Transfer of Development Rights

Description: Transfers of development rights (TDRs) allow landowners in areas planned for very limited development (sending areas) to sever the development rights from their land and sell them to buyers who want to develop at higher-than-allowed densities in areas designated for growth (receiving areas). This process is market driven – buyers and sellers voluntarily choose to participate in the process and negotiate a purchase price. Benefits to the community include more development in areas designated for growth and permanent restrictions on development in areas designated for preservation or resource protection. This chapter of the Implementation Manual introduces the concept of TDRs and how they can be used by Vermont municipalities.

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Source:
Vermont Land Use and Education Collaborative

Date: 2007
Format: Website

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