OAR 660-029-0050
Process for Creating Transferable Development Credits
(1)
An applicant may apply to a county that has established a M49 TDC system under OAR 660-029-0020 (County Authority to Establish a M49 TDC System) to convert dwelling authorizations under M49 into TDCs. The county shall evaluate the application based on the locally-adopted M49 TDC ordinance and this division to determine whether the dwelling authorizations under M49 are eligible for conversion to TDCs, and how many credits will be created, including any bonus credits.(2)
When a county preliminarily approves an application, the county will:(a)
Send notice to the department, including the application, the preliminary approval, any proposed restrictive covenant and any proposed conservation easement; and(b)
Request an Amended Final Order and TDC certificates from the department.(3)
The department will review the county request and determine its consistency with this division. If consistent, the department will:(a)
Issue an Amended Final Order documenting the number of dwelling authorizations under M49 that have been converted to TDCs and the number that remain; and(b)
Issue the applicable number of TDC certificates to the county.(4)
If an applicant applies to convert dwelling authorizations under M49 to TDCs from a property that has already been divided pursuant to M49, then the partition or subdivision must be vacated by the county prior to final approval.(5)
If an applicant receives preliminary approval for bonus credits under OAR 660-029-0040 (Calculation and Types of Transferable Development Credits), the applicant must convey a conservation easement or place a restrictive covenant on the property that meets the requirements of OAR 660-029-0060 (Protection of Sending Properties), record it with the county clerk and provide a copy to the county, prior to final approval.(6)
The Amended Final Order must be recorded in the deed records of the county.(7)
When all of the requirements of this rule have been met, the county shall give final approval, issue the TDC certificates to the applicant and provide the complete record of the decision to the department.(8)
The county will keep a permanent record of amended final orders, vacations, restrictive covenants and conservation easements that apply to M49 sending properties to ensure that unauthorized development does not occur.
Source:
Rule 660-029-0050 — Process for Creating Transferable Development Credits, https://secure.sos.state.or.us/oard/view.action?ruleNumber=660-029-0050.