Monday, 21 November 2011

Transfer of Development Credits

Transfer of Development Credit (TDC) programs are similar to Transfer of Development Rights  (TDR) programs widely used throughout the United States. TDCs allow municipalities to direct development away from areas which are threatened by development, and toward more suitable areas, using a municipal planning framework that allows development potential to be bought and sold on the open market, and perpetually extinguished on the valued landscapes. Landowners in designated 'sending areas' are able to sever and sell their development potential to landowner/developers in a designated 'receiving area', who in turn are able to increase development density beyond the base amount allowed by zoning. Sending area parcels receive long-term protection through a deed-restricting mechanism which limits certain activities.
There are several municipalities in Alberta exploring this opportunity, including Red Deer County and the MD of Bighorn.  Thanks to the Miistakis Institute for the Rockies for the supporting background information and documentation