AGENDA DATE: 2/3/2016
TITLE: FY 2016 2nd Quarter Cash Proffer Report
Title
BODY
SUBJECT/PROPOSAL/REQUEST: Report on cash and non-cash proffer revenue and expenditures October-December 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 last quarterly proffer report the Board received on November 11, 2015 included information on cash proffer revenue and expenditures and non-cash proffers for July through September, 2015. This report includes all proffer activity (both cash and non-cash) for the second quarter of Fiscal Year 2016 (October-December). The next quarterly report is planned for the Board's May 4, 2016 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 2016 Second Quarter (October-December)
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 $49,234,856.45. This reflects 2014 annual adjustments to anticipated proffer revenue (not received yet obligated) from proffers in which annual adjustments were proffered.
C. 2nd Quarter Cash Revenue: The County received a total of $191,937.34 from existing cash proffers during this quarter from developments as listed in Attachment A.
D. Expenditure: There were no expenditures of proffer revenue this quarter.
E. Appropriations: A total of $120,000 (which includes interest) was appropri...
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