Transferable development rights markets |
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Authors: | David E Mills |
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Institution: | Department of Economics, University of Virginia USA |
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Abstract: | Several legislative proposals utilizing the concept of transferable development rights have been advanced in recent years. A chief claim made by their proponents is that the concept enables the same kind of constructive land market intervention as direct land-use controls but without an inequitable distribution of development gains. The validity of this claim is established for certain circumstances in this paper and two specific cases where the concept may be useful are described. |
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