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| McConnell, Virginia D.; Kopits, Elizabeth; Walls, Margaret. |
| This paper examines transferable development rights (TDRs) policies as a way to preserve farmland and change the density of development. Characteristics of TDR markets are described, including why they might promote efficiency, and the difficulties that arise in implementing them. Evidence from an established TDR program in Calvert County, Maryland, is used to assess the potential for TDRs to influence subdivision density, and to achieve local land preservation goals. The Calvert program has succeeded in creating an active and stable TDR market, and has therefore preserved a large amount of farmland in the region. But we find that the demand for additional density permitted with TDRs occurs mostly in rural areas and not in the higher density town centers... |
| Tipo: Journal Article |
Palavras-chave: Land preservation; Development; Markets; Density; Land Economics/Use. |
| Ano: 2005 |
URL: http://purl.umn.edu/10240 |
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| McConnell, Virginia D.; Kopits, Elizabeth; Walls, Margaret. |
| Transferable development rights (TDRs) can be used as a local planning tool to preserve land for particular uses. TDRs separate ownership of the right to develop land from ownership of the land itself, creating a market in which the development rights can be bought and sold. Landowners who sell TDRs permanently preserve their land in an undeveloped state; those TDRs are then used to increase the density of development elsewhere. In this paper, we evaluate a TDR program for preserving farmland in Calvert County, Maryland. We evaluate the performance of the TDR market over the 23-year life of the program by looking at the number of transactions and TDRs sold and the level and dispersion of prices over time. We also look closely at the influence of the county... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Land use; Farmland preservation; Development rights; Land Economics/Use; Q15; Q24; R140. |
| Ano: 2003 |
URL: http://purl.umn.edu/10659 |
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| Kopits, Elizabeth; McConnell, Virginia D.; Walls, Margaret. |
| Many economists see current land use patterns as inefficient due to various market failures, and planners argue that current patterns do not follow sound planning practice. One policy of interest to both groups is transferable development rights (TDR). TDRs allow the development rights from land that is preserved in an undeveloped state to be transferred to other areas where development can be made denser. This paper addresses one of the greatest difficulties TDR programs face-insufficient demand. We develop a simple theoretical model and estimate a TDR demand function using data from Calvert County, Maryland, one of the only regions where data on individual sales are available. We find that baseline zoning is a critical determinant of TDR demand- demand... |
| Tipo: Working or Discussion Paper |
Palavras-chave: TDRs; Density; Zoning; Subdivisions; International Development; R14; R52; R21. |
| Ano: 2005 |
URL: http://purl.umn.edu/10880 |
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| McConnell, Virginia D.; Walls, Margaret; Kopits, Elizabeth. |
| Many communities on the urban fringe are implementing a range of policies to preserve farmland and open space, cluster residential development, and guide development to areas with existing infrastructure. These efforts are an attempt to control overall growth and the concomitant loss in open space and also to counter a trend toward the so-called large lot development that often takes place in these areas. Planners have argued that policies to manage density are the most important local policy focus for urban areas in the coming years. It is possible that large lot development and sprawl are themselves the result of government policy. Most local governments use zoning to establish minimum acreage requirements for each residential dwelling unit; in ex-urban... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Housing density; Zoning; Transferable development rights; Public Economics; R14; R15; R52. |
| Ano: 2005 |
URL: http://purl.umn.edu/10490 |
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