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Transferable
Development Rights
(TDR)
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Transferred Development Rights Receiving Sites
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Why aren't the sites mapped?
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While mapping potential receiving areas provides a certain
amount of assurance to property owners as to the status of their
land, it could also artificially raise or lower property values
based on speculation. By not mapping receiving sites, property
owners are given flexibility to propose their land as a
receiving site and show how it meets the criteria for approval.
When a receiving site is proposed, neighboring property owners
are notified and public hearings are held. Through these steps,
the community becomes involved in the decision-making process. |
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Is there a limit on the size of a
receiving site?
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While there is no set acreage for a receiving site (called a TDR
Planned Unit Development), the maximum total number of units
placed on one site is 200. It is very likely, however, that most
proposed sites will be more suitable for considerably fewer than
200 units because of neighborhood compatibility issues and
infrastructure demands. |
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Can development rights be transferred
from anywhere in the county to a receiving site?
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In general, 75% of the units transferred to a receiving site
must come from the sub-area surrounding the site. When the
county has entered into an
intergovernmental agreement with a city or town, the terms
of the agreement will apply. For example, a city could require
all TDRs come from within its planning area instead of the 75%
requirement. Exceptions to the 75% could be made if approved by
the Board of County Commissioners. |
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Why won't TDR units serve as affordable
housing?
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Receiving sites will typically be low to very low density with
large lots, one-half acre or more in size. |
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The fewer the lots that a developer plats on a site, the more he
or she needs to charge to get the same return on the initial
investment. People buying larger, more expensive lots are more
likely to want larger, more expensive homes. In some cases,
their lenders may require that the home be more expensive in
order to maintain a ratio between the cost of the land and the
cost of the improvements (home). In addition to the cost of the
land itself, the cost of the purchased TDR units must be
calculated. It is estimated that between $20,000 and $50,000
could be added to the cost of each TDR lot. |
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Could TDR units be part of an
affordable housing program?
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Yes. If a municipality participating in the TDR program
wished to add an affordable housing element to a receiving site,
it could be feasible to lower the overall price of the housing
units on the site. |
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This could be accomplished in several ways.
The most likely way would be for the city to allow increased
density on the receiving site. The more lots on the site, the
less the developer has to charge for each one in order to get
the same return on the initial investment. The involved city or
town could allow multifamily residences and small lot
single-family residences, mized together with the larger TDR
lots to create a more diverse and affordable neighborhood. Of
course, higher density affordable housing translates into more
demand on schools, transportation routes, and other
infrastructure. A second option to add an affordability element
would be government subsidy of the TDR lots. |
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Can single-family residence TDRs be
converted into "x" square feet of commercial or
multi-family space? For example, could one TDR unit be
equal to "x" square feet of retail space?
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Not as of yet in Boulder County. Conversion formulas do exist in
other programs around the United States, usually in municipal or
urbanized areas. |
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