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HomeMy WebLinkAboutZMA201600013 Proffers 2023-02-01PROFFER STATEMENT WILLOW GLEN Date: June 2016 ZMA#: 2016- Willow Glen Amendment #1 Tax Map Parcel #: 03200-00-00-049170, 03200-00-00-049I0, and 03200-00-00-049JO 19.27 acres to be rezoned from Planned Residential Development CTRD") to PRD to amend proffers Dickerson Ridge LLC, a Virginia limited liability company, is the fee simple owner (the "Owner") of Tax Map 32, Parcels 49F, 49I, and 49J (the "Property") which is the subject of the zoning map amendment application #ZMA-2016- known as "Willow Glen." The Applicant for Willow Glen is Sugaray Two, LLC, a Virginia limited liability company. The Willow Glen community is herein referred to as the "Project." Pursuant to Section 33.3 of the Albemarle County Zoning Ordinance, Owner hereby voluntary proffers the conditions listed in this Proffer Statement, which shall be applied to the Property if the rezoning is approved by Albemarle County. These conditions are proffered as part of the rezoning and it is agreed that the conditions are reasonable. This proffer statement shall supersede and replace in all respects the proffer statement approved by the Board of Supervisors in connection with ZMA-2006-19. 1. Affordable Housing. The Owner shall provide affordable housing equal to fifteen percent (15%) of the total residential dwelling units within the Project in the form of for sale or lease affordable dwelling units (the "Affordable Dwelling Units" or "Affordable Units"). The Affordable Dwelling Units shall be comprised of one or more of the following unit types: single- family attached housing (townhouses or duplexes) or condominiums. The Owner or its successor in interest reserves the right to provide the Affordable Dwelling Units in a variety of ways, utilizing the above mentioned unit types alone or in combination as outlined below. A. For -Sale Affordable Units. The for -sale Affordable Dwelling Units shall be affordable to households with incomes up to eighty percent (80%) of the area median family income (the "Affordable Unit Qualifying Income"), such that the housing costs consisting of principal, interest, real estate taxes, and homeowner's insurance (PITI) do not exceed thirty percent (30%) of the Affordable Unit Qualifying Income, provided, however, that in no event shall the selling price of such affordable units be required to be less than the greater of One Hundred Ninety Thousand Four Hundred Dollars ($190,400) or sixty-five percent (65%) of the applicable Virginia Housing Development Authority (VHDA) maximum mortgage for first-time home buyers at the beginning of the 90-day identification and qualification period referenced below. The Owner or his successor in interest may at its option facilitate the provision of down payment assistance loans to reduce the out-of-pocket cash requirement costs to the homebuyer, such as, but not limited to a "silent" second lien Deed of Trust, so that the resultant first mortgage and housing costs remain at or below the parameters described herein. All financial programs or instruments described herein must be acceptable to the primary mortgage lender. Any "silent" second lien Deed of Trust executed as part of this paragraph shall be donated to the County of Albemarle or its designee to be used to address affordable housing. For purposes of calculating the price of the Affordable Dwelling Units, the value of Seller -paid closing costs shall be excluded from the selling price of such Affordable Dwelling Units. B. For -Lease Affordable Dwelling Units. (i) The initial net rent for each for -rent Affordable Unit shall not exceed the then - current and applicable maximum net rent as published by the County Housing Office. In each subsequent calendar year, the monthly net rent for each for -rent Affordable Unit may be increased up to three percent (3 %). For purposes of this proffer statement, the term "net rent" means that the rent does not include tenant -paid utilities. The requirement that the rents for such for -rent Affordable Units may not exceed the maximum rents established in this Proffer I shall apply for a period of ten (10) years following the date the certificate of occupancy is issued by the County for each for -rent Affordable Unit, or until the units are sold as affordable units as defined by the County's Affordable Housing Policy, whichever comes first (the "Affordable Term"). (ii). Conveyance of Interest - All instruments conveying any interest in the for - lease Affordable Dwelling Units during the Affordable Term shall contain language reciting that such unit is subject to the terms of this Paragraph 1(B). In addition, all contracts pertaining to a conveyance of any for -lease Affordable Dwelling Unit, or any part thereof, during the Affordable Term, shall contain a complete and full disclosure of the restrictions and controls established by this Paragraph 1(B). Prior to the conveyance of any interest in any for -lease Affordable Dwelling Unit during the Affordable Term, the then -current owner shall notify the County in writing of the conveyance and provide the name, address and telephone number of the potential grantee, and state that the requirements of this Paragraph I (B)(ii) have been satisfied. (iii). Reporting Rental Rates. During the Affordable Term, within thirty (30) days of each rental or lease term for each for -rent Affordable Unit, the then -current owner shall provide to the Albemarle County Housing Office a copy of the rental or lease agreement for each such unit rented that shows the rental rate for such unit and the term of the rental or lease agreement. In addition, during the Affordable Term, the then -current owner shall provide to the County, if requested, any reports, copies of rental or lease agreements, or other data pertaining to rental rates as the County may reasonably require. C. Phasing of Affordable Units. Each subdivision plat and site plan for land within the Property shall designate the lots or units, as applicable, that will, subject to the terms and conditions of this proffer, incorporate Affordable Units as described herein, and the aggregate number of such lots or units designated for Affordable Units within each subdivision plat and site plan shall constitute a minimum of twelve percent (12%) of the lots in such subdivision plat or site plan. Notwithstanding the foregoing, however, the Owner may "carry-over" or "bank" credits for Affordable Units in the event an individual subdivision plat or site plan designates affordable units that in the aggregate exceed the twelve percent (12%) minimum for such subdivision plat or site plan, and such additional Affordable Units may be allocated toward the 2 twelve percent (12%) minimum on any future subdivision plat or site plan, provided however, that the maximum number of Affordable Units that may be carried over or banked shall not exceed twelve percent (12%) of the total units on any subdivision plat or site plan. D. Notification Period; County Cash Option. (i). Notification Period. All purchasers of the Affordable Dwelling Units shall be approved by the Albemarle County Office of Housing or its designee. The then -current owner/builder shall provide the County or its designee a period of ninety (90) days to identify and pre -qualify an eligible purchaser for the Affordable Unit(s). The ninety (90) day period shall commence upon written notice from the then -current owner/builder that the Unit(s) is within one hundred twenty (120) days of completion and, that on or before the end of such one hundred twenty (120) day period shall be ready for occupancy. If the County or its designee does not provide a qualified purchaser who executes a contract of purchase during this ninety (90) day period, the then -current owner/builder shall have the right to sell or lease the Unit(s) without any restriction on sales or lease price or income of the purchaser(s), provided, however, that any Unit(s) sold or leased without such restriction shall nevertheless be counted toward the number of Affordable Units required to be provided pursuant to the terns of this proffer. The requirements of this proffer shall apply only to the first sale of each of the Affordable Dwelling Units that are purchased. Nothing herein shall preclude the then -current owner/builder from working with the County Housing Department prior to the start of the notification periods described herein in an effort to identify qualifying purchasers for the Affordable Units. (ii). County Option for Cash In Lieu of Affordable Units. If at any time prior to the County's approval of any preliminary site plan or subdivision plat for the Property which includes one or more for -sale Affordable Dwelling Units, the Housing Office informs the then - current owner/builder in writing that it may not have a qualified purchaser for one or more of the for -sale Affordable Dwelling Units at the time that the then -current owner/builder expects the units to be completed and that the Housing Office will instead accept a cash contribution to the Housing Office to support affordable housing programs in the amount of Nineteen Thousand One Hundred Dollars ($19,100) in lieu of each affordable unit(s), then the then -current owner/builder shall pay such cash contribution to the County prior to obtaining a certificate of occupancy for the unit(s) that were originally planned to be Affordable Dwelling Units, and the then -current owner/builder shall have the right to sell the Unit(s) without any restriction on sales price or income of the purchaser(s). If all of any portion of the cash contribution has not been exhausted by the County for the stated purpose within five (5) years of the date it was contributed, all unexpended funds shall be refunded to the party that contributed the funds. For the purposes of this proffer, such Affordable Dwelling Units shall be deemed to have been provided when the subsequent owner/builder provides written notice to the Albemarle County Office of Housing or its designee that the Affordable Unit(s) will be available for sale. E. Inspections. The County shall have the right, upon reasonable notice and subject to all applicable privacy laws, to periodically inspect the records of the Owner or any successors in interest for the purposes of assuring compliance with this paragraph 1. 