Transfer of Development Rights Bank
Who can sell development rights to the TDR bank?
The TDR Bank can only purchase development rights from qualified sending sites in the rural area or in agricultural or forest production districts. Sending sites within these areas may be prioritized to ensure that those sites that provide the greatest public benefits are protected with the limited public funds available to the TDR Bank.
Who can buy development rights from the TDR bank?
Development rights purchased from the TDR bank can only be used on receiving sites in urban unincorporated King County or in urban incorporated cities. An interlocal agreement must be in place between King County and a city before TDR Bank development rights may be transferred to a development project within the city. The sending site source of the development rights must also meet any additional criteria specified in the particular interlocal agreement before the rights may be applied to a development project. For example, a particular interlocal agreement may specify that the city will only accept development rights that originated from the agricultural production district. Therefore, not all of the development rights in the bank would be suitable for a project in that city.
What can amenity funds be used for?
Amenity funds are intended to help facilitate development right sales by assisting cities with infrastructure improvements needed to accommodate the extra density being transferred into an area. Before amenity funds may be spent in a city, an interlocal agreement must be in place between the city and the County. TDR amenities may include acquisition, design or construction of public art, cultural or community facilities, parks, open space, trails, roads, parking, landscaping, sidewalks, other streetscape improvements or transit-related improvements. See also TDR Code.
For questions about TDR Program please contact Darren Greve.