KRS 100.208: Transferable development rights.

(1) Any city, county, consolidated local government, or urban -county government

which is part of a planning unit may provide, by ordinance, for:

(a) The voluntary transfer of the development rights permitted on one (1) parcel

of land to another parcel of land;

(b) Restricting or prohibiting further development of the parcel from which

development rights are transferred; and

(c) Increasing the density or intensity of development of the parcel to which such

rights are transferred.

(2) The ordinance shall designat e and show on the zoning map areas from which

development rights may be transferred and areas to which such rights may be

transferred and used for development. These zones may be designated as separate

use districts or as overlaying other zoning districts.

(3) Any city within a county that adopts an ordinance providing for the transfer of

development rights, may also adopt a transfer of development rights ordinance, and

the county and city by adoption of mutual provisions may provide for the transfer of

development rights on land located in one to land located in another.

(4) "Transferable development rights" means an interest in real property that constitutes

the right to develop and use property under the zoning ordinance which is made

severable from the p arcel to which the interest is appurtenant and transferable to

another parcel of land for development and use in accordance with the zoning

ordinance. Transferable development rights may be transferred by deed from the

owner of the parcel from which the de velopment rights are derived and upon the

transfer shall vest in the grantee and be freely alienable. The zoning ordinance may

provide for the method of transfer of these rights and may provide for the granting

of easements and reasonable regulations to ef fect and control transfers and assure

compliance with the provisions of the ordinance.