Suffolk is Preparing a Cash Proffer Study

Suffolk is Preparing a Cash Proffer Study

The City of Suffolk is presently studying creating a cash proffer policy for residential and commercial properties as part of their Comprehensive Plan and Unified Development Ordinance.  A cash proffer is (a) any money voluntarily proffered in a writing signed by the owner of property subject to rezoning, submitted as part of a rezoning application, and accepted by a locality pursuant to the authority granted by Va. Code Ann. Section 15.2-2303 or Section 15.2-2298, or (b) any payment of money made pursuant to a development agreement entered into under authority granted by Va. Code Ann. Section 15.2-2303.1.

TischlerBise has been contracted to develop the city’s program and provide some cost estimates/ranges for the provision of city services. The Hampton Roads Chamber of Commerce, Tidewater Builders Association, Hampton Roads Commercial Realtors Association, and the Hampton Roads Realtors Association have been asked to participate as stakeholders in this process. The first meeting with Suffolk’s Department of Planning and Community Development was held on January 26.  View a presentation which provides the current statistics and recommended methodologies to calculate the cash proffer ranges. The firm of TischlerBise will be providing further information and details in the months to come as they develop the fiscal impact model. 

Members interested in this issue should contact Dean McClain, Suffolk Governmental Affairs Director at dmcclain@hrccva.com or (757) 664-2560.

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