Transfer of Development Rights: Difference between revisions

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On October 3, 2006, Albemarle County Supervisor [[David Slutzky]] launched what he describes as a new rural area protection initiative for the county based on the Transfer of Development Rights<ref> http://cvilletomorrow.typepad.com/charlottesville_tomorrow_/2006/10/transdevrights.html Charlottesville Tomorrow, retrieved on 1/12/09</ref>. The proposal would establish a system of exchange, allowing rural landowners to sell unused development potential to other landowners within a designated receiving area.  
On October 3, 2006, Albemarle County Supervisor [[David Slutzky]] launched what he describes as a new rural area protection initiative for the county based on the Transfer of Development Rights<ref> http://cvilletomorrow.typepad.com/charlottesville_tomorrow_/2006/10/transdevrights.html Charlottesville Tomorrow, retrieved on 1/12/09</ref>. The proposal would establish a system of exchange, allowing rural landowners to sell unused development potential to other landowners within a designated receiving area.  


In order to encourage such a trade, Slutsky's proposal included two components. The receiving area would be slightly larger (6% of total land) than the current [[designated growth area]] of Albemarle county (5%), potentially creating more demand for purchasing credits. At the same time, the rural areas would be downzoned from 1 house per 21 acres to one house per 50 acres. The landowners facing downzoning would receive, from the county, a credit for the difference in development potential, thus creating an initial surge in supply for the market.
In order to encourage such a trade, Slutzky's proposal included two components. The receiving area would be slightly larger (6% of total land) than the current [[designated growth area]] of Albemarle county (5%), potentially creating more demand for purchasing credits. At the same time, the rural areas would be downzoned from 1 house per 21 acres to one house per 50 acres. The landowners facing downzoning would receive, from the county, a credit for the difference in development potential, thus creating an initial surge in supply for the market.


The Albemarle County [[Board of Supervisors]] officially heard Slutsky's proposal during their December 6, 2006 meeting<ref>http://cvilletomorrow.typepad.com/charlottesville_tomorrow_/2006/12/tdr_proposal.html Charlottesville Tomorrow, retrieved on 1/12/09</ref>
The Albemarle County [[Board of Supervisors]] officially heard Slutzky's proposal during their December 6, 2006 meeting<ref>http://cvilletomorrow.typepad.com/charlottesville_tomorrow_/2006/12/tdr_proposal.html Charlottesville Tomorrow, retrieved on 1/12/09</ref>. The supervisors did not grant their support with a vote, but encouraged more study.
 
On January 1st, 2007, General Assembly delegate [[David Toscano]] filed enabling legislation that would allow, from the state level, a county to enact TDR legislation.<ref> http://cvilletomorrow.typepad.com/charlottesville_tomorrow_/transfer_of_development_rights/ Charlottesville Tomorrow, retrieved on 1/12/09</ref>
 
The proposal generated discussion from local leaders over the course of the year, becoming one of the issues of the 2007 Board of Supervisors election.




== Notes ==
== Notes ==
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Revision as of 14:06, 12 January 2009

Transfer of a Development Rights (TDR) is a growth-management strategy that establishes a market for the exchange of development rights between property owners. Property owners in a growth-restricted area are issued credits in compensation for any loss in development rights. These credits can be sold to property owners in specifically designated receiving areas, where they can be used to develop at higher densities than regulations would otherwise allow. The goal of a TDR strategy is to maintain fairness between landowners, while allowing a governing authority to manage land use.

Albemarle County study

On October 3, 2006, Albemarle County Supervisor David Slutzky launched what he describes as a new rural area protection initiative for the county based on the Transfer of Development Rights[1]. The proposal would establish a system of exchange, allowing rural landowners to sell unused development potential to other landowners within a designated receiving area.

In order to encourage such a trade, Slutzky's proposal included two components. The receiving area would be slightly larger (6% of total land) than the current designated growth area of Albemarle county (5%), potentially creating more demand for purchasing credits. At the same time, the rural areas would be downzoned from 1 house per 21 acres to one house per 50 acres. The landowners facing downzoning would receive, from the county, a credit for the difference in development potential, thus creating an initial surge in supply for the market.

The Albemarle County Board of Supervisors officially heard Slutzky's proposal during their December 6, 2006 meeting[2]. The supervisors did not grant their support with a vote, but encouraged more study.

On January 1st, 2007, General Assembly delegate David Toscano filed enabling legislation that would allow, from the state level, a county to enact TDR legislation.[3]

The proposal generated discussion from local leaders over the course of the year, becoming one of the issues of the 2007 Board of Supervisors election.


Notes