Redundancy factor (Rho) is assigned to a structure as per ASCE 7-10 Section 12.3.4, in connection with the seismic design of structures. It is employed in calculating the 'horizontal seismic load effect, Eh', according to ASCE 7 section 12.4.2.1. The purpose of using this factor, may be clear from the following link:
http://skghoshassociates.com/SKGAblog/viewpost.php?id=20
On the other hand, SDS is the design spectral response acceleration parameter at short periods. It is used in determination of the 'vertical seismic load effect, Ev', as required by ASCE section 12.4.2.2. Applicable value of SDS may be obtained from ASCE section 11.4.4.
For more details, you may refer to the Seismic Design Guide to ASCE 7-10 (http://www.asce.org/templates/publications-book-detail.aspx?id=9446) or the structural design books dealing with seismic design of buildings (similar to the one referred by Rana Waseem).
Regards.