Regional Development Credits Program
Seattle Mun. Code § 23.58A.044
in effectA. Scope and applicability. This Section 23.58A.044 contains standards for acquiring regional development credits when use of the credits is authorized by other Title 23 provisions. B. Process. To achieve extra floor area by acquiring regional development credits, applicants shall acquire and extinguish certified regional development credits that originate from property located in King, Pierce, or Snohomish counties according to the standards of this Section 23.58A.044 . C. Initial Ratios. Except as provided in subsection 23.58A.044.C, applicants shall receive either an amount of extra residential floor area listed in Table A for 23.58A.044 or an amount of extra nonresidential floor area listed in Table B for 23.58A.044 for each regional development credit acquired and extinguished. Table A for 23.58A.044 Regional Development Credit Exchange Ratios - Residential County of Origin Type of Credit Square Feet per Credit King Agricultural credit 1,640 Forest or Rural credit, provided the entire proceeds from the sale shall be used to purchase new agricultural credits 1,500 Pierce Agricultural credit 420 Forest credit, provided the entire proceeds from the sale shall be used to purchase new agricultural credits 860 Snohomish Agricultural credit 980 Forest credit, provided the entire proceeds from the sale shall be used to purchase new agricultural credits 860 Table B for 23.58A.044 Regional Development Credit Exchange Ratios - Nonresidential County of Origin Type of Credit Square Feet per credit King Agricultural credit 1,120 Forest or Rural credit, provided the entire proceeds from the sale shall be used to purchase new agricultural credits 1,030 Pierce Agricultural credit 290 Forest credit, provided the entire proceeds from the sale shall be used to purchase new agricultural credits 590 Snohomish Agricultural credit 670 Forest credit, provided the entire proceeds from the sale shall be used to purchase new agricultural credits 590 D. Exchange Ratios after first 200 credits extinguished. When the first 200 regional development credits have been extinguished to the satisfaction of the Director as provided in subsection 23.58A.044.G, Table A and Table B for 23.58A.044 shall no longer have effect and applicants shall, for each regional development credit acquired and extinguished, receive an amount of extra residential floor area listed in Table C for 23.58A.044 or an amount of extra nonresidential floor area listed in Table D for 23.58A.044. Table C for 23.58A.044 Regional Development Credit Exchange Ratios - Residential County of Origin Type of Credit Square Feet per credit King Agricultural credit 1,640 Forest or Rural credit, provided the entire proceeds from the sale shall be used to purchase new agricultural credits 1,500 Forest or Rural credit 1,020 Pierce Agricultural credit 420 Forest credit 800 Snohomish Agricultural credit 980 Forest credit 800 Table D for 23.58A.044 Regional Development Credit Exchange Ratios - Nonresidential County of Origin Type of Credit Square Feet per credit King Agricultural credit 1,120 Forest or Rural credit, provided the entire proceeds from the sale shall be used to purchase new agricultural credits 1,030 Forest or Rural credit 700 Pierce Agricultural credit 290 Forest credit 550 Snohomish Agricultural credit 670 Forest credit 550 E. Certification. Regional development credits shall be certified by King, Pierce, or Snohomish County as being eligible for transfer under the regional development credit program adopted by the county that is certifying the credits. F. Prerequisite for issuing development permits. A building permit shall not be issued for a development that includes bonus floor area obtained through regional development credits until the applicant demonstrates to the satisfaction of the Director that the owner of the property being developed owns the regional development credits used to obtain the bonus floor area according to documentation issued by the county where the credits originated from. G. Prerequisite for issuing a certificate of occupancy. A certificate of occupancy shall not be issued for a development that includes bonus floor area obtained through regional development credits until the applicant demonstrates to the satisfaction of the Director that the regional development credits have been extinguished according to documentation issued by the county where the credits originated from. H. Proceeds from sale 1. In order to demonstrate the entire proceeds from the sale of credits will be used to purchase new agricultural credits under subsection 23.58A.044.C or 23.58A.044.D, the applicant shall demonstrate that the Forest or Rural credits were purchased from a county or non-profit entity that provides documentation to the Director that the entire proceeds from the sale of the Forest or Rural credits have been: a. Expended for the purchase of new Agricultural credits that meet the requirement of subsection 23.58A.044.E and that were purchased from property owners owning agricultural property located in the same county where the Forest or Rural credits originated from; or b. Placed in a segregated account subject to the restriction that the funds in the account shall only be used for purchasing new Agricultural credits from property owners owning agricultural property located in the same county where the Forest or Rural credits originated from. 2. In the case of subsection 23.58A.044.H.1.b, the account holder shall annually provide, within 30 days after the end of each calendar year, a report to the Director demonstrating: a. The sources and uses of funds in the account; and b. The funds in the account have only been used for directly purchasing new Agricultural credits from property owners owning agricultural property located in the same county where the Forest or Rural credits originated from. This reporting obligation shall end when the entity holding the funds demonstrates to the Director that all funds held by the entity for acquiring credits have been expended. I. The Local Infrastructure Project Area for Downtown and South Lake Union is as shown on Map A for 23.58A.044. J. In order to implement this program cooperatively with Snohomish and Pierce Counties, The City of Seattle adopts by reference the TDR terms and conditions in chapter 365-198 WAC to facilitate the transfer of development rights from these counties to Seattle. Map A for 23.58A.044 Local Infrastructure Project Area boundary for Downtown and South Lake Union (Ord. 126455 , § 1, 2021; Ord. 124843 , § 51, 2015; Ord. 124287, § 7, 2013; Ord. 124172, § 62, 2013.)
Source: Seattle Municipal Code (Municode library)URL: https://library.municode.com/wa/seattle/codes/municipal_codeFetched: 7/25/2026