(a) 
The purpose in allowing the transfer of density is:
(1) 
To allow for the transfer of development rights out of critical areas into buildable areas; and
(2) 
To allow a property owner to recover a portion of the development value from property that may be used for a public purpose.
(b) 
TDR is not a guarantee that full development value can be recovered from a parcel of land designated as a sending area. Certain market forces may limit demand for density transfers including limitations placed on critical area receiving district capacities; particularly where all such districts are built out. Value of development rights shall be determined by the market for said rights and shall in no way be the responsibility of the City of Lake Stevens.
(c) 
All transfers must be consistent with the policies of the City's Comprehensive Plan and the provisions of this chapter. In particular, land developed within a critical area receiving district through the transfer of development rights shall comply with all use, dimensional, parking, screening, etc., requirements as set forth in this title.
(d) 
Development rights may be transferred out of areas designated as critical area sending districts and only into areas designated as critical area receiving districts. They may be transferred within or across ownership boundaries.
(e) 
When development rights are transferred off site, the property owners shall provide and enter into a contract with one another which, at a minimum, shall acknowledge their participation and acceptance.
(Ord. 741, Sec. 2, 2007; Ord. 773, Sec. 2, 2008; Ord. 984 Sec. 3 (Exh. C), 2019)
(a) 
All areas classified as a critical area by this chapter shall be considered critical area sending districts. Additionally, land that does not qualify as a critical area but which has been determined by City Council to be land suitable for a public purpose may be designated as critical area sending districts by the Planning and Community Development Director with the concurrence of the majority ownership of the land.
(b) 
Any parcel or portion of a parcel on which development can occur per this title may be designated as a critical area receiving district by the Planning and Community Development Director with the concurrence of the majority ownership of the land.
(Ord. 741, Sec. 2, 2007; Ord. 773, Sec. 2, 2008; Ord. 984 Sec. 3 (Exh. C), 2019)
(a) 
Critical area sending or receiving districts are considered overlay zones allowed per Section 14.88.920, Qualifications for Designation of Land as a Critical Area Sending or Receiving District. Designation as a critical area sending or receiving district is the equivalent of a rezone and shall be accomplished by the same process as specified in Section 14.16C.090.
(b) 
Underlying land use and zoning designations may be changed by the legislative authority granted to the City through its normal Comprehensive Plan amendment or rezoning procedures. However, the land will retain the critical area sending district designation until that designation is specifically removed.
(c) 
Land designated as a critical area sending or receiving district shall be shown as an overlay district on the Official Zoning Map. The map shall be modified upon each designation or revocation.
(d) 
Designation or revocation as a critical area sending or receiving district shall be recorded with the Snohomish County Recorder's Office and shall run with the land.
(Ord. 741, Sec. 2, 2007; Ord. 773, Sec. 2, 2008; Ord. 811, Sec. 74, 2010; Ord. 903, Sec. 55, 2013; Ord. 984 Sec. 3 (Exh. C), 2019)
(a) 
Land that has been designated as a critical area sending district shall retain its designation:
(1) 
Until all development rights calculated for that parcel have been transferred; or
(2) 
For a period of three years, whereby the designation may be reviewed for reconsideration. The designation may be continued upon all of the following findings being met:
(i) 
The property retains the same characteristics that qualified it as a critical area receiving district in the first place.
(ii) 
The owner(s) of the property desire a continuation of the designation.
(iii) 
It is still in the public interest to continue the designation.
(b) 
Land that has been designated a critical area receiving district shall retain its designation until the property has yielded its development potential.
(c) 
The Council may reconsider designation revocation of a noncritical area when it determines that the property is no longer suitable for public use.
(d) 
Revocation of a critical area sending or receiving district designation shall not affect the underlying land use designation or zone.
(Ord. 741, Sec. 2, 2007; Ord. 773, Sec. 2, 2008; Ord. 984 Sec. 3 (Exh. C), 2019)
(a) 
Maximum transferable development rights shall be calculated for each parcel or portion of a parcel by calculating the theoretical development capacity were the land not classified as a critical area. Theoretical development capacity is calculated based on the requirements of this title, in particular Chapter 14.48, Density and Dimensional Regulations, but also taking into account the requirements of all other chapters (e.g., parking, screening, fire code, building code, etc.).
(b) 
Only like development rights may be transferred, and may only be transferred to a zone allowing a similar use, e.g., commercial square footage may be transferred out of a commercial district and into another commercial district or an industrial district that allows commercial uses.
(Ord. 741, Sec. 2, 2007; Ord. 773, Sec. 2, 2008; Ord. 984 Sec. 3 (Exh. C), 2019)