In a unanimous vote by the Board of Supervisors, Chesterfield County will reduce the maximum cash proffer fee from $18,966 per dwelling to $9,400.
The board voted on the issue last Wednesday on the recommendation by the newly appointed county administrator, Joseph Casey. This is the first reduction to cash proffers in 25 years.
With other revenue sources, Casey said there is enough revenue from cash proffers, which are to be used to offset the cost of impacts that residential developments have on public infrastructure, to fund the school system’s 5-year capital improvement plan.
Both Casey and the Board of Supervisors see a lower cash proffer as an opportunity to spur development in areas targeted for revitalization.