TDRs Save NJ Farmland

"Under a smart-growth program passed in New Jersey in March, [developers] can pay to preserve land that towns want to keep open -- and in return build housing in areas the town wants to grow.Proponents see the program as a way to allow growth and at the same time preserve open space — and do it by tapping the deep pockets of developers rather than public money.That idea looks good to cash-strapped states, especially where housing demand has driven up the price of land. And it appeals to towns that want to focus construction around existing roads, and sewer and water lines."