ARIZONA DAILY STAR: Thurs., Dec. 7, 2006
Transfer of development rights: how it works
The county's voluntary pilot program would allow landowners in specific areas to sell their rights to build homes on their property, which are called sending areas. Those rights can then be bought by developers in designated locations — called receiving areas — who can beef up the number of homes they plan to build without going through a formal rezoning process.
For example, a land owner living in a sending area could sell the development rights for three homes to a developer in a receiving area. The developer could then build three extra homes without having to go through a formal rezoning. The development rights, which would be traded much like stocks, would be overseen by county Development Services.
A property owner in a receiving area would approach Development Services asking that some development rights be severed from the property. The department would determine how many development rights the property owner has.
The property owner would give up how ever many development rights he or she chose. The rights would be severed from the property forever, as a restricted covenant would become part of the land deed.
A developer in a receiving area would buy the rights from the property owner. The developer could then boost the number of homes in a development without going through a rezoning.