COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

Proffer Management FY09 Third Quarter Cash Proffer Report

 

SUBJECT/PROPOSAL/REQUEST:

Report of cash proffer revenues and expenditures for January – March of 2009

 

STAFF CONTACT(S):

Messrs. Tucker, Foley, Davis, Graham, Higgins, Ms. McCulley and Ms. Baldwin

 

LEGAL REVIEW:   Yes

 

AGENDA DATE:

May 6, 2009

 

ACTION:                INFORMATION:   

 

CONSENT AGENDA:

  ACTION:              INFORMATION:  X

 

 

ATTACHMENTS:   Yes

 

 

REVIEWED BY:

 

 

 

BACKGROUND:

The information provided herein represents all cash proffer activity for the months of January through March of 2009.  When staff presented the Second Quarter Cash Proffer Report to the Board on February 4, 2009, the Board asked staff to expand the report to include non-cash proffers.  Non-cash proffers can take many forms, such as land dedications, specific road improvements, and project development design improvements.  Staff continues to improve tracking of both cash and non-cash proffers through the use of a proffer database and the implementation of standard operating procedures.  Staff is in the process of assessing the best way to report this information and will try to provide an expanded report to the Board with the next quarter proffer report.  Staff is currently working with the various stakeholder groups to update the status of all prior proffers, and will include that information in the expanded report.

 

STRATEGIC PLAN:

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

Goal 5:  Fund the County’s Future Needs.

 

DISCUSSION:

A.  Proffered:  No rezonings were approved during this quarter.

B.  Total Obligated Cash Proffers:  Since no new rezonings were approved between January and March, the total anticipated proffer revenue is $56,758,832, the same as it was for the prior two quarters.

C.  Revenue:  During this quarter, the County received a total of $114,225 in cash proffers.  The contributions include $109,000 from Hollymead Town Center Area A-1 (ZMA 2005-15) which is allocated as follows: $59,000 for the Route 29 Traffic Study and $50,000 for a future greenway connection and pedestrian access at Hollymead and Route 29.  Wickham Pond (ZMA 2004-17) contributed $3,225.81 for general CIP funds in the Crozet area.  Martha Jefferson Hospital (ZMA 2001-15) contributed $2,000 for transportation improvements in addition to their prior contribution.  The additional MJH funds were due to a miscalculation in the amount of their prior contribution.

D.  Total Interest Earnings:  The total interest earned from cash proffer revenues is $312,867.

E.  Expenditure:  Although no funds were expended this quarter, staff anticipates several requests to appropriate proffered funds for upcoming CIP projects will be presented to the Board in the next quarter.  County staff is focusing on utilizing proffered funds where needed and permitted within the context of the proffer.

 

BUDGET IMPACT:

It is important to note that the County continues to receive cash proffer revenues.  This is largely due to previously approved rezonings for which cash proffers were tied to plan approval rather than to building permits.  These funds are designated for specific projects, which offsets the need for County funding.

 

RECOMMENDATIONS:

Proffer management reports are received by the Board on a quarterly basis for information only.  Staff welcomes any comments or questions.

 

ATTACHMENTS

A – Proffer Management FY 09 3rd Quarter Report

Return to consent agenda
Return to regular agenda