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The idea of buying development rights on farmland is simple.
By buying development rights, Scenic Hudson's preservation efforts have also made farmland in Stuyvesant more affordable for new buyers.
Mr Paulson himself is buying development land in hard-hit markets.Buying houses themselves may be the smartest bet of all.
"If someone came to us to talk about buying development rights, we'd have to listen," said Joe Kalamar, a spokesman for the council.
Similar(51)
The Giuliani administration maintained that the developer had properly bought development rights from other property owners on the block and built a public plaza in return for the right to build the tower 20percentt higher than statutes allow.
Developers would be able to buy development rights for the towers from the city and later from the owner of the development rights over Grand Central.
The fund is used to buy development rights and open land for preservation.
New Jersey also bought development rights at Lincoln Park Airport in Morris County for $4.3 million in 2002.
He added, "It's a lot cheaper for us to buy development rights than to buy the property outright".
The Nature Conservancy and The Conservation Fund are negotiating with the Hearst Corporation to buy development rights to the ranch.
In New York alone, counties and municipalities applied this year for $62.9 million to buy development rights through the Farmland Protection Program.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com