Chapter 4.99
TRANSFER OF DEVELOPMENT RIGHTS FUND

Sections:

4.99.010    Establishment of fund.

4.99.020    Purpose of fund.

4.99.030    Source of resources.

4.99.040    Fund manager.

4.99.050    Severability.

4.99.010 Establishment of fund.

There is hereby created a special fund to be known as the transfer of development rights fund, or TDR fund.

(Added Ordinance No. 05-041, July 6, 2005, Eff date July 24, 2005)

4.99.020 Purpose of fund.

The purpose of the TDR fund is to support County purchases and sales of certified development rights, as such rights are defined by SCC 30.91C.065, pursuant to the authority granted by SCC 30.35A.130. Certified development rights acquired by the county shall be held for the account of the TDR fund pursuant to SCC 30.35A.130(3). Proceeds from the sale of certified development rights by the county shall be deposited into the TDR fund pursuant to SCC 30.35A.130(4)(d). Monies deposited in the TDR fund may be used to pay TDR administrative costs.

(Added Ord. 05-041, July 6, 2005, Eff date July 24, 2005)

4.99.030 Source of resources.

Certified development rights acquired by the county shall be held for the account of the TDR fund, which shall contain any proceeds realized from the sale of such rights as well as other revenues as the county council may from time to time direct.

(Added Ord. 05-041, July 6, 2005, Eff date July 24, 2005)

4.99.040 Fund manager.

The TDR fund shall be managed by the director of planning and development services, or his or her designee, pursuant to SCC 4.05.050. The name of the fund manager shall appear on a master list maintained by the department of budget and finance.

(Added Ord. 05-041, July 6, 2005, Eff date July 24, 2005)

4.99.050 Severability.

If any provision of this chapter or its application to any person or circumstance is held to be invalid, such decision shall not affect the validity of the remaining portions of this chapter or its application to other persons or circumstances.

(Added Ord. 05-041, July 6, 2005, Eff date July 24, 2005)