                                 CODE OF VIRGINIA

CASH PROFFERS REQUESTED OR ACCEPTED BY A LOCALITY (§ 15.2-2303.3)

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 &#xA7;&#xA7; 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.

C. No locality shall request or accept any provision of any proffer entered
pursuant to &#xA7; 15.2-2298, 15.2-2303, or 15.2-2303.1 in which the profferor
purports to waive future legal rights against the locality or its agents. Any
such proffer provision contained in a proffer entered and enacted on or after
January 1, 2012, shall be severable from the remainder of the proffer and shall
be void ab initio. In the event that a proffer containing such a provision is
entered and enacted on or after January 1, 2012, the rezoning to which the
proffer containing such provision is attached shall not be nullified, rescinded,
or repealed, however described or delineated, by reason of any alleged breach of
such a provision by the profferor, notwithstanding any provisions of the proffer
to the contrary.

HISTORY: 2005, c. 552; 2012, c. 798.