81-653 Special Permit for Transfer of Development Rights From Landmarks to Non-Qualifying Sites
For non-qualifying sites, the City Planning Commission may permit the transfer of development rights from a granting lot to a receiving lot, pursuant to the provisions of Section 74-79 (Transfer of Development Rights From Landmark Sites), provided that:
(a) the maximum amount of floor area that may be transferred from a granting lot shall be the applicable basic maximum floor area set forth in Section 81-65 (Special Floor Area Provisions for All Non-qualifying Sites), less the total floor area of all existing buildings on the landmark zoning lot, and any previously transferred floor area. In no event shall a granting lot transfer any previously granted bonus floor area received for subway station improvements, publicly accessible open areas or the provision of district improvements pursuant to the provisions of this Chapter, or any preceding regulations;
(b) for each receiving lot, the increased floor area allowed by the transfer of development rights pursuant to this Section shall not exceed the amount resulting in the maximum floor area ratio set forth in Row F of the table in Section 81-65; and
(c) each transfer, once completed, shall irrevocably reduce the amount of floor area that may be developed or enlarged on the granting lot by the amount of floor area transferred.