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Santa Fe County lists 43 TDR certificates at $22,000 and orders review of demand-side reforms
Summary
After a broad briefing on the county’s transfer‑of‑development‑rights program, the commission voted to list 43 county‑owned TDR certificates on a new marketplace at $22,000 each and to set the in‑lieu development transfer charge at the same price while directing staff to pursue code changes to grow demand.
Santa Fe — Following a lengthy market presentation and debate about supply, demand and local water constraints, the County Commission on April 28 approved listing 43 county‑owned Transfer‑of‑Development‑Rights (TDR) certificates for sale at $22,000 each and set the matching development transfer charge at the same amount.
Planning staff presented a market analysis showing a current oversupply — roughly 337 certificates available versus 22 in demonstrated demand — and highlighted structural barriers on the receiving side (zoning limitations, limited infrastructure in eligible receiving zones, parking and conditional‑use requirements) that lower developer appetite for buying certificates.
“More than 90 percent of building permits in the county in recent years have been low‑density single‑family homes,” planner Herbert Foster told the board. He and a consultant recommended listing the county certificates on a newly built TDR marketplace and pursuing a package of code reforms to encourage higher‑density development where infrastructure exists.
After commissioners discussed water availability, the potential for tiered certificate types and guardrails to prevent undesirable uses, the board approved a motion to list the county’s 43 certificates at $22,000 and set the development transfer charge at the same figure. Commissioners asked staff to prioritize demand‑side changes—including by‑right multifamily provisions, parking standard flexibility and discussions with the City of Santa Fe about receiving areas—before the county pursues more supply-side conservation purchases.
The action creates a county‑owned listing and a price signal to the market while leaving broader land‑use code reform to a follow‑up process with public hearings and legal review.
