Transfer of Development Rights

Sensitive environmental land can be preserved without the expenditure of public dollars by transferring the development rights on private property to other locations where development is anticipated, known as the Transfer of Development Rights (“TDR”).

 

The TDR process can enhance a development by allowing development to proceed or otherwise increase in density while protecting environmentally-sensitive land where the property owner receives compensation for preserving their property.  A developer can appreciate obtaining TDRs given that the development rights that are obtained will allow a project to proceed and potentially allow for increased density. Several municipalities now have TDR programs that Rigano LLC has successfully addressed on numerous occasions.