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
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
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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