COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

Proffer Management – First Quarterly Report

Cash Proffer Activity

 

SUBJECT/PROPOSAL/REQUEST:

Report on cash proffer revenues and expenditures for FY 2006-2007

 

STAFF CONTACT(S):

Messrs. Tucker, Foley, Davis, and Graham;

Ms. McCulley and Ms. Baldwin

 

LEGAL REVIEW:   Yes

 

 

AGENDA DATE:

October 3, 2007

 

ACTION:                               INFORMATION:

 

CONSENT AGENDA:

  ACTION:                            INFORMATION:   X

 

ATTACHMENTS:      Yes

 

REVIEWED BY:

 


BACKGROUND:

On January 3, 2007, the Board requested that cash proffer activity be reported on a quarterly basis.  As part of the overall Proffer Management Program, Community Development staff has been working with Finance and the Office of Management and Budget to keep the public and affected County departments informed of all cash proffer activity.  Additionally, the County is mandated by Virginia Code Section 15.2-2302.2 to provide an annual report of all cash proffer revenues and expenditures as well as the amount of future cash payments proffered in all rezonings approved during that fiscal year to the State Commission on Local Government.

 

STRATEGIC PLAN:

Goal 3:  Develop Infrastructure Improvements to Address the County’s Growing Needs

Goal 5:  Fund the County’s Future Needs

 

DISCUSSION:

The management of cash proffers has become a significant component in the County’s administration of proffer monitoring and proffer compliance.  The County has implemented new procedures to monitor cash proffers, including the utilization of monthly spreadsheets produced by Finance that will be available on the proffer database on the County website and will also be sent to affected stakeholders. An overview of the report and spreadsheet that will be provided to the State Commission on Local Government is attached (Attachment A), as well as the Cash Proffer Fund Activity Report for FY 2006-2007 (Attachment B).

 

Fiscal Year 2006-2007

In FY 2006-2007, the County collected $1,189,182 in cash proffers.  Of the monies collected:  $629,538 is allocated for general capital improvement programs, $355,000 for affordable housing, $131,300 for roads or other transportation improvements, $11,000 for schools, $53,000 for parks and recreation and $9,344 for stormwater management.

 

In FY 2006-2007, the County expended $181,772 in cash proffers.  The monies were spent as follows:  $109,666 for the 29 North Corridor Transportation Study, $12,690 for improvements to Stone Robinson School, $9,415 on stormwater improvements and $50,000 for the Western Park Master Plan.

 

In FY 2006-2007, $1,631,100 in cash proffers was approved with rezonings.  More detailed information regarding cash proffer revenue, expenditures and allocations is located on Attachments A and B.

 

BUDGET IMPACT:

Proffer funds are one source of revenue for funding the approved CIP.  Monies received by proffers fund capital improvements which would otherwise be funded by general tax revenue.  Currently one dedicated full-time staff person is assigned to monitor and collect proffered funds.

 

RECOMMENDATIONS:

This report is provided for information and no action is required.  The Annual Survey to the State and Cash Proffer Activity for Fiscal Year 2006-2007 is provided for the convenience of the Board and those interested in the cash proffer program.  Since this is the first report of information to be provided on a quarterly basis, staff requests the Board to note any desired changes to the report.   

 

ATTACHMENTS

A-Annual Survey of Cash Proffer Activity to be submitted to the State

B-Cash Proffer Fund Activity

Return to consent agenda

Return to regular agenda