What is the function of transferring development rights?

Transferring development rights primarily serves to protect historic landmarks and natural resources. This mechanism allows property owners in designated areas, such as those with significant historic or environmental value, to sell their development rights to developers in more urban or commercial areas. By doing this, the original site maintains its historical or ecological integrity while still allowing for development elsewhere.

This process helps control urban sprawl and ensures that important cultural and natural sites are preserved, promoting sustainable development patterns. It creates a system where development can occur in appropriate locations while safeguarding areas that contribute to community character and environmental health. The focus on protecting significant areas gives context to how development rights can be strategically utilized to achieve broader land use and preservation goals.