2. Cash Proffer. A. The Owner shall contribute cash to the County in the following amounts for each dwelling unit constructed within the Property that is not an Affordable Dwelling Unit. The cash contributions shall be used to address the fiscal impacts of development on the County's public facilities and infrastructure (i.e., schools, public safety, libraries, parks and transportation) identified in the County's Capital Improvements Program. The cash contributions shall be paid prior to issuance of a building permit for the category of units described in this paragraph 2 in the following amounts: (i). Four Thousand Nine Hundred and Eighteen Dollars ($4,918) for each single-family detached dwelling unit; (ii). Three Thousand Eight Hundred and Forty -Five Dollars ($3,845) for each single family attached dwelling unit that is not an Affordable Dwelling Unit. (iii). Zero Dollars ($0.00) for each Affordable Dwelling Unit The cash contribution for each such unit shall be paid prior to or at the time of issuance of the building permit for each unit, as applicable. B. Annual Adiustment of Cash Proffers. Beginning January 1, 2018, the amount of each cash contribution required herein shall be adjusted annually until paid, to reflect any increase or decrease for the preceding calendar year in the Comparative Cost Multiplier, Regional City Average, Southeast Average, Category C: Masonry Bearing Walls issued by Marshall Valuation Service (a/k/a Marshall & Swift) (the "Index") or the most applicable Marshall & Swift index determined by the County if publication of the specific index referenced herein in discontinued. In no event shall any cash contribution amount be adjusted to a sum less than the amount initially established by these proffers. The annual adjustment shall be made by multiplying the proffered cash contribution amount for the preceding year by a fraction, the numerator of which shall be the Index as of December I in the year preceding the calendar year most recently ended, and the denominator of which shall be the Index as of December 1 in the preceding calendar year. For each cash contribution that is being paid in increments, the unpaid incremental payments shall be correspondingly adjusted each year. 3. Connection to Town Center Drive. The Owner shall complete construction of an extension of "Road D" as shown on the Application Plan as a vehicular connection to the future Town Center Drive in the area shown on the Application Plan, to the standards contained in Sections 14-410H and 14-422 of the County Code and shown on the sheet of the Application Plan entitled "Conceptual Road Sections" (the "Town Center Drive Connection"). The Town Center Drive Connection shall be completed by the later to occur of: (a) eighteen (18) months after issuance of a final site plan approval for the first phase of the Project; or (b) eighteen (18) months after the owner of tax map parcel 32-50 dedicates to public use the public right-of-way determined to be appropriate by VDOT and the County Engineer for the Town Center Drive Connection, and also dedicates to the Owner all drainage, construction and other easements necessary for the Owner to construct the Town Center Drive Connection. For purposes of this proffer 3, construction of the rd Town Center Drive Connection shall be deemed complete when it is ready to be recommended by the Albemarle County Board of Supervisors for acceptance into the state -maintained system, and the Owner has obtained from the County Engineer a written determination that the Town Center Drive Connection is safe and convenient for traffic. The Town Center Drive Connection may be shifted from the area shown on the Application Plan to a location more suitable to both the Owner and the County which still provides access from Willow Glen to Town Center Drive, upon approval of the County Engineer and the Owner. WITNESS the following duly authorized signatures: Owner: DICKERSON RIDGE LLC, a Virginia Limited Liability Company I0 Printed Name: Title: 31484304_1 WILLIAMS MULLEN Direct Dial: 434.951.5709 vlong@williamsmullen.com September 17, 2018 VIA HAND DELIVERY AND E-MAIL Rachel Falkenstein, rfalkenstein(cbalbemarle.org Principal Planner Albemarle County Community Development 401 McIntire Road Charlottesville. VA 22902 RE: Willow Glen Proffer Amendment ZMA-2016-00013 — Supplemental Letter Dear Rachel: On behalf of Dickerson Ridge, LLC (the "Applicant"), the owner of Tax Map Parcels 03200-00- 00-049F0, 03200-00-00-04910, and 03200-00-00-049JO (the "Property"), we requested a proffer amendment, ZMA-2016-00013 (the "Proffer Amendment"), in June of 2016. This letter and the enclosed materials serve to supplement the Proffer Amendment. Background Timeline: 2007 Comprehensive Plan Amendment (CPA-2006-00003) changed the Property's land use designation from Office/R&D/Flex/Light Industrial to Urban Density Residential Zoning Map Amendment (ZMA-2006-00019) changed the Property's zoning classification from Rural Area (RA) to Planned Residential Development (PRD) 2008 Final Site Plan approved for 234 units (9.88 dwelling units per acre) 32 of the 36 residential units of Phase 1 were completed Great Recession Halts Construction New Demand for Flex/Light Industrial Space 2017 Comprehensive Plan Amendment (CPA-2017-00001) request submitted to change a portion of the Property's land use designation from Urban Density Residential back to Office/R&D/Flex/Light Industrial New Stream Buffer Regulations — Project no longer economically viable 321 East Main Street, Suite 400 Charlottesville, VA 22902 T 434.951.5700 F 434,817.0977 williamsmullen.com l AProfessional Corporation WILLIAMS MULLEN September 17, 2018 Page 2 2018 Site Plan Amendment and Variation Request to replace the condominium buildings with townhomes, reducing the total allowable residential units by 93, to 141 units, to be filed. As noted in the timeline above, the Property has been subject to various planning applications, including the first rezoning and comprehensive plan amendment in 2006 (the "First Application"). Due to the Great Recession, construction on the approved residential units was postponed. After several years, the economy revitalized and there was newfound demand for office/light industrial space. To adapt to these market changes, the Applicant submitted a second comprehensive plan amendment and rezoning request in 2017 and earlier this year (the "Second Application"). The Second Application would have allowed for approximately an acre of commercial or light industrial space, as well as replaced the condominium buildings with townhomes, among several other changes. Between the time the First Application was approved and the Second Application was submitted, the County's stream buffer regulations were amended, expanding the stream buffer area applicable to the Property. As a result of the expanded stream buffer area, the Second Application was no longer economically viable, for it substantially reduces the number of lots the Property can yield. Thus, the Applicant withdrew the Second Application, and is no longer requesting a commercial element be added to the project, eliminating the necessity to rezone the Property. However, the Applicant is still requesting several changes to the Property through a site plan amendment and variation request. These requests propose to replace the condominium buildings with townhomes and some single-family detached homes. The overall density will be reduced by 93 units, to a total of 141 units instead of 234 units. In addition, the site plan amendment and variation propose to reduce the potential impact on the streams on the Property from 290 linear feet to approximately 275 linear feet, which is a reduction of 15 linear feet and is 25 linear feet below the allowable LISACE/DEQ impact. Proffer Amendment In 2013, the Virginia General Assembly enacted legislation, § 15.2-2303.2D of the Code of Virginia, relating to cash proffers (the "2013 Proffer Law"). The 2013 Proffer Law stated that "no cash payment proffered shall be used for any capital improvement to an existing facility, such as a renovation or technology upgrade, that does not expand the rapacity of such facility or for any operating expense of any existing facility such as ordinary maintenance or repair" § 15.2- 2303.2D (emphasis added). In response to such legislation, the County enlisted the Fiscal Impact Advisory Committee ("FIAC") to analyze how to amend its formulaic cash proffer program to conform to state law. FIAC was formed in recognition of the fact that the County's methodology for determining cash proffer amounts (a uniform formula applied to each project tied to the County's general capital improvement needs) may not comply with the 2013 Proffer Law's requirement that each new project proffers' contribute only to capacity needs beyond ordinary maintenance or repair. On September 22, 2015, FIAC presented its recommendation to the Board of Supervisors. As part of the recommendation, FIAC stated that the recalculated maximum per unit cash proffer amount, by dwelling unit type, should be $4,918 for Single Family Detached (SFD) units, $3,845 for Single Family Attached / Townhouse (SFA/TH) units, and $5,262 for Multifamily (MF) units. WILLIAMS MULLEN September 17, 2018 Page 3 The much reduced numbers reflected the goal of the Virginia General Assembly of decreasing barriers to growth and development across the state, which became even more critical after the Great Recession. However, the FIAC recommendations were not implemented by the County, in part, because Virginia's General Assembly went further in restricting localities' cash proffer programs. On March 8, 2016, the General Assembly enacted § 15.2-2303.4 of the Code of Virginia, to come into effect on the following July 1 (the "2016 Proffer Law"). This Proffer Amendment was submitted prior to when the 2016 Proffer Law became effective and is therefore not subject to its more stringent restrictions. However, this Proffer Amendment is subject to the 2013 Proffer Law and under such regulations, the reduced proffer amounts presented by FIAC should control. As evidenced by the timeline above, the Applicant has had to adjust to various market conditions over the years. The Virginia General Assembly has similarly revised the Virginia Code accordingly, with the specific intention of encouraging development, adding more and more stringency to localities' ability to accept certain proffers. As a result, more recent projects may be subject to less costly proffers than projects that were previously approved. Because the newer projects have less costly proffers, these developers can accept lower prices for their lots and/or can more easily absorb the substantial recent increase in construction costs. This leaves the more recent projects at a competitive advantage over the older projects subject to previous versions of the proffer law. This competitive advantage may paralyze a developer's ability to complete construction of his or her project. Because proffers are not paid until a Certificate of Occupancy is issued for each lot, the result of this competitive advantage created by changes in market conditions and revisions to the proffer law is that localities may never actually receive the proffered funds — if not unit is ever built, the cash proffer is never paid. Cash proffers are only paid to localities if the units are actually constructed, which requires a project to remain