Transfer of Development Rights (TDR) Meeting - Jersey Avenue Public Outreach Session Thursday, August 19, 2010 - 6:30pm - 10:00pm The Jersey City Division of City Planning has received a grant from the NJ Office of Smart Growth to conduct a comprehensive planning study to compose a Transfer of Development Rights (TDR) Ordinance for Jersey City. Through this process, the City can explore ways to secure funding to preserve and enhance community resources by capitalizing on the demand for development. This will be the first urban application of this zoning in New Jersey. The City is beginning this process through a series of small focused meetings comprised of experts on each topic of study. These meetings will be of varied make-up, including private individuals, public and private professionals, organization representatives and property owners. They are intended to help the City identify ways to use TDR to benefit the community and property owners and assess various options available when developing TDR districts in Jersey City. Over the course of the next month, these smaller meetings will be followed by three large public outreach meetings to maximize the opportunity to receive suggestions and community feedback. The Public Meetings are as follows: Thursday August 19, 2010 6:30 pm - 10:00 pm Charrette 2: Jersey Avenue - Public Outreach Session Where: Golden Door Charter School [180 9th Street] Discussion of the Jersey Avenue Redevelopment area as a sending area. This is the area bounded by 10th St. north to the Hoboken border and Marin Blvd. west to the Palisades. Thursday August 26, 2010 6:00 pm - 9:00 pm Charrette 3: Downtown Receiving Area - Public Outreach Session Where: City Hall - Council Chambers [280 Grove Street] Discussion of various sites within downtown as receiving areas. What is TDR? Transfer of development rights is a realty transfer system where development potential in a specified preservation area can be purchased by private investors for use in a targeted growth area. In exchange for a cash payment, landowners in the preservation area place a restrictive easement on the property that will maintain the resource into perpetuity. The land in the designated receiving area can then be developed at a higher density than allowed under the baseline zoning. This process reduces the consumption of our critical resources, while still accommodating growth, and eliminates the "windfalls and wipeouts" in property values normally associated with zoning changes. More information about the Transfer of Development Rights can be found at the NJ Department of Community Affairs' Transfer of Development Rights page.