1 / 23

Transfer of Development Rights (TDR)

Transfer of Development Rights (TDR). Transfer of Development Rights. A way of dealing with rights instead of land. possession exclusion transfer compensation economic gain. Transfer of Development Rights. TDR creates an incentive-based approach to land conservation

ksena
Télécharger la présentation

Transfer of Development Rights (TDR)

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Transfer of Development Rights(TDR)

  2. Transfer of Development Rights • A way of dealing with rights instead of land • possession • exclusion • transfer • compensation • economic gain

  3. Transfer of Development Rights • TDR creates an incentive-based approach to land conservation • Conserving farmland and / or open space • Sensitive areas • Green belts • No mandates for implementation • A framework for a market-based approach to protecting land from excess development

  4. Transfer of Development Rights • Requires enabling legislation of some sort in most states • State delegating power to localities • Localities then create a market • The market consists of rights to develop • These rights are transferred from seller to buyer • The market is managed either by the locality or by a broker designated by the locality

  5. Transfer of Development Rights • Basic Elements: Sending and Receiving Areas • Sending Areas • Areas intended to be preserved • Area may or may not be restricted through zoning or other development regulation • Owners in sending areas sell all or some of their rights to develop • The economic gain from sale compensates owner for restricted land use regulation • A deed restriction prohibits development on subject property permanently

  6. Transfer of Development Rights • Basic Elements: Sending and Receiving Areas • Receiving Areas • Areas in which purchased development rights are exercised • Intended to focus development in critical areas (redevelopment, growth centers) • Development rights allow purchasers to go beyond existing land use regulations

  7. Transfer of Development Rights

  8. sending receiving

  9. sending receiving

  10. Transfer of Development Rights • What makes a TDR program effective? • Ease of Understanding • Managed Growth • Adequate Incentives • Careful Management

  11. Transfer of Development Rights • Ease of Understanding • Simple for everyone to understand • Buyers, sellers, citizens at-large: all participants • Creates strong political commitment • Takes time to become successful • Must be mandatory rather than voluntary

  12. Transfer of Development Rights • Managed Growth • Must be part of an overall comprehensive planning process • Vision of future • Strong (some say inflexible) zoning ordinance • Fit TDRs into public’s expectations • Plan must include rational areas for sending and receiving development rights (to include not only patterns of development, but infrastructural support for that development)

  13. Transfer of Development Rights • Adequate Incentives • Incentives for “senders” to sell their rights • Value should be predictable • Incentives for “receivers” to buy rights • Development rights should be easier to obtain than variances or special use permits

  14. Transfer of Development Rights • Careful Management • Transactions • TDR Bank • Setting “floors” during slow economic periods • Providing a broker through which unsophisticated sellers and buyers can do business • Land use terrain • Public Relations

  15. TDRs in Practice • Pinelands, NJ • Regional authority • Pinelands Commission

  16. TDRs in Practice • The Pinelands

  17. TDRs in Practice • Pinelands Commission • Regional Agency in S.E. New Jersey • Jurisdiction over 52 municipalities and 7 counties • Required a Comprehensive Management Plan (CMP) • Developed an inter-municipality density exchange • 1996 amendment to Municipal Land Use Law

  18. TDRs in Practice • Pinelands, NJ • Allows developers to meet minimum lot size & density requirements • Uses off-site lands as sending areas (“out lots”) • Density sent to receiving areas (“mother lots”) • Used in place of variances • Used within and between zones in the commission’s jurisdiction

  19. TDRs in Practice • Pinelands, NJ • Receiving areas • Should be next to or within already developed areas • Should be near existing infrastructure • Should not be located in environmentally sensitive areas

  20. TDRs in Practice • Pinelands, NJ • Sending Areas • Localities determine what they want preserved • Scattered preservation not advised • Encourage diversity of sending property owners

  21. TDRs in Practice • Pinelands, NJ • Maintenance of out parcel • Use on lots is diminished / limited but not banned completely via TDRs • Agriculture, forestry & passive recreation encouraged • May need to link sending and receiving lots via ownership (by deed)

  22. TDRs in Practice • Pinelands, NJ • Tax Complications • How liable is the owner of the “mother lot”? • Who acts as steward for “out lot”? • Neighbor • Neighborhood • Conservancy group • Satellite parcels may be linked by tax office

  23. TDRs in Practice • Pinelands, NJ • Easement vs. Fee Simple Purchase • Fee Simple ownership is outright ownership • Good for parcels owned by individuals • Bad for parcels owned by groups (POAs, HOAs) • Easements • Difficult to manage, because rights are split between legal entities

More Related