§ 4.08.04. Implementation of Stewardship Credits

A.

Establishment of a Stewardship Credit Database. As part of the initial implementation of the RLSA Overlay, the County Manager or designee shall cause to be developed a Stewardship Credit Database to track the generation (by SSAs) and consumption (by SRAs) of Stewardship Credits within the RLSA District. The database shall be in an electronic form that can be linked to the RLSA Overlay Map and can readily produce reports that will afford convenient access to the data by the public. The database shall be updated upon approval of an SSA or SRA Designation Application and Credit Agreement.

B.

Authorization to Establish a Stewardship Credit Trust. As part of the implementation of the RLSA Overlay, the County may elect to acquire Credits through a publicly funded program. Should the County pursue this option, the County shall establish a Stewardship Credit Trust to receive and hold Credits until such time as they are sold, transferred or otherwise used to implement uses within SRAs. Nothing herein shall preclude the County from permanently "retiring" those credits received or held.

C.

Density. Except as provided in herein, there shall be no change to the underlying density and intensity of permitted uses of land within the RLSA District, as set forth in the Baseline Standards, until a property owner elects to utilize the provisions of the Stewardship Credit System pursuant to the provisions of Section 4.08.04. No part of the Stewardship Credit System shall be imposed upon a property owner without that owner's written consent. It is the intent of the RLSA District Regulations that a property owner will be compensated consistent with Policy 3.8 of the RLSA Overlay for the voluntary stewardship and protection of important agricultural and natural resources. The Baseline Standards will remain in effect for all land not subject to the transfer or receipt of Stewardship Credits.

D.

Creation of Stewardship Credits/General. Stewardship Credits (Credits) may be created from any lands within the RLSA District from which one or more Land Use Layers are removed. These lands will be identified as SSAs. All privately owned lands within the RLSA District are candidates for designation as an SSA. Land becomes designated as an SSA upon petition by the property owner seeking such designation as outlined herein. A Stewardship Agreement shall be developed that identifies those land uses, which have been removed. Once land is designated as an SSA and Credits or other compensation is granted to the owner, no increase in density or additional uses that are not expressly identified in the Stewardship Agreement shall be allowed on such property.

E.

Transfer of Stewardship Credits/General. Credits can be transferred only to lands within the RLSA District that meet the defined suitability criteria and standards set forth in Section 4.08.07 A.1. and that have been designated as SRAs. The procedures for the establishment and transfer of Credits and SRA designation are set forth herein. Stewardship Credits will be exchanged for additional residential or non-residential entitlements in an SRA on a per acre basis. SRA density and intensity will thereafter differ from the Baseline Standards.

F.

Allocation of Stewardship Credits/General. Stewardship Credits generated from one SSA may be allocated to one or more SRAs, and an SRA may receive Stewardship Credits generated from one or more SSAs.

G.

Five Year Comprehensive Review.

1.

Many of the tools, techniques, and strategies of the RLSA Overlay are new, innovative, and incentive-based and have yet to be tested in actual implementation. Consequently, by June 2008 and at such subsequent times as deemed appropriate by the BCC, the County shall prepare and submit to DCA for review a comprehensive analysis of the RLSA Overlay to assess the participation and effectiveness of the RLSA Overlay implementation in meeting the Goals, Objectives, and Policies of the RLSA Overlay by utilizing the measures of review delineated in Policy 1.22. The County shall encourage public participation in the review process through publicly noticed workshops and meetings and through the solicitation of public input.

2.

Subsequent to the June 2008 review, the RLSA Overlay and RLSA District Regulations may be amended in response to the County's assessment and evaluation of the participation in and effectiveness of the Stewardship Credit System.

3.

The value, exchange rate, and use of Stewardship Credits shall be governed by the RLSA Overlay and RLSA District Regulations in effect at the time the SSA from which those credits are generated is approved. The Restoration Stewardship Credits shall be governed by the RLSA Overlay and RLSA District Regulations in effect at the time that such Restoration Stewardship Credits are authorized by the BCC.