Xxxx County TDR Bank Sample Clauses

Xxxx County TDR Bank. The City recognizes that the County TDR Bank will play an important role in facilitating the Regional TDR Credit market used in the LIPA by: (1) buying Regional TDR Credits from willing landowners, (2) holding the Regional TDR Credits in reserve as described in Section III.B.2, (3) selling Regional TDR Credits when willing buyers in the LIPA are available, and (4) reinvesting the proceeds of Regional TDR Credit sales into protection of agriculturally-zoned land. Therefore, the City agrees that TDRs purchased from the County’s TDR Bank will qualify for use in the LIPA as Regional TDR Credits, provided that the Credits meet the requirements of Section II.C.
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