Mountain Village City Zoning Code
17.3.8 Density
Transfer and Density Bank Policies.
A. The density bank was created for the purpose of preserving undeveloped density for future development.
B. Density may be transferred from one lot to another lot or to the density bank provided the density transfer is approved pursuant to the density transfer and rezoning processes as concurrent development applications, except for MPUD development application that may defer density transfer to the final PUD plan stage.
C. If all of the density assigned to a lot is not utilized as a part of a subdivision, rezoning, design review or other process as provided for in the CDC, such unused density shall be transferred to the density bank except for workforce housing density that must be built on a site as provided for in the workforce housing requirements set forth below.
D. Density that is transferred to the density bank is not assigned to a specific lot, but retains the zoning designation from the original lot to which it was assigned unless it was rezoned to a new zoning designation during the density transfer.
1. The owner of record of density in the density bank shall be responsible for all dues, fees and any taxes associated with the assigned density and zoning until such time as the density is either transferred to a lot or another person or entity.
2. The density bank shall be administered and maintained by the Planning Division and shall be made a part of the official land use and density allocation list.
E. Density transfers within the Original PUD Boundary are required for either an increase or decrease of density on a lot.
1. A development application for the decrease of density assigned to a lot shall not be approved unless the rezoning development application includes a request to transfer the unused density to the density bank or there is a concurrent rezoning transferring the unused density to another lot.
2. A rezoning development application to increase density on a lot shall include a proposed density transfer from the density bank or another lot, except for MPUD development application that may defer density transfer to the final PUD plan stage.
3. Density transfers are not required for rezoning outside the Original PUD Boundary.