Who determines how much the Developer will pay for the development rights?
The land value will be determined by an industry recognized three appraiser method; Two independent appraisers will determine the value of the land taking into account market prices as well as the new zoning of the site and the uses required in the Planned Unit Development (PUD). Should the two initial views materially differ from each other, a third appraiser will be selected to verify and determine which opinion is most valid. In this way the District will be paid the full and current market value for its land while the Developer will not be able to realize any profit from either upzoning or land inflation.
