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Sponsored by Lorman Education
Product ID: 405322EAU
Credit & Course Provided by:

Development Rights: Current Trends and Legal Concerns

OnDemand Webinar (89 minutes)

Learn about the latest issues impacting development rights.This topic provides an overview of the role of development rights in real estate transactions and development projects, including a review of current trends and potential problem areas and areas of legal concern. The material will begin with an overview of zoning regulations, including use, floor area, bulk and light and air requirements. It will review the most common type of development rights transfer, by zoning lot merger, as well as other mechanisms, e.g., transfers from landmarks, by statute or special district designations, and by inclusionary or affordable housing bonuses. There will also be a discussion of development rights pricing, and areas of special interest to transactional real estate attorneys, such as the treatment of development rights in opinion letters and loan agreement covenants. There will be a focus on both local (primarily New York City) and national air rights schemes and regulatory trends.


James P. Power, Kramer Levin Naftalis & Frankel LLP Eugene C. Travers, Kramer Levin Naftalis & Frankel LLP


Basics of Zoning

• Use

• Floor Area

• Other Bulk Regulations

• Light and Air Requirements

• National Perspective

Zoning Lot Mergers

• Development Rights Transfer

• Easements

• Construction Issues

• Other Rights and Responsibilities

Other Types of Development Rights Transfer

• Legal/Constitutional Background

• Transfers From a Designated Landmark

• Special District Transfer Mechanisms

• Inclusionary Housing Bonuses

• Other Models

• National Perspective

Pricing of Development Rights

• Economic Theory

• Zoning Lot Merger

• Statutory/Special Districts

• Inclusionary Housing

• National Perspective

Other Issues

• Zoning Opinions

• Loan Agreement Covenants

• National Perspectives

Case Studies