Located in, but not of, the State Agriculture Development Committee, the State TDR Bank functions under the direction of a 10-member board of directors. Under their guidance the major tasks of the State TDR Bank include:
- The purchase, or provision of matching grants for the purchase, of 80 percent of the value of development potential from properties within designated TDR sending areas;
- The provision of a financial guarantee with respect to any loan secured using development potential as collateral;
- The provision of planning assistance grants to municipalities to help cover the cost of preparing the planning documents required to enact viable TDR ordinances;
- Service as a development transfer bank for any municipality that has adopted a development transfer ordinance, or any county in which at least one municipality has adopted a development transfer ordinance; and
- The establishment and maintenance of a Development Potential Transfer Registry to record all development potential transfers.
Members
Douglas H. Fisher, Chairperson Secretary of Agriculture Alternate: Monique Purcell
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Marlene Caride, Commissioner of Banking and Insurance Represented by:
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Lt. Governor Sheila Y. Oliver, Commissioner of Community Affairs Represented by:
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Edward J. McKenna, Jr. Chair, State Planning Commission Represented by:
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Elizabeth Maher Muoio, State Treasurer Represented by:
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Nancy Tindall President, ANJEC Board of Trustees Represented by:
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Catherine R. McCabe, Commissioner of Environmental Protection Represented by:
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Mitchell Jones President, State Board of Agriculture
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Diane Gutierrez-Scaccetti, Commissioner of Transportation Represented by:
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Public Member: Vacant |
Meeting Minutes
Reference
NJ State TDR Bank Regulations (N.J.A.C. 2:77)
Appraisal Guidelines