Abstract
ABSTRACTFolly Beach, South Carolina is in dire straits. Severe coastal erosion and controversial beach renourishment projects have raised serious concerns for the immediate future of the beach and surrounding coastal community. Deciding on a course of action to address these issues has led to conflicts between policymakers, property owners, and members of the public, particularly because traditional ideas are so unpalatable: the use of additional hard erosion control devices is not only environmentally objectionable, but also heavily restricted under South Carolina law; beach-wide renourishment projects provide temporary solutions but are expensive and often fraught with problems; and the taking of at-risk beachfront property under either the state or city's eminent domain power presents both legal and financial hurdles. This article considers whether a system of Transferable Development Rights (TDRs), a market-based mechanism grounded in economic incentives, could be a viable solution for Folly Beach's erosion-related problems. In theory, by incentivizing relocation and inland development, a properly implemented TDR program in Charleston County could protect its public trust beaches in furtherance of South Carolina's stated coastal management policy of retreat from the shoreline.
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