FOR IMMEDIATE RELEASE
“Contradictory Consequences” White Paper Examines Cash Proffers Unintended Negative Impacts
Charlottesville, VA – A new white paper outlines significant negative economic and ecological impacts of cash proffers on community development in Central Virginia.
The Free Enterprise Forum’s “Contradictory Consequences” draws on statewide research and case studies to illustrate the challenges implementing a cash proffer program.
The Albemarle County Fiscal Impact Review Committee is scheduled to discuss recalculating their cash proffer program in March. The committee has been instructed by staff that their role is not to consider the policy discussion but only the mathematical calculation of the proffer amount. The “Contradictory Consequences” paper calls on the Board of Supervisors to “Repeal the Rezoning Ransom”. Specific negative impacts of cash proffers illustrated in the paper include:
· reduced land value
· reduced property tax revenue
· increased “by right” development
· false financial hope
· reduced economic vitality
· reduced adherence to Comprehensive Plan
· increased pressure on rural areas
· increased leapfrog development.
Free Enterprise Forum President Neil Williamson said, “Localities across the Commonwealth are waking up to recognize the siren’s song of cash proffers is too good to be true. Now is the time to contemplate significant proffer reform. Our research suggests repeal of Cash Proffers will result in increased economic vitality and adherence to the comprehensive plan.
“Perhaps the Albemarle County Board of Supervisors, and other localities, will take a fresh look at what they are really getting from the cash proffer program and how this policy negatively impacts their vision for the future. Our goal with this independent research is to reach out to the community and start this important discussion,” Williamson said.
“Contradictory Consequences” was written and researched by Free Enterprise Forum President Neil Williamson. Tracking local government since 2002, Williamson’s examination generated a well documented, balanced review of the many legal issues and economic concerns surrounding implementation of a cash proffer policy.
The Free Enterprise Forum is a privately funded, public policy organization. The entire report can be accessed under the reports tab at www.freeenterpriseforum.org.