economically viable. The Applicant faces a similar situation to the one outlined above. The Applicant is subject to proffer amounts that far exceed the figures resulting from the 2013 Proffer Law: • First Application proffer figures: o $17,500 for each single family detached dwelling and o $11,900 for each single family attached dwelling • FIAC figures recommended after the 2013 Proffer Law: o $4,918 for each single family detached dwelling and o $3,845 for each single family detached dwelling The Applicant was forced to halt construction after the Great Recession and therefore proffers are no longer being paid to the County. Moreover, the Applicant is forced to compete with projects constructed after the 2013 Proffer Law, which may have a $5,000 or less cost basis. As a result, the Applicant may be forced to abandon the development, in which case the County will obtain no proffer payments. To avoid that situation, the Applicant requests to be subject to the 2013 Proffer Law so that the project may proceed with less of a competitive disadvantage as to new projects. WILLIAMS MULLEN September 17, 2018 Page 4 In addition, in November of 2013, the County adopted a policy to only apply proffer figures to those units beyond the number of units allowed on the applicable property by -right. This policy was adopted for the Brookhill and Oakleigh projects, among others. The justification for the policy change was for reasons of fairness. The purpose of cash proffers is to mitigate the potential impacts of residential development outside the scope of currently existing zoning designations. The justification being that the County can budget, plan and coordinate community amenities based on allowable development within existing zoning designations, but it cannot predict requests for changes to those designations. Because of the unpredictability and potential consequential impacts on community amenities borne out of rezonings, cash proffer policies were instituted to offset such potential impacts. Based on the policy justifications outlined above, these proffered amounts should necessarily only include those impacts above and beyond what is currently allowed by right. For these reasons, we request the proffer figures from the 2013 Proffer Law not apply to the 10 units allowed by -right under the original Rural Area (RA) zoning designation of the Property. Please do not hesitate to contact us should you have any questions. Thank you for your careful consideration of our request. Sincerely, vow. �Wt' Valerie W. Long cc: George W. Ray, Jr., Dickerson Ridge, LLC Steve Edwards, Edwards Design Studio Enclosed: ZMA Resubmittal Application Form Proffer Statement ZMA-2006-00019 Proposed Proffer Statement ZMA-2016-00013 Redline Showing Changes of Proffer Statement 36897146_2 PROFFER STATEMENT WILLOW GLEN Date: September 17, 2018 ZMA#: 2016-00013 Willow Glen Amendment #1 Tax Map Parcel #: 03200-00-00-049170, 03200-00-00-049I0, and 03200-00-00-049JO 19.27 acres to be rezoned from Planned Residential Development ("PRD") to PRD to amend proffers. Dickerson Ridge LLC, a Virginia limited liability company, is the fee simple owner (the "Owner") of Tax Map 32, Parcels 49F, 491, and 49J (the "Property") which is the subject of the zoning map amendment application #ZMA-2016-00013 known as "Willow Glen." The Applicant for Willow Glen is Sugaray Two, LLC, a Virginia limited liability company. The Willow Glen community is herein referred to as the "Project." Pursuant to Section 33.3 of the Albemarle County Zoning Ordinance, Owner hereby voluntary proffers the conditions listed in this Proffer Statement, which shall be applied to the Property if the rezoning is approved by Albemarle County. These conditions are proffered as part of the rezoning and it is agreed that the conditions are reasonable. This proffer statement shall supersede and replace in all respects the proffer statement approved by the Board of Supervisors in connection with ZMA-2006-19. 1. Affordable Housiue. The Owner shall provide affordable housing equal to fifteen percent (15%) of the total residential dwelling units within the Project in the form of for sale or lease affordable dwelling units (the "Affordable Dwelling Units" or "Affordable Units"). The Affordable Dwelling Units shall be comprised of one or more of the following unit types: single- family attached housing (townhouses or duplexes) or condominiums. The Owner or its successor in interest reserves the right to provide the Affordable Dwelling Units in a variety of ways, utilizing the above mentioned unit types alone or in combination as outlined below. Prior to the approval of ZMA 2016-00013, the property was zoned Rural Area (RA), and thus had by - right development yield of 10 dwelling units. Therefore, the cash contribution for compliance with the 15% Affordable Housing Requirement shall begin after a certificate of occupancy for the loth dwelling unit within the Project is issued and prior to the Owner obtaining a certificate of occupancy for the 11th dwelling unit within the Project. A. For -Sale Affordable Units. The for -sale Affordable Dwelling Units shall be affordable to households with incomes up to eighty percent (801/o) of the area median family income (the "Affordable Unit Qualifying Income"), such that the housing costs consisting of principal, interest, real estate taxes, and homeowner's insurance (PITI) do not exceed thirty percent (30%) of the Affordable Unit Qualifying Income, provided, however, that in no event shall the selling price of such affordable units be required to be less than the greater of One Hundred Ninety Thousand Four Hundred Dollars ($190,400) or sixty-five percent (65%) of the applicable Virginia Housing Development Authority (VHDA) maximum mortgage for first-time home buyers at the beginning of the 90-day identification and qualification period referenced below. The Owner or his successor in interest may at its option facilitate the provision of down payment assistance loans to reduce the out-of-pocket cash requirement costs to the homebuyer, such as, but not limited to a "silent" second lien Deed of Trust, so that the resultant first mortgage and housing costs remain at or below the parameters described herein. All financial programs or instruments described herein must be acceptable to the primary mortgage lender. Any "silent" second lien Deed of Trust executed as part of this paragraph shall be donated to the County of Albemarle or its designee to be used to address affordable housing. For purposes of calculating the price of the Affordable Dwelling Units, the value of Seller -paid closing costs shall be excluded from the selling price of such Affordable Dwelling Units. B. For -Lease Affordable Dwelling Units. (i) The initial net rent for each for -rent Affordable Unit shall not exceed the then - current and applicable maximum net rent as published by the County Housing Office. In each subsequent calendar year, the monthly net rent for each for -rent Affordable Unit may be increased up to three percent (3%). For purposes of this proffer statement, the term "net rent" means that the rent does not include tenant -paid utilities. The requirement that the rents for such for -rent Affordable Units may not exceed the maximum rents established in this Proffer I shall apply for a period of ten (10) years following the date the certificate of occupancy is issued by the County for each for -rent Affordable Unit, or until the units are sold as affordable units as defined by the County's Affordable Housing Policy, whichever comes first (the "Affordable Term"). (ii). Conveyance of Interest - All instruments conveying any interest in the for - lease Affordable Dwelling Units during the Affordable Term shall contain language reciting that such unit is subject to the terms of this Paragraph 1(B). In addition, all contracts pertaining to a conveyance of any for -lease Affordable Dwelling Unit, or any part thereof, during the Affordable Term, shall contain a complete and full disclosure of the restrictions and controls established by this Paragraph 1(B). Prior to the conveyance of any interest in any for -lease Affordable Dwelling Unit during the Affordable Term, the then -current owner shall notify the County in writing of the conveyance and provide the name, address and telephone number of the potential grantee, and state that the requirements of this Paragraph I (B)(ii) have been satisfied. (iii). Reporting Rental Rates. During the Affordable Term, within thirty (30) days of each rental or lease term for each for -rent Affordable Unit, the then -current owner shall provide to the Albemarle County Housing Office a copy of the rental or lease agreement for each such unit rented that shows the rental rate for such unit and the term of the rental or lease agreement. In addition, during the Affordable Term, the then -current owner shall provide to the County, if requested, any reports, copies of rental or lease agreements, or other data pertaining to rental rates as the County may reasonably require. C. Phasing of Affordable Units. Each subdivision plat and site plan for land within the Property shall designate the lots or units, as applicable, that will, subject to the terms and conditions of this proffer, incorporate Affordable Units as described herein, and the aggregate number of such lots or units designated for Affordable Units within each subdivision plat and site plan shall constitute a minimum of twelve percent (12%) of the lots in such subdivision plat or site plan. Notwithstanding the foregoing, however, the Owner may "carry-over" or "bank" credits for Affordable Units in the event an individual subdivision plat or site plan designates affordable units that in the aggregate exceed the twelve percent (12%) minimum for such subdivision plat or site plan, and such additional Affordable Units may be allocated toward the twelve percent (121%) minimum on any future subdivision plat or site plan, provided however, that the maximum number of Affordable Units that may be carried over or banked shall not exceed twelve percent (12%) of the total units on any subdivision plat or site plan. D. Notification Period; County Cash Option. (i). Notification Period. All purchasers of the Affordable Dwelling Units shall be approved by the Albemarle County Office of Housing or its designee. The then -current owner/builder shall provide the County or its designee a period of ninety (90) days to identify and pre -qualify an eligible purchaser for the Affordable Unit(s). The ninety (90) day period shall commence upon written notice from the then -current owner/builder that the Unit(s) is within one hundred twenty (120) days of completion and, that on or before the end of such one hundred twenty (120) day period shall be ready for occupancy. If the County or its designee does not provide a qualified purchaser who executes a contract of purchase during this