County to consider letting farmers sell growth rights

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Source: Frederick News Post
Author: Bethany Rodgers
Article Type:
Date Published: 08/21/2013

Owners of agricultural land in Frederick County might eventually bring to market their development rights as well as their farm produce. A nine-person work group has formed to consider allowing farmers to sell their property’s growth potential to land owners elsewhere in the county. A transfer of development rights program would allow farmers to drum up cash without selling off their land piece-by-piece, supporters of the idea said. “My goal is to give the farmer more tools in the toolbox to keep their
farms working farms because, really, their land is their 401(k),” Commissioners President Blaine Young said. “So what this allows them to do is basically access their 401(k) by selling their development rights.” It can also be used for conservation. The county has preserved thousands of acres through purchase programs, but these initiatives rely on a limited pool of taxpayer funding. Creating a TDR program could leverage private dollars for the same purpose. The programs are a way of decoupling development rights from a property and treating them as a separate commodity.