D.C. Mun. Regs. tit. 11, r. 11-I806
Current through Register Vol. 71, No. 50, December 13, 2024
Rule 11-I806 - GENERATION AND CERTIFICATION OF CREDITS FOR TDR OR CLD CONVERSION806.1 Any Unallocated TDR or CLD Rights as described in Subtitle I § 800.3, or as considered such under Subtitle I § 800.5 shall convert to credits at a rate of one-to-one (1:1).
806.2 The conversion of Unallocated TDR and CLD Rights shall be effectuated through the issuance by the Zoning Administrator of a Certificate of Credit Conversion. When a property has generated both Unallocated TDR and CLD Rights, separate certificates are required for each type of conversion.
806.3 A Certificate of Credit Conversion may be requested in writing by the individual or entity that owns the Unallocated TDR or CLD Rights. The request shall be accompanied by:
(a) A copy of the recorded TDR covenant or CLD covenants that acknowledges the generation of the unallocated rights, or in the case of an Unallocated TDR Rights recognized by Subtitle I § 800.4, the certificate of transfer that acknowledged the transfer of the TDRs sought to be converted; (b) An updated property description if the legal description of the property if such description has changed since the covenant was recorded;(c) If requested by the owner of the property that generated the Unallocated CLDs or TDR Rights, a deed identifying that person or entity as the owner;(d) If requested by a non-owner of the property, proof that the person or entity owns the Unallocated TDRs and CLD Rights, and a statement indemnifying the District of Columbia against any and all claims by persons or entities claiming to own such TDR or CLD rights;(e) For TDR's to be converted from a covenant, any certificates of transfer or re-retransfer made pursuant to the covenant and a sworn certification that no other allocations have been made other than as described in the certificates;(f) For CLDs, any other CLD covenant that allocated the CLDs to one (1) or more lots and a sworn certification that no other allocations of CLDs have been made other than as described in the first and any subsequent CLD covenants;(g) A written summary indicating the gross floor area of TDRs or CLDs acknowledged by the covenant(s), the gross floor area of any TDRs previously transferred by the attached certificates of transfer(s), the gross floor area allocated by the CLD covenant(s) to other lots, and the gross floor area that remains eligible for allocations as Unallocated TDR or CLD Rights, which are to be converted, and for which the Certificate of Credit Conversion is requested;(h) A form Certificate of Credit Transfer as described in Subtitle I § 901.3(e) to be used for any transfer of credits under the Certificate of Credit Conversion; and(i) A form Certificate of Credit Retransfer as described in Subtitle I § 902.3(d) to be used for any retransfer of credits under any Certificate of Credit Transfer.806.4 The Certificate of Credit Conversion shall be signed by the Zoning Administrator and indicate:
(a) The name and contact information for the person owning the converted Unallocated TDR or CLD Rights;(b) A description of the property that generated the converted Unallocated TDR or CLD Rights, including the trade area in which it is located;(c) The recordation information of the covenant that acknowledge the generation of the converted Unallocated TDR or CLDs;(d) The number of credits certified;(e) The trade area(s) in which certified credits may be used; and(f) The purpose(s) for which the certified credits may be used.806.5 The owner of the Unallocated TDR or CLD Rights, upon notification by the Zoning Administrator that the Certificate of Credit Conversion has been signed, shall take the Certificate of Credit Conversion to the Recorder of Deeds, who shall record the certificate the lot that generated the converted Unallocated TDR or CLD Rights and provide the owner with two (2) certified copies of the certificate.
806.6 The owner of the converted Unallocated TDR or CLD Rights shall provide one (1) certified copy of the Certificate of Credit Conversion to the Zoning Administrator and one (1) to the Office of Planning.
806.7 The Certificate of Credit Conversion shall be effective as of the recordation date of the certificate unless a later time is requested by the owner of the converted Unallocated TDR or CLD Rights.
806.8 The procedures for transferring and re-transferring credits certified by a Certificate of Credit Conversion is described in Subtitle I §§ 901 and 902.
D.C. Mun. Regs. tit. 11, r. 11-I806
Final Rulemaking published at 63 DCR 2447 (9/6/2016); amended by Final Rulemaking published at 63 DCR 10932 (9/6/2016); amended by Final Rulemaking published at 64 DCR 000022 (1/6/2017)