AGENDA DATE: 10/4/2017
TITLE: Fiscal Year 2017 Annual Proffer Report
Title
BODY
SUBJECT/PROPOSAL/REQUEST: Report on cash and non-cash proffer revenue and expenditures July 2016-July 2017
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:
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 include updates on non-cash proffers. The last quarterly report was provided to the Board on April 5, 2017. With that report, proffer reporting was switched to a yearly basis. This report includes cash proffer information for FY 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 Fiscal Year 2017
A. New Proffered Revenue: Two rezonings were approved this fiscal year that increased the amount of estimated total proffered revenue to be received. Brookhill was approved November 9, 2016 and a total of $500,000 in cash proffers will be received to fund public transit. The Foothills/Daily property was rezoned February 8, 2017 and an estimated $893,606 in cash proffers will be received for the CIP.
B. Total Proffered Revenue: Total proffered revenue is $50,265,932.45.
C. Cash Revenue: The County received a total of $1,546,350.48 from existing cash proffers during fiscal year 2017. (Attachment A)
D. Appropriations: A total of $1,168,101.09 was appropriated during fiscal year 2017. (Attachment A)
E. Expenditures: A total of $77,952.72 was expended. (Attachment A)
F. Current Available Funds: As of June 30, 2017, the available proffered cash on-hand is $6,050,198.82 (including interest earnings on proffer revenue received). Some of these...
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