ninety (90) day period, the then -current owner/builder shall have the right to sell or lease the Unit(s) without any restriction on sales or lease price or income of the purchaser(s), provided, however, that any Unit(s) sold or leased without such restriction shall nevertheless be counted toward the number of Affordable Units required to be provided pursuant to the terms of this proffer. The requirements of this proffer shall apply only to the first sale of each of the Affordable Dwelling Units that are purchased. Nothing herein shall preclude the then -current owner/builder from working with the County Housing Department prior to the start of the notification periods described herein in an effort to identify qualifying purchasers for the Affordable Units. (ii). County Option for Cash In Lieu of Affordable Units. If at any time prior to the County's approval of any preliminary site plan or subdivision plat for the Property which includes one or more for -sale Affordable Dwelling Units, the Housing Office informs the then - current owner/builder in writing that it may not have a qualified purchaser for one or more of the for -sale Affordable Dwelling Units at the time that the then -current owner/builder expects the units to be completed and that the Housing Office will instead accept a cash contribution to the Housing Office to support affordable housing programs in the amount of Nineteen Thousand One Hundred Dollars ($19,100) in lieu of each affordable unit(s), then the then -current owner/builder shall pay such cash contribution to the County prior to obtaining a certificate of occupancy for the unit(s) that were originally planned to be Affordable Dwelling Units, and the then -current owner/builder shall have the right to sell the Unit(s) without any restriction on sales price or income of the purchaser(s). If all of any portion of the cash contribution has not been exhausted by the County for the stated purpose within five (5) years of the date it was contributed, all unexpended funds shall be refunded to the party that contributed the funds. For the purposes of this proffer, such Affordable Dwelling Units shall be deemed to have been provided when the subsequent owner/builder provides written notice to the Albemarle County Office of Housing or its designee that the Affordable Unit(s) will be available for sale. E. Inspections. The County shall have the right, upon reasonable notice and subject to all applicable privacy laws, to periodically inspect the records of the Owner or any successors in interest for the purposes of assuring compliance with this paragraph 1. 2. Cash Proffer. A. The Owner shall contribute cash to the County in the following amounts for each dwelling unit constructed within the Property that is not an Affordable Dwelling Unit. The cash contributions shall be used to address the fiscal impacts of development on the County's public facilities and infrastructure (i.e., schools, public safety, libraries, parks and transportation) identified in the County's Capital Improvements Program. Prior to the approval of ZMA 2016- 00013, the property was zoned Rural Area (RA), and thus had by -right development yield of 10 dwelling units. Therefore, the cash contribution for Market Rate Units shall begin after a certificate of occupancy for the 1 Oth dwelling unit within the Project is issued and prior to the Owner obtaining a certificate of occupancy for the 11 th dwelling unit within the Project. The cash contributions shall be paid prior to issuance of a building permit for the category of units described in this paragraph 2 in the following amounts: (i). Four Thousand Nine Hundred and Eighteen Dollars ($4,918) for each single-family detached dwelling unit; (ii). Three Thousand Eight Hundred and Forty -Five Dollars ($3,845) for each single family attached dwelling unit that is not an Affordable Dwelling Unit. (iii). Zero Dollars ($0.00) for each Affordable Dwelling Unit The cash contribution for each such unit shall be paid prior to or at the time of issuance of the building permit for each unit, as applicable. B. Annual Adjustment of Cash Proffers. Beginning January 1, 2018, the amount of each cash contribution required herein shall be adjusted annually until paid, to reflect any increase or decrease for the preceding calendar year in the Comparative Cost Multiplier, Regional City Average, Southeast Average, Category C: Masonry Bearing Walls issued by Marshall Valuation Service (a/k/a Marshall & Swift) (the "Index") or the most applicable Marshall & Swift index determined by the County if publication of the specific index referenced herein in discontinued. In no event shall any cash contribution amount be adjusted to a sum less than the amount initially established by these proffers. The annual adjustment shall be made by multiplying the proffered cash contribution amount for the preceding year by a fraction, the numerator of which shall be the Index as of December I in the year preceding the calendar year most recently ended, and the denominator of which shall be the Index as of December 1 in the preceding calendar year. For each cash contribution that is being paid in increments, the unpaid incremental payments shall be correspondingly adjusted each year. 3. Connection to Town Center Drive. THIS PROFFER REOUIREMENT HAS BEEN SATISFIED IN FULL. The Owner shall complete construction of an extension of "Road D" as shown on the Application Plan as a vehicular connection to the future Town Center Drive in the area shown on the Application Plan, to the standards contained in Sections 14410H and 14-422 of the County Code and shown on the sheet of the Application Plan entitled "Conceptual Road Sections" (the "Town Center Drive Connection"). The Town Center Drive Connection shall be completed by the later to occur of: (a) eighteen (18) months after issuance of a final site plan approval for the first phase of the Project; or (b) eighteen (18) months after the owner of tax map parcel 32-50 dedicates to public use the public right-of-way determined to be appropriate by VDOT and the County Engineer for the Town Center Drive Connection, and also dedicates to the Owner all drainage, construction and other easements necessary for the Owner to construct the Town Center Drive Connection. For purposes of this proffer 3, construction of the Town Center Drive Connection shall be deemed complete when it is ready to be recommended by the Albemarle County Board of Supervisors for acceptance into the state -maintained system, and the Owner has obtained from the County Engineer a written determination that the Town Center Drive Connection is safe and convenient for traffic. The Town Center Drive Connection may be shifted from the area shown on the Application Plan to a location more suitable to both the Owner and the County which still provides access from Willow Glen to Town Center Drive, upon approval of the County Engineer and the Owner. WITNESS the following duly authorized signatures: Owner: DICKERSON RIDGE LLC, a Virginia Limited Liability Company By: Printer Title: 314843043.dw PROFFER STATEMENT WILLOW GLEN Date: June 12016 ZMA#: 2016- Willow Glen Amendment #1 Tax Map Parcel#: 03200-00-00-049F0,03200-00-00-049I0,and 03200-00-00-049JO 19.27 acres to be rezoned from Planned Residential Development ("PRD") to PRD to amend proffers Dickerson Ridge LLC, a Virginia limited liability company, is the fee simple owner (the "Owner") of Tax Map 32, Parcels 49F, 49I, and 49J (the "Property") which is the subject of the zoning map amendment application #ZMA-2016- known as "Willow Glen." The Applicant for Willow Glen is Sugaray Two, LLC, a Virginia limited liability company. The Willow Glen community is herein referred to as the "Project." Pursuant to Section 33.3 of the Albemarle County Zoning Ordinance, Owner hereby voluntary proffers the conditions listed in this Proffer Statement, which shall be applied to the Property if the rezoning is approved by Albemarle County. These conditions are proffered as part of the rezoning and it is agreed that the conditions are reasonable. This proffer statement shall supersede and replace in all respects the proffer statement approved by the Board of Supervisors in connection with ZMA-2006-19. 1. Affordable Housing. The Owner shall provide affordable housing equal to fifteen percent (15%) of the total residential dwelling units within the Project in the form of for sale or lease affordable dwelling units (the "Affordable Dwelling Units" or "Affordable Units"). The Affordable Dwelling Units shall be comprised of one or more of the following unit types: single- family attached housing (townhouses or duplexes) or condominiums. The Owner or its successor in interest reserves the right to provide the Affordable Dwelling Units in a variety of ways, utilizing the above mentioned unit types alone or in combination as outlined below. A. For -Sale Affordable Units. The for -sale Affordable Dwelling Units shall be affordable to households with incomes up to eighty percent (80%) of the area median family income (the "Affordable Unit Qualifying Income"), such that the housing costs consisting of principal, interest, real estate taxes, and homeowner's insurance (PITI) do not exceed thirty percent (30%) of the Affordable Unit Qualifying Income, provided, however, that in no event shall the selling price of such affordable units be required to be less than the greater of One Hundred Ninety Thousand Four Hundred Dollars ($190,400) or sixty-five percent (65%) of the applicable Virginia Housing Development Authority (VHDA) maximum mortgage for first-time home buyers at the beginning of the 90-day identification and qualification period referenced below. The Owner or his successor in interest may at its option facilitate the provision of down payment assistance loans to reduce the out-of-pocket cash requirement costs to the homebuyer, such as, but not limited to a "silent" second lien Deed of Trust, so that the resultant first mortgage and housing costs remain at or below the parameters described herein. All financial programs or instruments described herein must be acceptable to the primary mortgage lender. Any "silent" second lien Deed of Trust executed as part of this paragraph shall be donated to the County of Albemarle or its designee to be used to address affordable housing. For purposes of calculating the price of the Affordable Dwelling Units, the value of Seller -paid closing costs shall be excluded from the selling price of such Affordable Dwelling Units. B. For -Lease Affordable Dwelling Units. (i) The initial net rent for each for -rent Affordable Unit shall not exceed the then - current and applicable maximum net rent as published by the County Housing Office. In each subsequent calendar year, the monthly net rent for each for -rent Affordable Unit may be increased up to three percent (3%). For purposes of this proffer statement, the term "net rent" means that the rent does not include tenant -paid utilities. The requirement that the rents for such for -rent Affordable Units may not exceed the maximum rents established in this Proffer 1 B shall apply for a period of ten (10) years following the date the certificate of occupancy is issued by the County for each for -rent Affordable Unit, or until the units are sold as affordable units as defined by the County's Affordable Housing Policy, whichever comes first (the "Affordable Term"). (ii). Conveyance of Interest - All instruments conveying any interest in the for - lease Affordable Dwelling Units during the Affordable Term shall contain language reciting that such unit is subject to the terms of this Paragraph 1(B). In addition, all contracts pertaining to a conveyance of any for -lease Affordable Dwelling Unit, or any part thereof, during the Affordable Term, shall contain a complete and full disclosure of the restrictions and controls established by this Paragraph 1(B). Prior to the conveyance of any interest in any for -lease Affordable Dwelling Unit during the Affordable Term, the then -current owner shall notify the County in writing of the conveyance and provide the name, address and telephone number of the potential grantee, and state that the requirements of this Paragraph 1(B)(ii) have been satisfied. (iii). Reporting Rental Rates. During the Affordable Term, within thirty (30) days of each rental or lease term for each for -rent Affordable Unit, the then -current owner shall provide to the Albemarle County Housing Office a copy of the rental or lease agreement for each such unit rented that shows the rental rate for such unit and the term of the rental or lease agreement. In addition, during the Affordable Term, the then -current owner shall provide to the County, if requested, any reports, copies of rental or lease agreements, or other data pertaining to rental rates as the County may reasonably require. C. Phasing of Affordable Units. Each subdivision plat and site plan for land within the Property shall designate the lots or units, as applicable, that will, subject to the terms and conditions of this proffer, incorporate Affordable Units as described herein, and the aggregate number of such lots or units designated for Affordable Units within each subdivision plat and site plan shall constitute a minimum of twelve percent (12%) of the lots in such subdivision plat or site plan. Notwithstanding the foregoing, however, the Owner may "carry-over" or "bank" credits for Affordable Units in the event an individual subdivision plat or site plan designates affordable units that in the aggregate exceed the twelve percent (12%) minimum for such subdivision plat or site plan, and such additional Affordable Units may be allocated toward the twelve percent (12%) minimum on any future subdivision plat or site plan, provided however, that the maximum number of Affordable Units that may be carried over or banked shall not exceed twelve percent (12%) of the total units on any subdivision plat or site plan. D. Notification Period; County Cash Option. (i). Notification Period. All purchasers of the Affordable Dwelling Units shall be approved by the Albemarle County Office of Housing or its designee. The then -current owner/builder shall provide the County or its designee a period of ninety (90) days to identify and pre -qualify an eligible purchaser for the Affordable Unit(s). The ninety (90) day period shall commence upon written notice from the then -current owner/builder that the Unit(s) is within one hundred twenty (120) days of completion and, that on or before the end of such one hundred twenty (120) day period shall be ready for occupancy. If the County or its designee does not provide a qualified purchaser who executes a contract of purchase during this ninety (90) day period, the then -current owner/builder shall have the right to sell or lease the Unit(s) without any restriction on sales or lease price or income of the purchaser(s), provided, however, that any Unit(s) sold or leased without such restriction shall nevertheless be counted toward the number of Affordable Units required to be provided pursuant to the terms of this proffer. The requirements of this proffer shall apply only to the first sale of each of the Affordable Dwelling Units that are purchased. Nothing herein shall preclude the then -current owner/builder from working with the County Housing Department prior to the start of the notification periods described herein in an effort to identify qualifying purchasers for the Affordable Units. (ii). County Option for Cash In Lieu of Affordable Units. If at any time prior to the County's approval of any preliminary site plan or subdivision plat for the Property which includes one or more for -sale Affordable Dwelling Units, the Housing Office informs the then - current owner/builder in writing that it may not have a qualified purchaser for one or more of the for -sale Affordable Dwelling Units at the time that the then -current owner/builder expects the units to be completed and that the Housing Office will instead accept a cash contribution to the Housing Office to support affordable housing programs in the amount of Nineteen Thousand One Hundred Dollars ($19,100) in lieu of each affordable unit(s), then the then -current owner/builder shall pay such cash contribution to the County prior to obtaining a certificate of occupancy for the unit(s) that were originally planned to be Affordable Dwelling Units, and the then -current owner/builder shall have the right to sell the Unit(s) without any restriction on sales price or income of the purchaser(s). If all of any portion of the cash contribution has not been exhausted by the County for the stated purpose within five (5) years of the date it was contributed, all unexpended funds shall be refunded to the party that contributed the funds. For the purposes of this proffer, such Affordable Dwelling Units shall be deemed to have been provided when the subsequent owner/builder provides written notice to the Albemarle County Office of Housing or its designee that the Affordable Unit(s) will be available for sale. E. Inspections. The County shall have the right, upon reasonable notice and subject to all applicable privacy laws, to periodically inspect the records of the Owner or any successors in interest for the purposes of assuring compliance with this paragraph 1. 2. Cash Proffer A. The Owner shall contribute cash to the County in the following amounts for each dwelling unit constructed within the Property that is not an Affordable Dwelling Unit. The cash contributions shall be used to address the fiscal impacts of development on the County's public facilities and infrastructure (i.e., schools, public safety, libraries, parks and transportation) identified in the County's Capital Improvements Program. The cash contributions shall be paid prior to issuance of a building permit for the category of units described in this paragraph 2 in the following amounts: (i). Four Thousand Nine Hundred and Eighteen Dollars ($4,918) for each single-family detached dwelling unit; (ii). Three Thousand Eight Hundred and Forty -Five Dollars ($3,845) for each single family attached dwelling unit that is not an Affordable Dwelling Unit. (iii). Zero Dollars ($0.00) for each Affordable Dwelling Unit The cash contribution for each such unit shall be paid prior to or at the time of issuance of the building permit for each unit, as applicable. B. Annual Adiustment of Cash Proffers. Beginning January 1, 2018, the amount of each cash contribution required herein shall be adjusted annually until paid, to reflect any increase or decrease for the preceding calendar year in the Comparative Cost Multiplier, Regional City Average, Southeast Average, Category C: Masonry Bearing Walls issued by Marshall Valuation Service (a/k/a Marshall & Swift) (the "Index") or the most applicable Marshall & Swift index determined by the County if publication of the specific index referenced herein in discontinued. In no event shall any cash contribution amount be adjusted to a sum less than the amount initially established by these proffers. The annual adjustment shall be made by multiplying the proffered cash contribution amount for the preceding year by a fraction, the numerator of which shall be the Index as of December 1 in the year preceding the calendar year most recently ended, and the denominator of which shall be the Index as of December 1 in the preceding calendar year. For each cash contribution that is being paid in increments, the unpaid incremental payments shall be correspondingly adjusted each year. 3. Connection to Town Center Drive. The Owner shall complete construction of an extension of "Road D" as shown on the Application Plan as a vehicular connection to the future Town Center Drive in the area shown on the Application Plan, to the standards contained in Sections 14-410H and 14-422 of the County Code and shown on the sheet of the Application Plan entitled "Conceptual Road Sections" (the "Town Center Drive Connection"). The Town Center Drive Connection shall be completed by the later to occur of: (a) eighteen (18) months after issuance of a final site plan approval for the first phase of the Project; or (b) eighteen (18) months after the owner of tax map parcel 32-50 dedicates to public use the public right-of-way determined to be appropriate by VDOT and the County Engineer for the Town Center Drive Connection, and also dedicates to the Owner all drainage, construction and other easements necessary for the Owner to construct the Town Center Drive Connection. For purposes of this proffer 3, construction of the Town Center Drive Connection shall be deemed complete when it is ready to be recommended by the Albemarle County Board of Supervisors for acceptance into the state -maintained system, and the Owner has obtained from the County Engineer a written determination that the Town Center Drive Connection is safe and convenient for traffic. The Town Center Drive Connection may be shifted from the area shown on the Application Plan to a location more suitable to both the Owner and the County which still provides access from Willow Glen to Town Center Drive, upon approval of the County Engineer and the Owner. WITNESS the following duly authorized signatures: Owner: DICKERSON RIDGE LLC, a Virginia Limited Liability Company I0 Printed Name: Title: 31484304_1 PROFFER STATEMENT WILLOW GLEN Date: September 17, 2018 ZMA#: 2016-00013 Willow Glen Amendment #1 Tax Map Parcel #: 03200-00-00-049170, 03200-00-00-049I0, and 03200-00-00-049JO 19.27 acres to be rezoned from Planned Residential Development ("PRD") to PRD to amend proffers. Dickerson Ridge LLC, a Virginia limited liability company, is the fee simple owner (the "Owner") of Tax Map 32, Parcels 49F, 49I, and 49J (the "Property") which is the subject of the zoning map amendment application #ZMA-2016-00013 known as "Willow Glen." The Applicant for Willow Glen is Sugaray Two, LLC, a Virginia limited liability company. The Willow Glen community is herein referred to as the "Project." Pursuant to Section 33.3 of the Albemarle County Zoning Ordinance, Owner hereby voluntary proffers the conditions listed in this Proffer Statement, which shall be applied to the Property if the rezoning is approved by Albemarle County. These conditions are proffered as part of the rezoning and it is agreed that the conditions are reasonable. This proffer statement shall supersede and replace in all respects the proffer statement approved by the Board of Supervisors in connection with ZMA-2006-19. 