N.J. Admin. Code § 5:86-4.1 - Applicability
(a) If
the transfer program involves credits from the Highlands preservation area and
is established after the Highlands Council creates a Regional TDR Program
pursuant to
N.J.S.A. 13:20-13, the initial value of the Highlands
preservation area development rights shall be the value set by the
Council.
(b) If the municipality is
proposing a TDR program that is voluntarily participating in the Highlands
Regional TDR Program and is established after the Highlands Council creates a
Regional TDR Program pursuant to
N.J.S.A. 13:20-13, the initial value of the Highlands
Region transferable development rights shall be the value set by the
Council.
Notes
See: 45 N.J.R. 1879(a), 46 N.J.R. 203(a).
Deleted former (a); and recodified former (b) and (c) as (a) and (b).
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