The Chesterfield County Board of Supervisors unanimously adopted a new cash proffer policy for residential development today. The new policy provides for a maximum cash proffer of $9,400 to address road impacts. This is a reduction from the current $18,966 cash proffer. This new policy does not automatically reduce previously approved cash proffer amounts.
This policy assumes that new residential development will fund future road infrastructure improvements, together with federal and state funding. Each new dwelling unit will be required to pay a portion of the cost of future road infrastructure improvements. This payment amount will be determined by a County model and may not exceed $9,400. The County will consider credits for improvements or dedications that mitigate a development's impact on transportation facilities. In addition, projects that meet County identified revitalization or preservation objectives will have the road cash proffer eliminated.
With the Board's approval, the Chesterfield County planning staff will begin work on developing procedures and parameters to implement this new policy. This will include a process for re-submitting previously approved rezoning cases for a cash proffer reduction, along with a re-examination of other proffers in the case.
For more information on Chesterfield's new cash proffer policy, please contact Jeff Geiger.
Stephanie A. Hood