Rural Fringe Mixed Use District (RFMUD) Collier County | Florida Sending Economics and Ideas for Change https://www.colliergov.net/GMPrestudies COMMUNITY PLANNING PLANNING AND ZONING DIVISION FEBRUARY 16, 2016 District Map Sending Areas
Transfer of Development Rights (TDRs) Credit Types: 1. Base 2. Early Entry 3. Restoration and Maintenance 4. Conveyance Sending Area Density Before Final Order:
1 home per 5 acres After 2004 Plan Adoption: 1 home per 40 acres; or 1 home per smaller parcel in existence before 1999 Credits as Compensation
Projected TDR Shortage - under current rules Likely Demand vs. Likely Supply Existing Growth Management Plan 14,000 13,400 12,000 10,000 8,000
6,000 4,000 2,000 0 5,500 North Belle MeadeNRPA Top 9 Owners
Credit Supply and Demand* Supply (approximate): 40% controlled by end users (2,200) 60% from private individuals (3,300) Demand (approximate): Rural Village (8,800)
Non-village (4,600) * Latent supply and demand, preliminary staff analysis, current GMP Projected TDR Shortage - under current rules Likely Demand vs. Likely Supply Existing Growth Management Plan 14,000 13,400
12,000 10,000 8,000 6,000 4,000 2,000 0 5,500
Vacant/ Agricultur e Receiving Land 2 Ways for Buyers to: Get Credits Buy Buy Credits, willing sellers Land, convert land to
credits Arms-length Transactions Credits Only: 2012-2015 Approximately 1,100 TDR Credits exchanged Sales typically bundled 1
base + 1 bonus 1 base + 2 bonus Example: 1 Base + 1 Bonus $25,000 + $3,000 = $28,000 Average cost per TDR= $14,000 True Credit Cost, 2012 to 2015
Prices ranged from $12,000 to $15,000 per credit Average price; approximately $13,700 Median Price per Acre South Belle Meade:
$ 6,000 North Belle Meade (East) $ 3,500 North belle Meade (West) $12,500 Example: South Belle Meade If Sale: $6,000/acre x 5 acres = $30,000
If TDR Program (at $13,500 per TDR): Base and EE Bonus: $27,000 R&M and Convey: $27,000 R&M Cost*: ($10,000) Net TDR Program: $44,000 *Assumption of $2,000/acre if determined by Forestry and FDEP South Belle
Meade Example: North Belle Meade- E If Sale: $3,500/acre x 5 acres = $17,500 If TDR Program (at $13,500 per TDR): Base and EE Bonus: $27,000 R&M and Convey: $27,000 ? R&M Cost*: ($30,000) Net TDR Program:
*per RF Coalition report, 2015 $24,000 North Belle Meade East Sending Example: North Belle Meade- W If Sale: $12,500/acre x 5 acres = $62,500
If TDR Program (at $13,500 per TDR): Base and EE Bonus: $27,000 R&M and Convey: $27,000 R&M Cost*: ($30,000) Net TDR Program: *per RF Coalition report, 2015 $24,000 North Belle Meade
West Sending TDR Program Models Concurrent transfers Commodity exchange Banking Commodity Exchange (Collier County today) TDR Credit Certificates are issued by
County Can be: Sold to willing buyer Held indefinitely, resold to other buyers Redeemed
Includes Provides at time of Plat a Buyers and Sellers list some degree of technical assistance TDR Bank Has all attributes of Colliers current exchange
Purchases and Sells credits Sets credit price directly or indirectly Can be run by County or other Agency
TDR Bank, cont. Pricing: Direct: By setting a purchase price and a sale price through an appraisal method Indirect: By auction method Banking Advantages:
Ready buyer for Sending Owners Evens out market swings in economy Disadvantages: Cost to create and maintain
Risk to locality if held for many years Contact: Web: https://www.colliergov.net/GMPrestudies E-mail: [email protected] Workshop A: Credit System 1. (Rank) If additional TDR credits can be generated to enhance the returns of Sending Land Owners and make more credits available to buyers, rank the following in order
of preference as a basis for awarding those credits: Land where habitat value is highest Land that can accommodate a flow way Land that retains agricultural uses for a period of time
Land that requires a higher level of restoration Land located in the NRPA overlay (excludes North Belle MeadeWest) All Sending Land regardless of location or attributes Workshop A: Credit System 2. Should the $25,000 minimum price for a base TDR Credit be
eliminated? YES NO a. Why/Why not? Workshop A: Credit System
3. Should credits be used outside the Receiving Areas for any purpose? YES NO a. Where?
b. Why/Why not? Workshop B: Program Management 1. 2. Should application fees be reduced? YES
NO Should the County offer free workshop assistance to owners to complete the severance process? YES NO
Workshop B: Program Management 3. What should be done to link Sellers with Buyers of TDRs? 4. Should a TDR Bank be established? YES
NO a. Who/What agency? Workshop C: Sending Land Management 1. Where owners decide to use land for agriculture (with agricultural easement): a. b.
Should the owner earn TDR credits? YES NO If agricultural contiguous land exceeds 20 acres, should owner also qualify for one additional family home? YES
NO Workshop C: Sending Land Management 2. Should Sending Land in TDR program be owned and maintained by numerous private owners, or by very few larger managing entities? (Participating land owners) 3.
If larger managing entities, do you prefer the county, a state agency or a private agency coordinate management? 4. (Rank) Long term maintenance costs should be paid for by: Donated land through a required contribution (from sales of credits) A County mitigation program (fees that come from road building, for example)
A green utility fee paid by all County land owners (real estate tax) Where Used Credits Came From County Website https://www.colliergov.net/GMPrestudies
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