The following summarizes the necessary steps for selling Transfers of Development Rights (TDRs) if you own property in an eligible sending area.
Submission to the Planning Department
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.
Execute & Record Deed Transference
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.