It is the policy of the city that landowners subject to development restrictions in the sending areas should be provided regulatory incentives to permanently restrict such lands from urbanization. 11 Oklahoma Statutes section 43-101 et seq., authorizes the city to control the density of population through zoning. While such regulations may be legally imposed where they further a legitimate public purpose and are reasonable, the transfer of development rights provides a vehicle to enable the private market to allocate economic benefits to landowners in the restricted areas, thereby enhancing the viability of businesses in the sending areas and avoiding potential legal disputes between the private landowners and the city. This chapter establishes procedures for transferring densities from sending to receiving parcels.
The transfer of density/intensity or development rights (TDR) system is based on the carrying capacity. In other words, a finite amount of development is permitted in the areas within the sending and receiving zones. The city is indifferent as to who does the development. Instead, it lets the market decide the price. Accordingly, the accumulation of transfer rights is related to the overall purpose of preserving resources in the area. (Ord. 04-02, 1-6-2004)