§ 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.)
Sections: Previous 15.2-2299 15.2-2300 15.2-2301 15.2-2302 15.2-2303 15.2-2303.1 15.2-2303.2 15.2-2303.3 15.2-2304 15.2-2305 15.2-2306 15.2-2307 15.2-2307.1 15.2-2308 15.2-2309 NextLast modified: April 16, 2009