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How does the TDR Program work?
The owners
of properties located within environmentally or historically significant areas -
known as "sending
areas" - may sell the development potential of their properties to owners of
property located in areas more suitable for development, known as
"receiving areas." The sending area property owner maintains
ownership of the underlying land, but must agree to record a Conservation
Easement on the property that protects the resource and restricts future
development of the property. The owner of the receiving area property may then
increase the permitted density on their property according to the number of
development rights purchased, thereby
transferring the development potential from the sending area
property to the receiving area property.
Who benefits from this Program?
- Owners of sending area properties achieve some economic return on their
property that would otherwise be restricted or prohibited from developing
due to sensitive areas or low density zoning requirements.
- Owners of
receiving area properties can increase the density of their developments
thereby accommodating a greater number of uses, tenants, or parking
facilities.
- The public and citizens of Redmond benefit from the program
through the recorded Conservation Easements that preserve and protect open
space and sensitive wildlife habitat areas for future enjoyment.
How much do TDRs cost?
The price of a TDR is determined on the private market between the buyer and seller. The
price fluctuates as the demand for TDRs changes.
How many TDRs can I send from my property?
The
number of TDRs granted per acre of eligible sending area is based on the site’s
underlying zoning. In general, where the zoning permits more intense
development, an acre of eligible sending area is granted more TDRs. For example,
properties in the Urban Recreation (UR) zoning district are permitted only very
low density development and therefore receive fewer Development Rights per acre
than land zoned for higher intensity use, such as land in Redmond’s Downtown.
The number of TDRs granted per acre can be found on in
Ordinance 2353, Exhibit 1,
page 7.
How do I participate if I own land within a Sending
Area?
The following summarizes the necessary steps for selling TDRs if you own
property in an eligible sending area. Please see the contact information
at the bottom of this page for more information.
- You may, at any time, submit to the Planning Department an application
requesting the issuance of a Certificate of Development Rights. You will need to provide proof of Title to the property, and a
general description
of the land that you would like to enroll in this program. You may enroll
all or a portion of your property.
- For properties that meet the
requirements of the program, the city will issue a TDR Certificate that can
then be retained by you or sold or transferred to any interested buyer.
You will need to provide a legal description of the land to be enrolled before
the City can issue a TDR Certificate.
- Before you sell or
transfer the TDR certificate, you must record a conservation easement
against that portion of the property that is being enrolled in the program.
The conservation easement is granted to the City of Redmond and limits the
use of the property for future development.
- Once you and a willing buyer
agree on terms of a purchase and sale, you must execute and record a deed
transferring ownership of the development rights. While you will remain the
underlying landowner (unless you sell the underlying land to a third party),
the buyer of the TDRs becomes the owner of the development rights, which
may be used to increase development density on land located within
designated receiving areas.
- Surveying the property and recording the
conservation easement may take a few weeks.
How do I participate if I own land in a receiving
area?
- As a property owner in a receiving area, the first step is to acquire
transferable development rights. That can occur once you have agreed to the
terms of purchase and sale of TDRs with a sending area property owner, and the
conservation easement and a deed memorializing that transaction have been
recorded. Contact Associate Planner Jeff Churchill for a list of potential
TDR sellers (425-556-2492 or
jchurchill@redmond.gov).
- Next, you may submit an application to develop your land
together with notation describing the development proposed, the zoning
classification of the property, the amount and serial number of the
development rights used, how the development rights are proposed to be used,
and a notation of the recording number of the conservation easement on file
with King County.
- Using TDRs on your development should not add to the
total project review time. However, the amount of time it takes you to
find a willing TDR will vary based on market conditions. It may take
only a few days, or it could take months.
Once I acquire the TDRs, how can I use them on receiving
area
properties?
Each development right is given an equivalent "value" for its use.
You may purchase multiple development rights and use them in any combination as
described below. Each TDR within the City of Redmond may be used as follows:
- To increase the amount of building area by 8,712 square feet
- To
substitute a requirement to provide 8,712 square feet of public or
private park land as part of development review.
- To increase the
amount of impervious surface on your property by 8,712 square feet (provided
the total increase does not exceed 10% of the site.)
- To increase the
height limitation on your project by up to one story over each increment
floor area of 8,712 square feet.
- To add up to 25% (in Downtown and
Overlake) or 30% (elsewhere) more parking spaces per 1,000 square feet of
gross floor area than would be allowed by the underlying parking requirements
provided that the total parking ratio does not exceed five spaces per 1,000
square feet of gross floor area.
Where are the sending areas located?
Please see the sending areas map for a graphic representation of where
sending areas are located. In general, sending areas are located along
streams, wetlands, critical wildlife habitat areas, and steep slopes. Of
those, only streams, stream buffers, and steep slopes can be accurately
mapped. Other properties are evaluated for sending area potential at the
time a property owner requests enrolling land in the TDR program.
Where are the Receiving Areas located?
Please see the receiving areas map for a graphic representation of where
Receiving Areas are located. Receiving areas include properties within Downtown,
and properties zoned Overlake Business and Advanced Technology (OV), General
Commercial (GC), Retail Commercial (RC), Gateway Design District (GDD), Business
Park (BP), Manufacturing Park (MP) and Industry (I). These areas were selected
because they are suitable for urban development, and because they already have
adequate or easily obtainable infrastructure necessary to accommodate the
additional density.
Who may purchase development rights?
Any person or organization may purchase development rights. Property
owners in receiving areas are the most likely buyers since they have a ready use
for the TDRs, but ownership of such property is not a requirement. How do I get additional information regarding the
TDR Program?
For complete details regarding this program and requirements, please refer to
Ordinance 2353. For
complete details and assistance in submitting an application to establish TDR's
on qualifying sending area properties, contact Jeff Churchill, Associate Planner,
using
the contact information listed below. Jeff also has a list of TDR owners who are
interested in transferring their rights.
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