31 Historic Preservation Plan • Undertake more detailed cultural landscape studies for high priority historic landscapes. The studies should include a thorough understanding of the site’s history, assess notable landscape features, evaluate the condition of the site, and recommend strategies for conserving the historic landscape. Evaluate the Effectiveness of Design Standards The City will soon adopt new urban and suburban design standards that focus on ensuring that compatible new development will take place. Once the standards have been in place for two years, the City might appoint an independent citizen advisory committee to evaluate the effectiveness of the new design standards, especially as they relate to the local historic districts, and recommend modifications if warranted. Real Estate Transfer Tax Residents of some fast growing communities have voted to establish a transfer tax (typically 1% of the selling price) that is levied on the sale of certain types of property for the purposes of land conservation. The tax can be levied on the seller, or the buyer. Reviews have been mixed on the effectiveness of such a tax. According to the Trust for Public Land, “At the local level, the real estate transfer tax can create substantial funds for park and open space acquisition, particularly in fast-growing communities. On the other hand, it can also inflate real estate values and slow the market.” Transferable Development Rights (TDRs) The Tennessee State Legislature recently passed legislation authorizing localities to establish TDR programs. Under a TDR program, development rights are transferred from “sending zones” that are designated for protection to “receiving zones” that are designated for future growth. Conservation easements provide permanent protection from development in the sending zone. Communities have used this approach with mixed success, largely because it can be politically and physically challenging to identify receiving zones where more dense development can occur.
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