Transfer of Development Rights

New York’s transfer of development rights statute for villages authorizes villages to establish transfer of development rights (TDR) programs. It requires programs to include the following components: evaluation of existing conditions, legislative review, developing an environmental impact statement, producing maps of sending and receiving areas, establishing transfer procedures, and the issuance of conservation easements when a transfer has occurred. It also requires TDR programs to be consistent with the local comprehensive plan, elaborates on the valuation of land, and permits TDR banks.