The Highlands Water Protection and Planning Act charged the Highlands Council with developing a Transfer of Development Rights (TDR) program for the Highlands Region. The Highlands Council adopted the TDR Program as part of the Highlands Region Master Plan and established the Highlands Development Credit Bank (HDC Bank) in June 2008 in support of the TDR Program. This program serves as one mechanism to address some of the equity concerns of property owners in the Preservation Area that have been affected by implementation of the Highlands Act.

The Highlands TDR Program allocates TDR credits called Highlands Development Credits or HDCs to sending zone property owners. HDCs may be sold to developers for use in appropriate voluntary receiving zones. Use of HDCs by developers in established receiving zones will permit developers to increase the density or intensity of proposed projects in those zones. Under the Highlands Act, participation as a receiving zone is voluntary.

HDC Bank

The HDC Bank performs several functions including recording and tracking all HDC activities and serving as a buyer and seller of HDCs. The HDC Bank is lead by a nine-member board of directors, and works in conjunction with the Highlands Council to implement the Highlands Transfer of Development Rights (TDR) Program. Information regarding HDC Bank Board meetings, including meeting dates and related materials, is available via the Highlands Council Meeting Calendar.

Below is a current listing of HDC Bank Board members.

HDC Bank Board Chair
Robert G. Walton - Highlands Council Member

Bank Board Members
Dale Davis III - Owner, Stony Hill Gardens and Farm Market, Chester
Robert F. Holtaway - Highlands Council Member
Kenneth H. Klipstein - NJ Water Supply Authority Watershed Protection Programs
Theodore J. Maglione - Owner, The TM Group, Inc., Mendham (custom home builder)
Andrew R. McElroy - Vice President, American Federal Mortgage Corporation, Flanders
Susan E. Payne - Executive Director, State Agriculture Development Committee
Jim Rilee - Highlands Council Chairman
Greg Romano - Assistant Director & Director of Statewide Land Acquisition New Jersey Conservation Foundation