What is the Southampton TDR Clearinghouse and Bank?
To implement the TDR Program, the Town Board created the Southampton TDR Clearinghouse and Bank, pursuant to Town Code Chapter 244(6). The bank will issue TDR Certificates through a procedure set forth in Town Code section 244, and monitor their use in receiving areas.

The Town of Southampton has adopted a Community Preservation Project Plan that allows the funds generated from a two-percent real estate transfer tax to fund the establishment of a TDR Clearinghouse and Bank pursuant to §261-a of the Town Law. The TDR Clearinghouse and Bank will allow the town to act as a clearinghouse of information for potential sellers and buyers of development rights.

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1. What is a development right?
2. What land can be preserved through the TDR program, as sending parcels?
3. What land will receive development rights?
4. What are receiving uses for Southampton Town TDRs?
5. What is the Southampton TDR Clearinghouse and Bank?
6. What happens to land after the development rights have been transferred?