Subject:
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Intent to adopt a Zoning Ordinance amendment to allow cash contribution proffers and non-cash proffers as permitted by and consistent with State code Section 15.2-2301.1
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EXPLANATION AND SUMMARY:
Recent approval of the Maple Avenue Commercial Zone (MAC) ordinance and overlay district has generated interest in rezoning properties along Maple Ave. The MAC Ordinance allows developers to take advantage of height and density incentives but they must in return provide enhanced pedestrian-friendly design and mixed-use elements. Currently, two rezoning applications have been received and are in the review process. One applicant has requested the Town consider acceptance of a voluntary cash proffer. Town Code, Article 24 "Rezoning and Amendments" does provide for some forms of proffered conditions but specifically prohibits cash proffers. Subsection C currently reads: "Such conditions shall not include a cash contribution to the Town." If Town Council wishes to accept cash proffers as permitted under state enabling legislation, the Town code needs to be amended to mirror language in the Virginia State Code Sec. 15.2-2301.1 that allows such proffers. The following is the proposed language change:
Cash proffers are permitted by state code and are voluntary. There are pros and cons to having a more aggressive proffer system. Proffers can be costly. From an Economic Development perspective, a less aggressive proffer system may be more attractive to a developer in deciding where to build his or her business or project. However, rezoning property usually conveys additional rights and opportunities for a developer that may have an impact on public facility needs. As drafted above voluntary cash proffers will provide a developer with the opportunity to contribute to a public improvement already identified in the CIP and or Comprehensive Plan as a public need. This safeguard assures that there is a consensus of public facility needs identified separ...
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