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D~n,ity_ Transfer Policie~ <br />A form of density transfer within the Pleasanton Ridgelands is prOposed to be the primary <br />vehicle used to achieve the open space protection sought in the Plan. The goal of the <br />program is to treat equally all similarly-situated properties within the Ridgelands, whether in <br />the Buffer Zone or Development Zone, while encouraging the voluntary achievement of the <br />open space goals through the market-based transfer of development potential out of the <br />Buffer Zone. <br /> <br />Policy P.R.I: <br /> <br />All similarly-situated properties with respect to its development <br />potential shall be treated similarly in assigning development <br />entitlements. <br /> <br />Policy P.R.2: <br /> <br />A holding capacity of 2,640 residential units shall be used as the <br />maximum development potential within the Pleasanton <br />Ridgelands in allocating development entitlements. <br /> <br />Policy P.R.3: <br /> <br />The structure of the program (i) shall create an incentive for <br />property owners in the Buffer Zone to transfer their <br />development potential to the Development Zone, while retaining <br />a fallback development option, and (ii) shall ensure that <br />sufficient resources are available to acquire the desired interest <br />in the Buffer Zone in the event that voluntary transfers do not <br />achieve this end. <br /> <br />Progrnm P.R.3.1: Prepare a Density Transfer Program which <br />has the general form of Table P.R. 1, granting Buffer Zone <br />properties development potential at about one-fourth the <br />development entitlement amount. <br /> <br />Program P.R.3.2: Adopt an open space acquisition in-lieu fee <br />to be charged to development in the Development Zone which <br />has not acquired its pro rata share of development credits from <br />the Buffer Zone, ensuring that the in-lieu fee is sufficient to <br />enable actual acquisition of development entitlements and/or <br />other d~ interests in the open space lands in the Buffer <br />Zone not being acquired through density transfer. <br /> <br />Policy P.R.4: <br /> <br />As much of the Buffer Zone should be acquired in fee title as <br />feasible, recogrfizirtg the need to minimize open space land <br />maintenance costs and to minimize governmental liability for <br />geologic or other hazards. Where fee title to Buffer Zone lands <br />is not acquired, appropriate conservation and/or access <br />easements shall be acquired. The density transfer system shall <br />be designed to secure the following priority acquisitions: <br /> <br />Page 2 <br /> <br /> <br />