2011 Code of Virginia
Title 15.2 COUNTIES, CITIES AND TOWNS.
Chapter 22 Planning, Subdivision of Land and Zoning (15.2-2200 thru 15.2-2329)
15.2-2303.3 Cash proffers requested or accepted by a locality
15.2-2303.3. Cash proffers requested or accepted by a locality.
A. No locality may require payment of a cash proffer prior to payment of any fees for the issuance of a building permit for construction on property that is the subject of a rezoning. However, a landowner petitioning for a zoning change may voluntarily agree to an earlier payment, pursuant to 15.2-2298 and 15.2-2303. If the petitioner voluntarily agrees to an earlier payment, the proffered condition may be enforced as to the petitioner and any successor in interest according to its terms as part of an approved rezoning.
B. No locality shall either request or accept a cash proffer whose amount is scheduled to increase annually, from the time of proffer until tender of payment, by a percentage greater than the annual rate of inflation, as calculated by referring to the Consumer Price Index for all urban consumers (CPI-U), 1982-1984=100 (not seasonally adjusted) as reported by the United States Department of Labor, Bureau of Labor Statistics or the Marshall and Swift Building Cost Index.
(2005, c. 552.)
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