Drafter
Clerk 08/13/2009
Title
AN ORDINANCE authorizing the King County executive to enter into an interlocal agreement with the city of Bellevue to implement a regional program to transfer development rights from lands in priority King County rural and resource areas into the city of Bellevue's Bel-Red Subarea.
Body
STATEMENT OF FACTS:
1. King County adopted a transfer of development rights ("TDR") program in 2001 to permanently preserve rural and resource lands by transferring rural development potential into existing incorporated and unincorporated urban areas; since 2001 the King County TDR program has protected one hundred forty-one thousand four hundred fifteen acres of rural and resource lands.
2. King County has worked with the city of Bellevue to develop a means by which King County TDRs may be used for increased density within the Bel-Red Subarea to achieve conservation of rural and resource lands outside the countywide Urban Growth Boundary.
3. The city of Bellevue, by Ordinance 5874, recently amended its Land Use Code to allow the Bel-Red Subarea to be a receiving site for King County TDRs, subject to an adopted interlocal agreement with King County that will provide the city with seven hundred fifty thousand dollars in conservation futures tax levy ("CFT") funds as a critical financial incentive for the city to accept rural development rights and help the city create open space and park amenities in the Bel-Red neighborhood where TDR-related development is occurring.
4. King County's 2007 Budget Ordinance, Ordinance 15652, appropriated CFT funding for the King County TDR program, through CFT Project number 315620, to provide amenity funds to cities that act as receiving sites for rural TDRs. These funds are designated for the acquisition of open space in cities as part of TDR interlocal agreements to create economic incentives for cities to accept additional density and simultaneously protect King County's rural and resource areas.
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