Definitions for "Transfer of Development Rights"
Keywords:  tdrs, landowner, qtd, gilbert, conserve
The transfer of development rights is a mechanism by which culturally or historically significant properties, in many cases farms, significant buildings or scenic views, may be protected in perpetuity through the sale of "development rights." Typically, owners of land in development-restricted areas called "sending" districts transfer the development rights from their property and sell those rights to property owners in specified "receiving" districts.
An administrative program or regulatory procedure by which an owner of environmentally sensitive land sells the land's development potential to an owner of land where higher density development is desirable.
A mechanism whereby sensitive areas may be preserved by allowing property owners to sell development rights to another to be used in areas defined as growth centers.