Cash proffers
Cash proffers are contributions that developers agree to pay per unit in exchange for a rezoning. They are part of a contract signed between government officials and developers and are binding. See also Proffers.
Albemarle County
The Board of Supervisors adopted a cash proffer policy in 2007 that established a formula that calculated the cost each residential unit would create in terms of additional government services. Part of that "Cost-Revenue Impact Model" formula involved the capital improvement program.
In October 2014, the Board of Supervisors directed the Fiscal Impact Advisory Committee to study the policy in order to determine if any changes should be made. they held a total of 18 meetings and over the course of their work were told about changes in state law that affected the formula. Localities can no longer include maintenance projects included in the capital improvement program. [1]
For instance, the figures according to the formula in 2015 are $20,987 per single-family dwelling, $14,271 for each townhome and $14,871 for each unit in an apartment complex.
But dropping maintenance projects from the calculation means Albemarle could only charge $4,918 for each single-family unit, $3,845 for townhomes and $5,262 for each apartment unit.
Many Albemarle County developers are considering rezonings that would allow them to lower the amounts originally agreed to but the Board of Supervisors has not yet determined a process. [2]
Charlottesville
Cash proffers are much rarer in the city of Charlottesville. There are no cash proffers associated with a special use permit.
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References
- ↑ Web. Albemarle panel briefed on lower cash proffers, policy changes, Sean Tubbs, Charlottesville Tomorrow, September 22, 2015, retrieved November 16, 2015.
- ↑ Web. Supervisors to consider streamlining of rezoning amendments, Sean Tubbs, Charlottesville Tomorrow, November 14, 2015, retrieved November 16, 2015.