9344.8. - Transfer of development credits for residential.

The transfer of development credits for residential units in this district is to provide flexibility in the development of residential multi-family units, and to encourage the development of cohesively planned complexes of multi-family units. A development credit is a potential entitlement to construct one (1) multifamily residential unit. The transfer of residential development credits may be authorized based on the conditions, and subject to the provisions listed as follows:

A.

Residential development credits may be transferred among donor and receiver parcels only within the CSMU district west of Kanan Road, south of Laro Drive, and east and north of the Medea Creek channel;

B.

The development credit can only be exercised when it has been transferred pursuant to the provisions of this section from a donor to a receiver parcel and all other requirements of law are fulfilled;

C.

The city council, after recommendation by the planning commission, finds the donor parcel has development credits to be transferred, the receiver parcel has sufficient area designated in the general plan to accommodate development otherwise permitted under city regulations, and that such total development meets all of the applicable requirements of the city's general plan, and this section;

D.

The transfer of credits shall be authorized as part of a development agreement, which shall include both the donor and receiver parcels;

E.

When development credits are transferred, all such credits for a parcel shall be transferred, and they are thereafter extinguished with regard to the donor parcel;

F.

The number of development credits that may be transferred shall not exceed the number of dwelling units provided for in section 9343.7;

G.

Before approving the transfer of development credits, the city must find that the appropriate guarantees exist and will be provided to ensure that the transfer conforms to the intent and purposes of the general plan; the transfer will not result in a detrimental effect on the area surrounding the receiver parcel; and the transfer of credits will result in a superior residential development complex that would not otherwise be feasible without the transfer of credits.

(Ord. No. 22-461, § 6, 8-24-2022)