Compensation, risks, and efficiency
Planning and Development
In this paper, I would like to discuss two concepts related to compensation: transferrable development rights, and warranted compensation price. I recommend consideration of these two instruments as a way of changing the risk environment for developers without any extra burden to taxpayers.
Note: This article is adopted from a paper presented at the Forum on the Practical Implementation of the Planning Ordinance on 7 January 1992 organized by the Pacific Rim Council on Urban Development.
Ho, L. S. (1991). Compensation, risks, and efficiency. Planning and Development, 7(2), 61-62.