AGENDA DATE: 4/5/2017
TITLE: FY 2017 2nd Quarter Proffer Report
Title
BODY
SUBJECT/PROPOSAL/REQUEST: Report on cash and non-cash proffer revenue and expenditures October-December 2016
ITEM TYPE: Consent Information Item
STAFF CONTACT(S): Walker, Letteri, Kamptner, Graham, McCulley, Higgins, Ragsdale, Allshouse L., and Harris
PRESENTER (S): N/A
LEGAL REVIEW: Not Required
REVIEWED BY: Douglas C. Walker
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 December 14, 2017 included information on cash proffer revenue and expenditures and non-cash proffers for July through September, 2016. This report includes proffer activity for October through December, 2016. Going forward, proffer reports will be provided on a yearly basis. The Board will receive their next proffer report in September, 2017, which will include a summary of all cash and non-cash proffers received in fiscal year 2017 (through July, 2017).
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 Second Quarter of Fiscal Year 2017 (October-December 2016)
A. New Proffered Revenue: The rezoning for Brookhill was approved November 9, 2016. In addition to transportation improvements, affordable housing, parks and trails, historic resource proffers, and in-kind improvements (elementary and high school sites), a total of $500,000 in cash proffers will be received to fund public transit.
B. Total Proffered Revenue: Total proffered revenue is $49,734,856.45. This reflects annual adjustments to anticipated proffer revenue (not received yet, but obligated) from proffers in which annual adjustments were proffered. ...
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