Transfer of Development Rights (TDR)

The St. Petersburg City Code Section 16.70.040.1.17 provides for a Transfer of Development Rights (TDR) for individually designated local historic landmarks and sites.  The City recognizes that locally significant landmarks exist on sites which have potential for larger development to occur.  For this reason, these buildings are under constant threat of being demolished and replaced with larger structures.  The TDR program allows the owners of eligible properties to benefit from the development potential by allowing the sale of the development rights with the condition that the building or site be restored and retained.  The process is completed in two phases:  approval of the establishment of TDR credits for the historic landmark and approval of the transfer or sale of the credits to a receiving site. The establishment and transfer of TDR credits may occur at separate times.