D.C. Mun. Regs. tit. 11, r. 11-I901
Ownership of credits as acknowledged by the Zoning Administrator through a covenant required pursuant to Subtitle I, § 805 (for residential, arts, or preferred uses) and Subtitle I § 807 (for historic preservation) hereinafter collectively referred to as the "Credit Covenant" or acknowledged through the issuance of a Certificate of Credit Conversion pursuant to Subtitle I § 806 may be transferred by the owner of such credits at any time to any entity or individual for use on property owned by such entity or individual or for later retransfer to a property pursuant to Subtitle I § 902, provided that the property receiving the credit is located in an eligible trade area.
A transfer of credit ownership is not effectuated until the Zoning Administrator issues a Certificate of Credit Transfer and that certificate is recorded in the land records of the District of Columbia pursuant to the procedures set forth in this section.
A request for a Certificate of Credit Transfer shall be made by the owner of the credits and the entity or individual to whom the credits are to be transferred hereinafter collectively referred to as "the applicant", and shall include:
A request for a Certificate of Credit Transfer may be made at the same time as the Credit Covenant is being reviewed, provided that the Credit Covenant must be recorded in the land records prior to or simultaneously with the Certificate of Credit Transfer.
The Zoning Administrator, in his or her discretion, may request the General Counsel of the Department of Consumer and Regulatory Affairs or the Office of Zoning Legal Division to undertake a legal sufficiency review of the draft Certificate of Credit Transfer.
If approved, the Certificate of Credit Transfer shall be signed by the Zoning Administrator.
The signature of the Mayor of the District of Columbia is not required.
The applicant, upon notification by the Zoning Administrator that the Certificate of Credit Transfer has been signed, shall take the Certificate of Credit Transfer to the Recorder of Deeds, who shall record the certificate with the lot that generated the credits, and if applicable, with the lot that is receiving the credits, and provide the applicant with two (2) certified copies of the certificate.
The applicant shall provide one (1) certified copy to the Zoning Administrator and one (1) to the Office of Planning.
The transfer shall be effective as of the recordation date of the certificate unless a later time is requested by the applicant.
If more than one (1) transfer of credits is made from a Credit Covenant or Certificate of Credit Conversion the second Certificate of Credit Transfer and all subsequent Certificates of Credit Transfers shall be numbered "two" (2) and sequentially, and each shall include the names of the transferors and transferees involved in all previous transfers, including the amount of credits transferred and the dates of recordation of each transfer.
Credits used to achieve non-residential density shall not be retransferred unless the building that utilized the additional density is destroyed or demolished; provided that any such retransfer shall divest the property of the additional density allowed by the credits.
Credits not used may be retransferred in accordance with the provisions of Subtitle I § 902.
D.C. Mun. Regs. tit. 11, r. 11-I901