A legislative body that exercises authority granted by this division may establish a program for the transfer of development rights to: encourage the preservation of natural resources; and facilitate orderly growth and development in the State in conjunction with programs for preservation of open space and agricultural land and other development management programs and techniques.

In this section, “public facility” includes: recreational facilities; transportation facilities and transit–oriented development; and schools and educational facilities. A legislative body that exercises authority granted by this division may establish a program for the transfer of development rights within a priority funding area to assist a local jurisdiction in the acquisition of land for the construction of a public facility within a priority funding area. Except as provided in paragraph (2) of this subsection, proceeds of the sale of development rights shall be used to assist in: the acquisition of the public site; or the construction of the public facility. For schools and educational facilities, proceeds of the sale of development rights may only be used to assist in the acquisition of the land on which the school or educational facility will be located. Any development rights sold under this section may only be transferred within a priority funding area. Development rights associated with existing public land that is owned by a local jurisdiction on October 1, 2009, may not be sold or transferred under this section.