Applicability.
The procedures and regulations in this Chapter apply to the transfer of development rights from land qualifying as sending sites to land qualifying as receiving sites and/or to a transferee.
Allocation of development rights.
A development right shall be severed and transferred only by a development right certificate issued by Santa Fe County. A conservation easement, restrictive covenant, or other permanent and enforceable restriction on future development shall be placed on the sending area limiting future development to the total number of development rights established by the zoning of the property minus:
1. all development rights previously transferred in accordance with this Chapter;
2. any development rights previously extinguished or limited as a result of a recorded covenant or plat applicable to the property;
3. the number of development rights to be transferred by the proposed transaction;
4. the number of existing single-family dwellings or square footage of development allowed on the sending site.
The restriction on future development imposed on the sending area under
§ 12.1441 shall be created by a written instrument approved by the County Attorney and identified on a survey plat, which shall reference the recorded instrument and clearly identify the area of restricted development. The plat shall be approved in accordance with
CHAPTER 4: PROCEDURES AND PERMITS.
Transferors shall have the right to sever all or a portion of the development rights from sending areas and to sell, trade, or barter all or a portion of those rights to a transferee.
Any transfer of development rights pursuant to this Chapter authorizes only an increase in maximum density and shall not alter or waive the development standards of the receiving site, nor shall it allow a use otherwise prohibited in the receiving zoning district, unless otherwise provided in the regulations applicable to the receiving site.
Transfer of development rights shall not be available for land restricted from development by covenant, easement or deed restriction.
All transfer of development rights shall be recorded in the land records of Santa Fe County, New Mexico.
Value of Transferable Development Rights.
The monetary value of transferred development rights is completely determined between the seller and buyer.
Development Approval Procedure.
The procedures for review and approval of an application including the use of transferred development rights shall be the same as those procedures that would apply if no transferred development rights were being used. A rezoning of the receiving site shall not be required for use of development rights consistent with the provisions of this Chapter unless it is part of a rezoning to a qualifying district. If the County approves the proposed development, the documentation of the approval shall include the numbers of the development right certificates necessary to support the number of residential dwelling units or nonresidential square footage in the development.
Development right certificates shall be acquired prior to recordation of a final plat.
The development rights certificates will be extinguished at the time of the plat recordation.
A conceptual plan shall establish the number of TDRs required for the development. A receiving site may be established by a conceptual plan, including location, size and general development parameters. The normal subdivision and rezoning processes, if needed, will be required in addition to the conceptual plan approval.
Reinstitution of development rights. Reinstitution of development right on a sending site is prohibited.
Notification of the County Assessor.
The Assessor may review and adjust the valuations in accordance with NMSA 1978, Art. 35–Art. 38, Chapter 7, “Property Tax Code” for purposes of the real property tax of the sending parcel and of the receiving parcel or parcels, if any, appropriately for the development rights severed or received. The County shall notify the County Assessor of the transfer or purchase of development rights within thirty (30) days of any of the following:
The approval of a TDR;
The issuance of a certificate for the TDRs;
Purchase of development rights by the County for the County development rights bank;
The receipt by the County or the County development rights bank of a donation of development rights; and
The sale, lease or conveyance of development rights by the County development rights bank.
Establishment of the County Development Rights Bank.
The Board may establish a development rights bank.
The County development rights bank Administrator shall have the power and authority to negotiate a purchase of development rights, subject to the approval of the Board.
The County development rights bank may, for conservation or other purposes, hold indefinitely any development rights it possesses.
Funding, Management.
The County development rights bank may receive funds from the proceeds of a voter approved open space bond issue; from the general fund of the County, whether through issuance of general obligation bonds or from general fund revenues; from the proceeds of the sale of development rights by the County development rights bank or any revenue from a public improvement district bond issue; or grants or donations from any source. A separate interest-bearing trust fund shall be established for the County development rights bank, into which all receipts shall be deposited and from which payments shall be made.
Program Development.
The Board may further development of the County’s TDR program by adopting resolutions not inconsistent with Section
12.14.
See
§ 12.14: TRANSFER OF DEVELOPMENT RIGHTS for complete, detailed information.
