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Using markets for land preservation: Results of a TDR program

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  • Virginia McConnell
  • Elizabeth Kopits
  • Margaret Walls

Abstract

This paper reviews different approaches to using transferable development rights (TDRs) as a way to preserve rural lands in the face of development pressure. One TDR program is examined in detail, that of Calvert County, Maryland, which has had an active TDR market since the mid-1980s. This program uses TDRs as a key policy tool for achieving a total amount of preserved acreage in the county, and for providing incentives for preservation in some areas and development in others. The paper examines both the early difficulties in developing participation in the program, and the events that lead eventually to an active TDR market. It assesses the workings of the market including factors that influence the demand and supply of TDRs, the movement of prices over time, and the location of preserved areas and of additional developed areas. The study found that the program is achieving many of the county's land preservation goals because of the high level of activity in the TDR market. However, most of the additional density is being channeled into rural areas with underlying low-density zoning.

Suggested Citation

  • Virginia McConnell & Elizabeth Kopits & Margaret Walls, 2006. "Using markets for land preservation: Results of a TDR program," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 49(5), pages 631-651.
    • Handle: RePEc:taf:jenpmg:v:49:y:2006:i:5:p:631-651
    DOI: 10.1080/09640560600849913
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    References listed on IDEAS

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    1. Walls, Margaret & McConnell, Virginia & Kopits, Elizabeth, 2003. "How Well Can Markets for Development Rights Work? Evaluating a Farmland Preservation Program," RFF Working Paper Series dp-03-08, Resources for the Future.
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    Cited by:

    1. Somayeh Ahani & Hashem Dadashpoor, 2021. "Urban growth containment policies for the guidance and control of peri-urbanization: a review and proposed framework," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(10), pages 14215-14244, October.
    2. Woodward, Richard T., 2011. "Double-dipping in environmental markets," Journal of Environmental Economics and Management, Elsevier, vol. 61(2), pages 153-169, March.
    3. Kopits, Elizabeth & McConnell, Virginia & Miles, Daniel, 2009. "Lot Size, Zoning, and Household Preferences: Impediments to Smart Growth?," RFF Working Paper Series dp-09-15, Resources for the Future.
    4. J. Peter Clinch & Eoin O'Neill, 2010. "Assessing the Relative Merits of Development Charges and Transferable Development Rights in an Uncertain World," Urban Studies, Urban Studies Journal Limited, vol. 47(4), pages 891-911, April.
    5. Lynch, Lori & Gray, Wayne & Geoghegan, Jacqueline, 2007. "An Evaluation of Working Land and Open Space Preservation Programs in Maryland: Are They Paying Too Much?," Working Papers 6887, University of Maryland, Department of Agricultural and Resource Economics.
    6. Jiang, Yong & Swallow, Stephen K., 2017. "Impact Fees Coupled With Conservation Payments to Sustain Ecosystem Structure: A Conceptual and Numerical Application at the Urban-Rural Fringe," Ecological Economics, Elsevier, vol. 136(C), pages 136-147.
    7. Bruno, Erica & Falco, Enzo & Shahab, Sina & Geneletti, Davide, 2023. "Integrating ecosystem services in transfer of development rights: a literature review," Land Use Policy, Elsevier, vol. 131(C).

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