On June 20, 2007, the Albemarle County Board of Supervisors held a work session to review a proposed cash proffer policy. Voluntary cash proffers are typically offered by a developer to the County as part of a rezoning request in order to mitigate the impact of the new development on the community. Cash proffers are used to fund infrastructure needs like schools, roads, libraries, and public safety.
In May, the Supervisors received recommendations from the Fiscal Impact Advisory Committee for the County to change its methodology related to cash proffers. On May 2nd, the Board approved some placeholder proffer amounts for different types of homes. For example, a single family detached home will now have a cash proffer expectation of $17,500 from the developer. In recent developments, Albemarle has accepted about $3,200 as a cash proffer for each of these homes.
At this afternoon’s work session and after a presentation from Mark Graham, the County’s Director of Community Development, the Supervisors unanimously approved a resolution of intent to have staff initiate a change to the County’s Comprehensive Plan to incorporate a formal cash proffer policy. Once staff prepares the text for the amendments, it will be reviewed later this year with a public hearing before the County Planning Commission and later a public hearing before the Board of Supervisors.
Download the key documents related to this discussion: