I try to read various publications because I find things that are interesting and that spur my thoughts. I picked up a copy of the Bay Journal recently, which is a publication published by a number of environmental organizations dedicated to preserving the Chesapeake Bay.
There was an interesting article, which I have since found on the web and linked to here, that talked about a novel idea that the state of Virginia is using to conserve land.
Virginia has started a program where private property owners can sell or get state income tax credits for their development rights either from the government (Purchase of Development Rights – PDR) or transfer their development rights to a private developer to use in another jurisdiction (Transfer of Development Rights – TDR).
The way a TDR works is that there are sending and receiving areas. A simple way to think about this is; say you owned land in the Adirondacks, you could sell your development rights to a developer in NY City.
What the state of Virginia is finding is that the program works and that land is being conserved. This is how the article concludes:
“If local governments are serious about planning for where development occurs and protecting forest and agricultural lands, they will consider these powerful and influential planning tools. With them, localities can alter the pattern of inefficient growth, while creating a balance between development and conservation in Virginia.”
If only NY state and the Lake George Park Commission would try an idea like this.