1. Affordable Housin¢. The Owner shall provide affordable housing equal to fifteen percent (15%) of the total residential dwelling units within the Project in the form of for sale or lease affordable dwelling units (the "Affordable Dwelling Units" or "Affordable Units"). The Affordable Dwelling Units shall be comprised of one or more of the following unit types: single- family attached housing (townhouses or duplexes) or condominiums. The Owner or its successor in interest reserves the right to provide the Affordable Dwelling Units in a variety of ways, utilizing the above mentioned unit types alone or in combination as outlined below. Prior to the approval of ZMA 2016-00013, the property was zoned Rural Area (RA), and thus had by - right development yield of 10 dwelling units. Therefore, the cash contribution for compliance with the 15% Affordable Housing Requirement shall begin after a certificate of occupancy for the 10th dwelling unit within the Project is issued and prior to the Owner obtaining a certificate of occupancy for the I Ith dwelling unit within the Project. A. For -Sale Affordable Units. The for -sale Affordable Dwelling Units shall be affordable to households with incomes up to eighty percent (80%) of the area median family income (the "Affordable Unit Qualifying Income"), such that the housing costs consisting of principal, interest, real estate taxes, and homeowner's insurance (PITI) do not exceed thirty percent (30%) of the Affordable Unit Qualifying Income, provided, however, that in no event shall the selling price of such affordable units be required to be less than the greater of One Hundred Ninety Thousand Four Hundred Dollars ($190,400) or sixty-five percent (65%) of the applicable Virginia Housing Development Authority (VHDA) maximum mortgage for first-time home buyers at the beginning of the 90-day identification and qualification period referenced below. The Owner or his successor in interest may at its option facilitate the provision of down payment assistance loans to reduce the out-of-pocket cash requirement costs to the homebuyer, such as, but not limited to a "silent" second lien Deed of Trust, so that the resultant first mortgage and housing costs remain at or below the parameters described herein. All financial programs or instruments described herein must be acceptable to the primary mortgage lender. Any "silent" second lien Deed of Trust executed as part of this paragraph shall be donated to the County of Albemarle or its designee to be used to address affordable housing. For purposes of calculating the price of the Affordable Dwelling Units, the value of Seller -paid closing costs shall be excluded from the selling price of such Affordable Dwelling Units. B. For -Lease Affordable Dwelling Units. (i) The initial net rent for each for -rent Affordable Unit shall not exceed the then - current and applicable maximum net rent as published by the County Housing Office. In each subsequent calendar year, the monthly net rent for each for -rent Affordable Unit may be increased up to three percent (3%). For purposes of this proffer statement, the term "net rent" means that the rent does not include tenant -paid utilities. The requirement that the rents for such for -rent Affordable Units may not exceed the maximum rents established in this Proffer 1 B shall apply for a period of ten (10) years following the date the certificate of occupancy is issued by the County for each for -rent Affordable Unit, or until the units are sold as affordable units as defined by the County's Affordable Housing Policy, whichever comes first (the "Affordable Tenn"). (ii). Conveyance of Interest - All instruments conveying any interest in the for - lease Affordable Dwelling Units during the Affordable Term shall contain language reciting that such unit is subject to the terms of this Paragraph 1(B). In addition, all contracts pertaining to a conveyance of any for -lease Affordable Dwelling Unit, or any part thereof, during the Affordable Term, shall contain a complete and full disclosure of the restrictions and controls established by this Paragraph 1(B). Prior to the conveyance of any interest in any for -lease Affordable Dwelling Unit during the Affordable Term, the then -current owner shall notify the County in writing of the conveyance and provide the name, address and telephone number of the potential grantee, and state that the requirements of this Paragraph I (B)(ii) have been satisfied. (iii). Reporting Rental Rates. During the Affordable Tenn, within thirty (30) days of each rental or lease term for each for -rent Affordable Unit, the then -current owner shall provide to the Albemarle County Housing Office a copy of the rental or lease agreement for each such unit rented that shows the rental rate for such unit and the term of the rental or lease agreement. In addition, during the Affordable Tenn, the then -current owner shall provide to the County, if requested, any reports, copies of rental or lease agreements, or other data pertaining to rental rates as the County may reasonably require. C. Phasing of Affordable Units. Each subdivision plat and site plan for land within the Property shall designate the lots or units, as applicable, that will, subject to the terms and conditions of this proffer, incorporate Affordable Units as described herein, and the aggregate number of such lots or units designated for Affordable Units within each subdivision plat and site plan shall constitute a minimum of twelve percent (12%) of the lots in such subdivision plat or site plan. Notwithstanding the foregoing, however, the Owner may "carry-over" or "bank" credits for Affordable Units in the event an individual subdivision plat or site plan designates affordable units that in the aggregate exceed the twelve percent (12%) minimum for such subdivision plat or site plan, and such additional Affordable Units may be allocated toward the twelve percent (12%) minimum on any future subdivision plat or site plan, provided however, that the maximum number of Affordable Units that may be carried over or banked shall not exceed twelve percent (12%) of the total units on any subdivision plat or site plan. D. Notification Period; County Cash Option. (i). Notification Period. All purchasers of the Affordable Dwelling Units shall be approved by the Albemarle County Office of Housing or its designee. The then -current owner/builder shall provide the County or its designee a period of ninety (90) days to identify and pre -qualify an eligible purchaser for the Affordable Unit(s). The ninety (90) day period shall commence upon written notice from the then -current owner/builder that the Unit(s) is within one hundred twenty (120) days of completion and, that on or before the end of such one hundred twenty (120) day period shall be ready for occupancy. If the County or its designee does not provide a qualified purchaser who executes a contract of purchase during this ninety (90) day period, the then -current owner/builder shall have the right to sell or lease the Unit(s) without any restriction on sales or lease price or income of the purchaser(s), provided, however, that any Unit(s) sold or leased without such restriction shall nevertheless be counted toward the number of Affordable Units required to be provided pursuant to the terms of this proffer. The requirements of this proffer shall apply only to the first sale of each of the Affordable Dwelling Units that are purchased. Nothing herein shall preclude the then -current owner/builder from working with the County Housing Department prior to the start of the notification periods described herein in an effort to identify qualifying purchasers for the Affordable Units. (ii). County Option for Cash In Lieu of Affordable Units. If at any time prior to the County's approval of any preliminary site plan or subdivision plat for the Property which includes one or more for -sale Affordable Dwelling Units, the Housing Office informs the then - current owner/builder in writing that it may not have a qualified purchaser for one or more of the for -sale Affordable Dwelling Units at the time that the then -current owner/builder expects the units to be completed and that the Housing Office will instead accept a cash contribution to the Housing Office to support affordable housing programs in the amount of Nineteen Thousand One Hundred Dollars ($19,100) in lieu of each affordable unit(s), then the then -current owner/builder shall pay such cash contribution to the County prior to obtaining a certificate of occupancy for the unit(s) that were originally planned to be Affordable Dwelling Units, and the then -current owner/builder shall have the right to sell the Unit(s) without any restriction on sales price or income of the purchaser(s). If all of any portion of the cash contribution has not been exhausted by the County for the stated purpose within five (5) years of the date it was contributed, all unexpended funds shall be refunded to the party that contributed the funds. For the purposes of this proffer, such Affordable Dwelling Units shall be deemed to have been provided when the subsequent owner/builder provides written notice to the Albemarle County Office of Housing or its designee that the Affordable Unit(s) will be available for sale. E. Inspections. The County shall have the right, upon reasonable notice and subject to all applicable privacy laws, to periodically inspect the records of the Owner or any successors in interest for the purposes of assuring compliance with this paragraph 1. 