AGENDA DATE: 9/2/2015
TITLE:
Title
FY 2015 4th Quarter Cash Proffer Report
BODY
SUBJECT/PROPOSAL/REQUEST: Report on cash and non-cash proffer revenue and expenditures April-June 2015
ITEM TYPE: Consent Information Item
STAFF CONTACT(S): Foley, Walker, Letteri, Davis, Graham, McCulley, Higgins, Ragsdale, Allshouse L., and Harris
PRESENTER (S): N/A
LEGAL REVIEW: Yes
REVIEWED BY: Thomas C. Foley
BACKGROUND: In 2007, the Board directed staff to provide a quarterly report on the status of cash proffers. Since that time, the report has been expanded to also include updates on non-cash proffers. The Board received the last quarterly proffer report on May 6, 2015 which included information on cash proffer revenue and expenditures and non-cash proffers for January through March, 2015. This report includes all proffer activity (both cash and non-cash) for the fourth quarter of Fiscal Year 2015 (April-June). The next quarterly report will be on the Board's November 4, 2015 agenda.
STRATEGIC PLAN: Critical Infrastructure: Prioritize, plan and invest in critical infrastructure that responds to past and future changes and improves the capacity to serve community needs.
DISCUSSION:
Proffer Activity for Fiscal Year 2015 Fourth Quarter (April-June)
A. New Proffered Revenue: There were no rezoning requests approved this quarter that provided new cash proffers.
B. Total Proffered Revenue: Total proffered revenue is $48,943,356.45. This reflects 2014 annual adjustments to anticipated proffer revenue (not received yet obligated) from proffers in which annual adjustments were proffered.
C. 4th Quarter Cash Revenue: The County received a total of $346,942.75 from existing cash proffers during this quarter from developments listed in Attachment A. Although not proffer funds, the County received $9,000 for affordable housing programs from a special use permit condition. (See Attachment A for more details.)
D. Expenditures...
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