In order to sell or transfer development rights for the purpose of increasing floor area ratio or density in a designated receiving area, the following procedure must be followed:

A. To sever development rights approved by the city, the property owner shall execute a restrictive easement between the owner and the city or a tax-exempt organization or other governmental agency, in a form approved by the city.

B. The certificate of development rights and the restrictive easement shall be recorded by the owner with the Kitsap County auditor. The owner shall provide a copy of the recorded documents to the city. When the documents have been recorded and the recorded documents have been received by the city, the severance is complete.

C. The severance of development rights is permanent. (Ord. 2011-02 § 2 (Exh. A), 2011)