A Transfer of Development Rights (TDR) Program is established: (A) as an incentive for protecting farms, forests, rural lands, and environmentally critical areas while encouraging greater development within appropriate areas of Mountlake Terrace; and (B) as a potential way to obtain infrastructure financing under Chapter 39.108 RCW.
(Ord. 2607 § 2, 2012)
"Baseline development potential"
means the maximum development intensity allowed in receiving areas without the use of a TDR credit or other sustainability incentive authorized under MTMC Title 19 for additional development.
"Bonus development"
means development that exceeds baseline development potential in accordance with this chapter and either the sustainability provision for Town Center Building District B incentives overlay pursuant to MTMC § 19.50.070(O) or the TDR provisions of Chapter 19.50 MTMC.
"County"
means the county government of Snohomish, King, or Pierce Counties.
"Freeway/Tourist zoning district"
means the Freeway/Tourist area identified on the City's Official Zoning Map as adopted in 2010 and including any amendments thereto.
"TDR Manager"
means the City employee assigned by the Community and Economic Development Director to accomplish the duties specified in this chapter.
"Town Center"
means the Town Center area identified on the City's Official Zoning Map as adopted in 2010 and including any amendments thereto.
(Ord. 2607 § 2, 2012)
Sending areas under this program shall be within unincorporated Snohomish, King, or Pierce Counties; provided, that such areas have been designated by the respective county as agriculture or forest lands of long-term commercial significance or as rural lands that otherwise meet the sending area criteria of Chapter 39.108 RCW.
(Ord. 2607 § 2, 2012)
The City will accept the transfer of development credits from eligible sending areas; provided, that the credits are transferred in accordance with the requirements of this chapter and Chapter 39.108 RCW.
A. 
To transfer development credits, the sending area must be encumbered by a conservation easement approved by the County in which the sending area is located.
B. 
All conservation easements used to achieve development bonuses encumber real property pursuant to this chapter and MTMC Title 19 and must be conveyed in a manner consistent with RCW 64.04.130. The grantee of the conservation easement must be the County or a third party with the express right to enforce the terms of the conservation easement.
(Ord. 2607 § 2, 2012)
Upon recording a qualifying easement, TDRs shall be issued to the participating sending area property owners as follows:
A. 
For sending areas situated in unincorporated Snohomish County, Snohomish County will establish the sending area allocation ratios for the TDRs that are consistent with Snohomish County Code Chapter 14.222 or any amendment thereof.
B. 
For sending areas situated in unincorporated King County, King County will establish the sending area allocation ratios for the TDRs that are consistent with King County Code 21A.37.040 or any amendment thereof.
C. 
For sending areas situated in unincorporated Pierce County, Pierce County will establish the sending area allocation ratios for the TDRs that are consistent with Pierce County Code 18G.10.040 or any amendment thereof.
(Ord. 2607 § 2, 2012)
A. 
For sending areas situated in unincorporated Snohomish County, the TDR must be certified pursuant to Snohomish County Code Chapter 14.222 or any amendment thereof.
B. 
For sending areas situated in unincorporated King County, the TDR must be certified pursuant to King County Code 21A.37.070 or any amendment thereof.
C. 
For sending areas situated in unincorporated Pierce County, the TDR must be certified pursuant to Pierce County Code 18G.10.070 or any amendment thereof.
(Ord. 2607 § 2, 2012)
The City's receiving areas for development credits under this chapter are the freeway/tourist zoning district pursuant to the TDR provisions of Chapter 19.60 MTMC and the BC/D Building District B incentives overlay pursuant to the sustainability provision of MTMC § 19.50.070(O).
(Amended by City request, 1/14; Ord. 2607 § 2, 2012)
In zones where MTMC Title 19 expresses bonus development in terms of number of stories above the baseline development potential, the number of TDRs required to obtain a development bonus shall be calculated as follows:
A. 
For sending areas situated in unincorporated Snohomish County or unincorporated King County, one TDR allows 10,000 square feet of bonus commercial area or two bonus dwelling units.
B. 
For sending areas situated in unincorporated Pierce County, one TDR allows 5,000 square feet of bonus floor area.
(Ord. 2607 § 2, 2012)
A. 
Developers who intend to exceed baseline development potential in a TDR receiving area, as such potential is identified in MTMC Title 19, shall acknowledge in development-related application materials that they will be required to submit the prescribed number of TDRs at the time the developer submits the building permit application. Preliminary application approval, where applicable, will indicate the estimated number of TDRs required prior to final approval. Applicants are not required to own or control TDRs at the time of submitting the application and TDRs do not impact a project's ability to vest in current regulations. Instead, applicants shall submit the prescribed number of TDRs prior to the City's issuance of building permits.
B. 
Developers may obtain TDRs directly from a sending area landowner, from TDR banks, or from any other intermediary.
C. 
Final building permit approval shall not be granted until the TDR Manager has provided written documentation of compliance with TDR requirements. The serial numbers of all TDRs shall be recorded on the building permit for all projects using TDRs.
(Ord. 2607 § 2, 2012)
A. 
The TDR Manager shall maintain a TDR registry documenting the ownership history of all TDRs by serial number from the time they are granted to the sending area owner to their retirement in a receiving area development.
B. 
The TDR Manager may adjust the value of a serially numbered TDR to reflect TDRs that have been partially used as provided by this chapter.
C. 
Once the first TDR has been accomplished under this chapter, the TDR Manager shall prepare an annual report documenting all TDRs issued, transferred, and retired. The report may include recommendations for improving the effectiveness of the TDR Program or for adjusting the TDR allocations under this chapter. The TDR annual report shall be available on the City's website.
D. 
The TDR Manager should check at least annually with each participating county whether the TDR ratio has changed. If the ratio has changed, the TDR Manager should propose any amendments needed to make this chapter consistent with the current County/City TDR ratios.
(Ord. 2607 § 2, 2012)