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
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.
