Ordinance No. 0861

An Ordinance of the City of Ketchum amending Chapter 17.64 of the Ketchum City Code by amending Subsection 17.64.010(H)(a) to clarify the Affordable Housing Bonus; addition of a new subsection 17.64.010(H)(2)(b) creating a bonus for the transfer of development rights in the Community Core zone; addition of a new Subsection 17.64.010(H)(2)(c) creating a bonus for the creation of hotels in the Community Core zone; amending section 17.08.020, Definition of Hotel; amending Title 17 of the Ketchum City Code by adding a new chapter, Chapter 17.142 and a new Section 17.142.010, creating Transferable Development Rights; providing definitions; establishing sending areas within the Community Core zoning district, establishing receiving areas within the Community Core zoning district; providing a time limit to exercise Development Rights; providing a procedure for the transfer of Development Rights; providing that transferable Development Rights are an interest in Real Property; providing for restriction on the development of the sending area in perpetuity or until extinguished by the City; providing for an easement to the City restricting the use of the sending area; providing a savings and severability clause; providing a repealer clause and providing for an effective date