receiving site in a single-family zone, the planning director shall <br />have the authority to allow for a reduction of the minimum lot <br />area allowed by the zone in which the receiving site is located <br />by not more than twenty percent. The director shall have the <br />authority to reduce the required lot width and depth by not <br />more than twenty percent. All dwelling units on such lots shall <br />be single-family dwellings. <br />(B) Multiple-Family Zones. The amount of development transferred to <br />the receiving lot shall be limited only by all other requirements of this <br />title applicable to the use zone in which the receiving lot is located <br />(building height, off-street parking, setbacks, multiple-family <br />development standards, etc.), excluding maximum permitted density. <br />(C) Commercial and Industrial Zones. The amount of development <br />transferred to the receiving lot shall not exceed that which can be <br />accommodated by allowing an increase of permitted height on the <br />receiving lot of not more than fifteen feet. All other requirements of the <br />use zone in which the receiving lot is located shall be applicable to the <br />transferred development.