Applicability.
The procedures and regulations in this Chapter apply to the transfer of development rights from land qualifying as sending areas to land qualifying as receiving areas.
Transferable Development Rights Certification.
A development right shall be severed and transferred only by a TDR Certificate issued by Santa Fe County. A permanent severance of transferable development rights and land use restriction agreement or other permanent and enforceable restriction on future development is required for TDR certification. The TDR Agreement shall limit future development on the sending area. The total number of development rights remaining on the property shall be established and identified in the TDR Agreement and on the TDR Sending Area Plat.
The TDR Certification results in the conveyance of TDR Certificates to the property owners and the restriction on future development imposed on the sending area pursuant to the TDR Agreement.
1. TDR Certification requires the recordation of the following documents:
a. TDR Agreement; and
b. TDR Sending Area Plat.
2. Both the TDR Sending Area Plat and the TDR Agreement shall clearly identify the area of restricted development, and shall reference the other document. The TDR Sending Area 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 TDR Certificates to a transferee.
Any transfer of development rights pursuant to this Chapter authorizes an increase in maximum density and/or changes to dimension standards in accordance with the zoning standards for the Receiving Area as identified in Chapter 8 and in accordance with the TDR Transfer Ratio identified in Table 12-2 and the TDR Dimension Standards Ratio identified in Table 12-3. The TDR Transfer Ratio and the TDR Dimension Standards Ratio and shall not alter or waive the development standards of the receiving area, nor shall they allow a use otherwise prohibited in the receiving zoning district, unless otherwise provided in the regulations applicable to the receiving area.
Transfer of development rights shall not be available for land restricted from development by covenant, easement or deed restriction.
All TDR Plats and TDR Agreements shall be recorded in the Office of the county Clerks.
Value of Transferable Development Rights.The monetary value of TDRs is completely determined between the seller and buyer.
Development Approval Procedure.
The procedures for review and approval of an application including the use of TDRs shall be the same as those procedures that would apply if no TDRs were being used. A rezoning of the receiving area shall not be required for use of TDRs 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 TDRs required to support the number of residential dwelling units, nonresidential square footage and/or adjustments to dimension standards required for the development.
TDR certificates shall be acquired prior to recordation of a final plat or Development Plan.
TDR certificates will be extinguished at the time of the plat or Development Plan recordation.
A conceptual plan shall establish the number of TDRs required for the development. A receiving area 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 rights on a sending area is prohibited.
Notification of the County Assessor.
The County Assessor may review and adjust a property's valuation in accordance with NMSA 1978, Chapter 7, Articles 35-38 to reflect valuation changes arising from the TDRs to or from a particular parcel. The County shall notify the County Assessor of the transfer or purchase of TDRs within thirty (30) days of any of the following:
Recordation of a TDR Agreement and TDR Sending Area Plat;
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 Transferrable Development Rights (TDR) Bank.
The Board has established a County TDR Bank via resolution.
The County TDR Bank Administrator shall be appointed by the County Manager and shall have the power and authority to negotiate a purchase and/or sale of development rights, subject to the approval of the Board.
The County TDR bank may, for conservation or other purposes, hold indefinitely any TDRs it possesses.
Funding, Management.
The County TDR 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 TDRs by the County TDR 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 TDR5bank, 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.
Development Transfer Charge Option.
Development Transfer Charges (DTCs) are payments in lieu of TDRs that provide the same adjustments to Receiving Area base standards as TDRs and at the same ratios as TDRs. This option is available only if there are no TDRs in the TDR Bank.
In lieu of the TDRs that would otherwise be required to approve a proposed development, a Receiving Area developer using the DTC Option shall submit a DTC payment determined by multiplying the number of required TDRs times the sales price established for each TDR through the TDR Bank.
DTC payments shall be made prior to recordation of the final plat on the Receiving Area.
DTC payments shall be used exclusively to acquire TDRs on land qualified as Sending Areas under the provisions of Section
12.14 to include costs incurred in confirming the qualifications of a proposed Sending Area and recording permanent and enforceable restrictions on the Sending Area.
See
§ 12.14: TRANSFER OF DEVELOPMENT RIGHTS for more detailed information.
