§ 102-172. Reconveyance of development rights or release of owner from terms of covenant; payment of deferred tax liability.

(a)

After making a conveyance of the development rights or executing a covenant pursuant to this subdivision, the owner of the land, or anyone with the owner's knowledge or consent, shall not use the land in any manner inconsistent with the development right voluntarily conveyed, with the restrictions voluntarily imposed, or with the terms of the covenant, without first obtaining a written instrument from the board of county commissioners, which instrument reconveys all or part of the development right to the owner or releases the owner from the terms of the covenant, and which instrument must be promptly recorded in the same manner as any other instrument affecting the title to real property. Any violation of this section shall constitute a breach of the conveyance or covenant for which breach the board, after holding a hearing, may reconvey the conveyance or revoke the covenant and require the owner of the land to pay the deferred tax liability, set forth in subsection (b) below.

(b)

The reconveyance or release shall only be made to the owner upon payment of the deferred tax liability, which shall be an amount equal to the difference between the total amount of taxes which would have been due in March in each of the previous years in which the covenant or conveyance was in effect if the property had been assessed under the provisions of F.S. § 193.011 and the total amount of taxes actually paid in those years when the property was assessed under the provisions of this subdivision, plus interest on that difference computed as provided in F.S. § 212.12(3). This payment shall be extended on the tax bill as a separate item by the county. The county tax collector shall make appropriate adjustments to the tax liability of the subject property, pursuant to prior and current tax roles.

(c)

The board of county commissioners, as title holder of the development rights pursuant to this subdivision, shall not convey the development rights to anyone other than the record owner of the fee interest in the land to which the development rights attach, or his heirs, assigns or devisees. The release from a covenant or reconveyance to the owner of the fee, or his heirs, assigns or devisees, shall be made only after a determination by the board that such release or reconveyance would not adversely affect the interest of the public. The board shall not release a covenant or reconvey the development rights to the record owner of the fee interest or his heirs, assigns or devisees without first holding a public hearing. Notice of the public hearing shall be published once a week for at least two weeks in a newspaper of general circulation in the county prior to the hearing.

(Ord. No. 92-25, § 1(21-52), 11-10-92)