Celebration of First TDR Transaction in Tacoma, July 11, 2016
Join us for the excitement of the "History in the Making" celebration of the first TDR transaction in Tacoma.
Time: Monday, July 11, 2016, 11:00 a.m. - 12:00 noon
Location: 102 N. G Street, Tacoma, WA 98403
This transaction represents the preservation of 20 of the 120-acre prime farmland preserved in perpetuity in Pierce County (Reise Farm) and the increase of 21 units to be added to the Stadium Apartments project in Tacoma.
For more information, please view the invitation postcard below:
City Council Adoption
The City Council adopted 3 important legislations in September 2012 to implement the Transfer of Development Rights (TDR) Program in Tacoma, as posted below:
Scope of Work
See the summary presented in the contract posted below. The City received a $109,000 grant from the Federal Environmental Protection Agency for the project.
Tacoma TDR Grant Contract
Project Timeline
2011 - 2012
What is TDR?
Transfer of development rights (TDR) is a market-based tool for helping implement a jurisdiction's growth policies. Through individual transactions, development rights are transferred from privately owned farmland, forestland, and natural areas (known as
sending sites) to areas that can accommodate additional growth (known as
receiving sites). Landowners in sending areas receive compensation for giving up their right to develop, while developers in receiving areas pay for the right to develop at greater densities or heights than would otherwise be allowed.
What is Residual Land Value?
Residual Land Value is the capital available to acquire a development site after accounting for anticipated developments costs, net operating incomes and returns on investment. For more information, please review the document below:
About Residual Land Value
Staff Contact