2. Cash Proffer. A. The Owner shall contribute cash to the County in the following amounts for each dwelling unit constructed within the Property that is not an Affordable Dwelling Unit. The cash contributions shall be used to address the fiscal impacts of development on the County's public facilities and infrastructure (i.e., schools, public safety, libraries, parks and transportation) identified in the County's Capital Improvements Program. Prior to the approval of ZMA 2016- 00013, the property was zoned Rural Area (RA), and thus had by -right development yield of 10 dwelling units. Therefore, the cash contribution for Market Rate Units shall begin after a certificate of occupancy for the 1 Oth dwelling unit within the Project is issued and prior to the Owner obtaining a certificate of occupancy for the 1 Ith dwelling unit within the Project. The cash contributions shall be paid prior to issuance of a building permit for the category of units described in this paragraph 2 in the following amounts: (i). Four Thousand Nine Hundred and Eighteen Dollars ($4,918) for each single-family detached dwelling unit; (ii). Three Thousand Eight Hundred and Forty -Five Dollars ($3,845) for each single family attached dwelling unit that is not an Affordable Dwelling Unit. (iii). Zero Dollars ($0.00) for each Affordable Dwelling Unit The cash contribution for each such unit shall be paid prior to or at the time of issuance of the building permit for each unit, as applicable. B. Annual Adjustment of Cash Proffers. Beginning January 1, 2018, the amount of each cash contribution required herein shall be adjusted annually until paid, to reflect any increase or decrease for the preceding calendar year in the Comparative Cost Multiplier, Regional City Average, Southeast Average, Category C: Masonry Bearing Walls issued by Marshall Valuation Service (a/k/a Marshall & Swift) (the "Index") or the most applicable Marshall & Swift index determined by the County if publication of the specific index referenced herein in discontinued. In no event shall any cash contribution amount be adjusted to a sum less than the amount initially established by these proffers. The annual adjustment shall be made by multiplying the proffered cash contribution amount for the preceding year by a fraction, the numerator of which shall be the Index as of December 1 in the year preceding the calendar year most recently ended, and the denominator of which shall be the Index as of December 1 in the preceding calendar year. For each cash contribution that is being paid in increments, the unpaid incremental payments shall be correspondingly adjusted each year. 3. Connection to Town Center Drive. THIS PROFFER REQUIREMENT HAS BEEN SATISFIED IN FULL. The Owner shall complete construction of an extension of "Road D" as shown on the Application Plan as a vehicular connection to the future Town Center Drive in the area shown on the Application Plan, to the standards contained in Sections 14-410H and 14-422 of the County Code and shown on the sheet of the Application Plan entitled "Conceptual Road Sections" (the "Town Center Drive Connection"). The Town Center Drive Connection shall be completed by the later to occur of: (a) eighteen (18) months after issuance of a final site plan approval for the first phase of the Project; or (b) eighteen (18) months after the owner of tax map parcel 32-50 dedicates to public use the public right-of-way determined to be appropriate by VDOT and the County Engineer for the Town Center Drive Connection, and also dedicates to the Owner all drainage, construction and other easements necessary for the Owner to construct the Town Center Drive Connection. For purposes of this proffer 3, construction of the Town Center Drive Connection shall be deemed complete when it is ready to be recommended by the Albemarle County Board of Supervisors for acceptance into the state -maintained system, and the Owner has obtained from the County Engineer a written determination that the Town Center Drive Connection is safe and convenient for traffic. The Town Center Drive Connection may be shifted from the area shown on the Application Plan to a location more suitable to both the Owner and the County which still provides access from Willow Glen to Town Center Drive, upon approval of the County Engineer and the Owner. WITNESS the following duly authorized signatures: Owner: DICKERSON RIDGE LLC, a Virginia Limited Liability Company C Printed Name: Title: 31484304_3.doe PROFFER STATEMENT Date: OetoberQ ^�tlr September 17, 2018 ZMA#: 290649 2016-00013 Willow Glen Amendment #1 a n a N b . nor.. 32 p eels 49F non nor no r and nou Tax Map a:. , �z arse 03 00-00-00-049F0.03200-00-00-04910,and 03200-00-00-04210 2- .4a esl 27 acres to be rezoned from Ro -'� Planned Residential Development "Willowifl the Appheation Plan entitled Glen" prepared by Terra lam....... pts n� ,xate-A C'....a.....1.er 1 .2007(« PRD") to ER" amend ron ffers. Dickerson Ridge LLC, a Virginia limited liability company, is the fee simple owner (the "Owner") of Tax Map 32, Parcels 49F, 49fa 49I, 49�and 49KI (the "Property") which is the subject of the zoning map amendment application #ZMA-06-1-92016-00013 known as "Willow Glen." The Applicant for Willow Glen is Sugaray Two, LLC, a Virginia limited liability company. The Willow Glen community is herein referred to as the "Project." Pursuant to Section 33.3 of the Albemarle County Zoning Ordinance, Owner hereby voluntary proffers the conditions listed in this Proffer Statement, which shall be applied to the Property if the rezoning is approved by Albemarle County. These conditions are proffered as part of the rezoning and it is agreed that the conditions are reasonable. This proffer statement shall supersede and regla in n� ec proffer statement approved by the Board of Supervisors in connection with ZMA-2006-19 1. Affordable Housing. The Owner shall provide affordable housing equal to fifteen percent (15%) of the total residential dwelling units within the Project in the form of for sale or lease affordable dwelling units (the "Affordable Dwelling Units" or "Affordable Units"). The Affordable Dwelling Units shall be comprised of one or more of the following unit types: single-family attached housing (townhouses or duplexes) or condominiums. The Owner or its successor in interest reserves the right to provide the Affordable Dwelling Units in a variety of ways, utilizing the above mentioned unit types alone or in combination as outlined below. Prior to the approval of ZM6 2016-00013 the }zrnnerty wm zoned Rural Area (RAI. and thus had by -right development yield of 10 dwelling unite Therefore the cash contribution for compliance with the 15% Affordable Housing Reauirement shall begin after a certificate of occupancy or the 1 Oth dwelling =unit within the Project is issued and prior to the Owner obtaining a certificate of occupancy for the 11 th dwelling unit within the Pr jest. A. For -Sale Affordable Units. The for -sale Affordable Dwelling Units shall be affordable to households with incomes up to eighty percent (80%) of the area median family income (the "Affordable Unit Qualifying Income"), such that the housing costs consisting of principal, interest, real estate taxes, and homeowner's insurance (PITI) do not exceed thirty percent (30%) of the Affordable Unit Qualifying Income, provided, however, that in no event shall the selling price of such affordable units be required to be less than the greater of One Hundred Ninety Thousand Four Hundred Dollars ($190,400) or sixty-five percent (65%) of the applicable Virginia Housing Development Authority (VHDA) maximum mortgage for first-time home buyers at the beginning of the 90-day identification and qualification period referenced below. The Owner or his successor in interest may at its option facilitate the provision of down payment assistance loans to reduce the out-of-pocket cash requirement costs to the homebuyer, such as, but not limited to a "silent" second lien Deed of Trust, so that the resultant first mortgage and housing costs remain at or below the parameters described herein. All financial programs or instruments described herein must be acceptable to the primary mortgage lender. Any "silent" second lien Deed of Trust executed as part of this paragraph shall be donated to the County of Albemarle or its designee to be used to address affordable housing. For purposes of calculating the price of the Affordable Dwelling Units, the value of Seller -paid closing costs shall be excluded from the selling price of such Affordable Dwelling Units. B. For -Lease Affordable Dwelling_ Units. (i) The initial net rent for each for -rent Affordable Unit shall not exceed the then -current and applicable maximum net rent as published by the County Housing Office. In each subsequent calendar year, the monthly net rent for each for -rent Affordable Unit may be increased up to three percent (31/o). For purposes of this proffer statement, the term "net rent" means that the rent does not include tenant -paid utilities. The requirement that the rents for such for -rent Affordable Units may not exceed the maximum rents established in this Proffer I shall apply for a period of ten (10) years following the date the certificate of occupancy is issued by the County for each for -rent Affordable Unit, or until the units are sold as affordable units as defined by the County's Affordable Housing Policy, whichever comes first (the "Affordable Term"). (ii). Conveyance of Interest - All instruments conveying any interest in the for -lease Affordable Dwelling Units during the Affordable Term shall contain language reciting that such unit is subject to the terms of this Paragraph 1(B). In addition, all contracts pertaining to a conveyance of any for -lease Affordable Dwelling Unit, or any part thereof, during the Affordable Term, shall contain a complete and full disclosure of the restrictions and controls established by this Paragraph 1(B). Prior to the conveyance of any interest in any for -lease Affordable Dwelling Unit during the Affordable Term, the then -current owner shall notify the County in writing of the conveyance and provide the name, address and telephone number of the potential grantee, and state that the requirements of this Paragraph 1(13)(ii) have been satisfied. (iii). Reporting Rental Rates. During the Affordable Term, within thirty (30) days of each rental or lease term for each for -rent Affordable Unit, the then -current owner shall provide to the Albemarle County Housing Office a copy of the rental or lease agreement for each such unit rented that shows the rental rate for such unit and the term of the rental or lease agreement. In addition, during the Affordable Term, the then -current owner shall provide to the County, if requested, any reports, copies of rental or lease agreements, or other data pertaining to rental rates as the County may reasonably require. C. Phasing of Affordable Units. Each subdivision plat and site plan for land within the Property shall designate the lots or units, as applicable, that will, subject to the terms and conditions of this proffer, incorporate Affordable Units as described herein, and the aggregate number of such lots or units designated for Affordable Units within each subdivision plat and site plan shall constitute a minimum of twelve percent (12%) of the lots in such subdivision plat or site plan. Notwithstanding the foregoing, however, the Owner may "carry-over" or "bank" credits for Affordable Units in the event an individual subdivision plat or site