New Jersey Administrative Code › Title 5 - COMMUNITY AFFAIRS › Chapter 86 - TRANSFER OF DEVELOPMENT RIGHTS REAL ESTATE MARKET ANALYSIS REPORT › Subchapter 1 - GENERAL PROVISIONS › Section 5:86-1.3 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms, as used in this chapter, shall
				  have the following meanings, unless the context clearly indicates otherwise:
"Base zoning" means either the zoning in place as of one year
				  prior to the municipal enactment of a transfer of development rights ordinance or
				  the zoning in place less than one year prior to the municipal enactment of the
				  transfer of development rights ordinance provided that the zoning was adopted by the
				  municipality for purposes of achieving consistency with a master plan that has
				  received initial or advanced plan endorsement from the State Planning Commission
				  pursuant to N.J.A.C. 5:85-7.
"Bonus density" means in a receiving zone either the amount by
				  which development can exceed base zoning or the right to develop a use not permitted
				  under the base zoning with the use of TDR credits.
"Development right" means an interest in land, less than fee
				  simple absolute title, which enables the owner to develop the land for any purpose
				  allowed by ordinance.
"Environmentally constrained area" means an area in which
				  development is precluded or significantly limited by existing environmental statutes
				  or regulations.
"Market value restricted" means the value of a property based on
				  its agricultural, environmental or historical resource and its other remaining
				  inherent property rights, but does not allow the owner to develop the land for any
				  other purpose except as expressly authorized by the transfer of development rights
				  ordinance.
"Real estate market analysis" or "market analysis" means the
				  report required pursuant to N.J.A.C. 5:86-2.
"Receiving zone" means an area or areas designated in a master
				  plan and zoning ordinance, adopted pursuant to
				  40:55D-1 et seq., within which
				  development may be increased, and which is otherwise consistent with the provisions
				  of 40:55D-145.
"Sending zone" means an area or areas in a master plan and zoning
				  ordinance, adopted pursuant to
				  40:55D-1 et seq., within which
				  development may be restricted and which is otherwise consistent with the provisions
				  of 40:55D-144.
"TDR credit" means the development right that can be utilized in
				  a receiving zone to achieve the bonus density, the number of TDR credits is
				  determined based on the transfer ratio and the number of transferable development
				  rights being conveyed from the sending zone to the receiving zone.
"TDR zoning" means the zoning authorized in the receiving zone
				  when TDR credits are utilized or in the sending zone once development credits have
				  been relinquished.
"Transfer of development rights (TDR)" means the program set
				  forth in 40:55D-137 et seq.
"Transferable development right" means a unit of development
				  permitted by the base zoning, considering environmentally constrained areas when
				  deemed appropriate by the municipality, which can be transferred from a property in
				  the sending zone.
"Transfer ratio" means the number of transferable development
				  rights that can be transferred from a sending zone property divided by the units of
				  development that can be built on the receiving zone property through the use of TDR
				  credits.
"Unit of development" means a right to build on a particular
				  piece of property as determined by zoning ordinance; which may be measured by, but
				  is not limited to acre, square foot, residential unit, floor area ratio, or height.