COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

FY2010 1st Quarter Cash and Non-Cash Proffer Report and 2009 Survey of Cash Proffers for State

 

 

SUBJECT/PROPOSAL/REQUEST:

Report of cash proffer revenue, expenditures and non-cash improvements for July – September of 2009.

 

 

STAFF CONTACT(S):

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

 

 

LEGAL REVIEW:   Yes

 

AGENDA DATE:

November 4, 2009

 

 

 

ACTION:                INFORMATION:   

 

CONSENT AGENDA:

  ACTION:              INFORMATION:  X

 

 

ATTACHMENTS:   Yes

 

 

REVIEWED BY:

 

 

BACKGROUND:

This report includes proffer activity (both cash and non-cash improvements) for the months of July through September of 2009 (FY2010 1st quarter).  Also attached (Attachment B) is the annual state cash proffer report (the Commission on Local Government 2009 Survey of Cash Proffers Accepted by Local Governments).  This information is mandated by the State which reports the amount of cash proffers collected, pledged and expended during each fiscal year for Virginia localities.

 

STRATEGIC PLAN:

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

Goal 5:  Fund the County’s Future Needs.

 

DISCUSSION:

Cash Proffers July – September 2009 (1st Quarter Fiscal Year)

 

A.         Proffered:  No rezonings were approved this quarter.

B.         Total Obligated Cash Proffers:  Since no rezonings were approved this quarter, the total obligated cash proffer amount remains at $56,758,832.

C.         Revenue:  The County received $3,250 in cash proffers slated for Affordable Housing from Belvedere (ZMA 2004-7).  In addition, the following funds were received for use by the Capital Improvement Plan:  $3,200 in cash proffers from Liberty Hall (ZMA 2007-14) and $9,667 contributed by Wickham Pond (ZMA 2004-17).

D.         Total Interest Earnings:  The total interest earned from collected cash proffers is $315,456.

E.         Expenditures:  No funds were expended during this quarter; however, the Board can expect to see several cash proffer appropriations within the next few months.

F.         Current Available Funds:  As of June, there is $1,006,493 available in cash proffers (see Attachment A).

 

Non-Cash Proffers

As the Board may recall from the September 2, 2009 executive summary for the FY 09 4th quarter report, staff is reporting quarterly on certain non-cash proffers to include Affordable Housing, Parks, Fire Rescue, Schools and other Land Dedications.  There is no activity to report on non-cash proffers for the 1st quarter of FY2010.

 

2009 Survey of Cash Proffers Accepted by Local Governments for the Commission on Local Government

During Fiscal Year 2009, the County collected $441,747 in cash proffers and expended $66,000.  There were no cash proffers pledged during this year, as there were no rezonings approved (Attachment B).  Despite current economic deficits, the County collected a significant amount of cash proffers ($441,747).  This is almost double the amount reported on the FY 2008 State Survey, indicating that development is still active within the County.  The collected cash proffers are in the process of being allocated to CIP projects as will be noted on upcoming executive summaries to the Board.  As the trend has been in prior years, most cash proffers collected are specified for use either in the category of Roads or other Transportation Improvements, or General CIP.  Please see Attachment C for further comparisons.

                                                                                   

 

BUDGET IMPACT:

Both cash and non-cash proffers continue to provide a positive impact to the budget.

 

 

RECOMMENDATIONS:

This summary is provided for information on cash proffer activity and no action is required. Staff will be available to receive comments and answer questions from the Board.

 

 

ATTACHMENTS

A - Cash Proffer Summary

B - 2009 Survey of Cash Proffers

C - Cash Proffer Activity FY 2004-2009

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