plan designates affordable units that in the aggregate exceed the twelve percent (12%) minimum for such subdivision plat or site plan, and such additional Affordable Units may be allocated toward the twelve percent (12%) minimum on any future subdivision plat or site plan, provided however, that the maximum number of Affordable Units that may be carried over or banked shall not exceed twelve percent (12%) of the total units on any subdivision plat or site plan. D. Notification Period: County Cash Option. (i). Notification Period. All purchasers of the Affordable Dwelling Units shall be approved by the Albemarle County Office of Housing or its designee. The then -current owner/builder shall provide the County or its designee a period of ninety (90) days to identify and pre -qualify an eligible purchaser for the Affordable Unit(s). The ninety (90) day period shall commence upon written notice from the then -current owner/builder that the Unit(s) is within one hundred twenty (120) days of completion and, that on or before the end of such one hundred twenty (120) day period shall be ready for occupancy. If the County or its designee does not provide a qualified purchaser who executes a contract of purchase during this ninety (90) day period, the then -current owner/builder shall have the right to sell or lease the Unit(s) without any restriction on sales or lease price or income of the purchaser(s), provided, however, that any Unit(s) sold or leased without such restriction shall nevertheless be counted toward the number of Affordable Units required to be provided pursuant to the terms of this proffer. The requirements of this proffer shall apply only to the first sale of each of the Affordable Dwelling Units that are purchased. Nothing herein shall preclude the then -current owner/builder from working with the County Housing Department prior to the start of the notification periods described herein in an effort to identify qualifying purchasers for the Affordable Units. (ii). County Option for Cash In Lieu of Affordable Units. If at any time prior to the County's approval of any preliminary site plan or subdivision plat for the Property which includes one or more for -sale Affordable Dwelling Units, the Housing Office informs the then -current owner/builder in writing that it may not have a qualified purchaser for one or more of the for -sale Affordable Dwelling Units at the time that the then -current owner/builder expects the units to be completed and that the Housing Office will instead accept a cash contribution to the Housing Office to support affordable housing programs in the amount of Nineteen Thousand One Hundred Dollars ($19,100) in lieu of each affordable unit(s), then the then -current owner/builder shall pay such cash contribution to the County prior to obtaining a certificate of occupancy for the unit(s) that were originally planned to be Affordable Dwelling Units, and the then -current owner/builder shall have the right to sell the Unit(s) without any restriction on sales price or income of the purchaser(s). If all of any portion of the cash contribution has not been exhausted by the County for the stated purpose within five (5) years of the date it was contributed, all unexpended funds shall be refunded to the party that contributed the funds. For the purposes of this proffer, such Affordable Dwelling Units shall be deemed to have been provided when the subsequent owner/builder provides written notice to the Albemarle County Office of Housing or its designee that the Affordable Unit(s) will be available for sale. E. Inspections. The County shall have the right, upon reasonable notice and subject to all applicable privacy laws, to periodically inspect the records of the Owner or any successors in interest for the purposes of assuring compliance with this paragraph 1. 0 2. Cash Proffer. A. The Owner shall contribute cash to the County in the following amounts for each dwelling unit constructed within the Property that is not an Affordable Dwelling Unit. The cash contributions shall be used to address the fiscal impacts of development on the County's public facilities and infrastructure (i.e., schools, public safety, libraries, parks and transportation) identified in the County's Capital Improvements Program. Prior to the approval of ZMA Owner obtaining a certificate of occupancy for the I lth dwelling unit within the Project. The cash contributions shall be paid prior to issuance of a building permit for the category of units described in this paragraph 2 in the following amounts: (i). SeventeenE= Thousand Rivehline Hundred au X! t n Dollars ($-1�5004.1 I) for each single-family detached dwelling unit; (ii). €k werta= Thousand Nine-Eigbi Hundred and Fo -Five Dollars ($4- 9, 3 ) for each single family attached dwelling unit that is not an Affordable Dwelling Unit. (iii). Zero Dollars ($0.00) for each Affordable Dwelling Unit The cash contribution for each such unit shall be paid prior to or at the time of issuance of the building permit for each unit, as applicable. B. Annual Adjustment of Cash Proffers. Beginning January 1, 209,2018- the amount of each cash contribution required herein shall be adjusted annually until paid, to reflect any increase or decrease for the preceding calendar year in the Comparative Cost Multiplier, Regional City Average, Southeast Average, Category C: Masonry Bearing Walls issued by Marshall Valuation Service (a/k/a Marshall & Swift) (the "Index") or the most applicable Marshall & Swift index determined by the County if publication of the specific index referenced herein in discontinued. In no event shall any cash contribution amount be adjusted to a sum less than the amount initially established by these proffers. The annual adjustment shall be made by multiplying the proffered cash contribution amount for the preceding year by a fraction, the numerator of which shall be the Index as of December 1 in the year preceding the calendar year most recently ended, and the denominator of which shall be the Index as of December 1 in the preceding calendar year. For each cash contribution that is being paid in increments, the unpaid incremental payments shall be correspondingly adjusted each year. 3. Connection to Town Center Drive. THIS PROFFER RF.OUIREMENT HAS BF,EN SATISFiF,D IN FULL. The Owner shall complete construction of an extension of "Road D" as shown on the Application Plan as a vehicular connection to the future Town Center Drive in the area shown on the Application Plan, to the standards contained in Sections 14-41 OH and 14-422 of the County Code and shown on the sheet of the Application Plan entitled "Conceptual Road Sections" (the "Town Center Drive Connection"). The Town Center Drive Connection shall be completed by the later to occur of: (a) eighteen (18) months after issuance of a final site plan approval for the first phase of the Project; or (b) eighteen (18) months after the owner of tax map parcel 32-50 dedicates to public use the public right-of-way determined to be appropriate by VDOT and the County Engineer for the Town Center Drive Connection, and also dedicates to the Owner all drainage, construction and other easements necessary for the Owner to construct the Town Center Drive Connection. For purposes of this proffer 3, construction of the Town Center Drive Connection shall be deemed complete when it is ready to be recommended by the Albemarle County Board of Supervisors for acceptance into the state -maintained system, and the Owner has obtained from the County Engineer a written determination that the Town Center Drive Connection is safe and convenient for traffic. The Town Center Drive Connection may be shifted from the area shown on the Application Plan to a location more suitable to both the Owner and the County which still provides access from Willow Glen to Town Center Drive, upon approval of the County Engineer and the Owner. WITNESS the following duly authorized signatures: Owner: DICKERSON RIDGE LLC, a Virginia Limited Liability Company M Printed Name: Title: ri Document comparison by Workshare 9 on Monday, September 17, 2018 2:43:29 PM Input: interwovenSite://WM-IW-APP.WILLIAMSMULLEN.COM/I Document 1 ID WOVRIC/31529025/1 #31529025v1<IWOVRIC> - Willow Glen - Proffer Description Statement (2007) interwovenSite://WM-IW-APP.WILLIAMSMULLEN.COM/I Document 2 ID WOVRIC/31484304/3 #31484304v3<IWOVRIC> - Willow Glen - Proposed Description Proffer Statement Rendering set Standard Inserted cell Deleted cell Moved cell Split/Merged cell Padding cell Statistics: Count Insertions 23 Deletions 19 Moved from 0 Moved to 0 Style change 0 Format changed 0 Total changes 42 Ml COUNTY OF ALBEMARLE Department of Community Development 401 McIntire Road, North Wing Charlottesville, Virginia 22902-4596 Phone (434) 296 5832 Fax (434) 972-0012 October 22, 2007 Valerie W. Long 321 East Main Street, Suite 400 Charlottesville, VA 22902 RE: CPA2006-00003 & ZMA # 2006-00019 Willow Glen (Signs # 27 & 29) Tax Map 32, Parcels 49F, 49G, 491, 49J, 49K Dear Ms. Long: Reaardina CPA2004-00003 The Albemarle County Board of Supervisors approved your Comprehensive Plan Amendment to change the land use designation from Industrial Service to Urban Density Residential and to make this latter designation a part of the Places 29 Master Plan. Reaardina ZMA2006-00019 The Board of Supervisors approved your rezoning application by a vote of 6-0 on October 10, 2007, Your rezoning from Rural Areas to Planned Residential District was approved in accordance with the Application Plan dated September 17, 2007 and the attached proffers dated September 17, 2007. Please refer to these documents for any future applications and requests on this property. Please be advised that although the Albemarle County Board of Supervisors took action on the project noted above, no uses on the property as approved above may lawfully begin until all applicable approvals have been received and conditions have been met. This includes: • compliance with applicable PROFFERS; approval of and compliance with SITE PLAN(S) andfor SUBDIVISION PLAT(S); and approval, of a ZONING COMPLIANCE CLEARANCE. If you have questions or comments regarding the above -noted action, please do not hesitate to contact Sherri Proctor at 296-5832. Sincerely, V. Wayne Cilimberg Director of Planning Cc: Sugaray Two, LLC 690 Berkmar Circle, Charlottesville, VA 22901 Dickerson Ridge LLC 690 Berkmar Cir, Charlottesville, VA 22901 Tex Weaver Chuck Proctor (VDOT) Steve Allshouse Sherri Proctor Sarah Baldwin Bruce Woodzell (Real Estate) David Benish Proffers binder File PROFFER STATEMENT Date: October 10, 2007 ZMA#: 2006-19 Willow Glen parcels 49F, 49G, 49I, 49J and 49K Tax Map and Parcel Numbers: Map 32, p 23.681 Acres to be rezoned from Rural Areas to Planned Residential Development in accord with the Application Plan entitled "Willow Glen" prepared by Terra Concepts, PC, dated September 17, 2007 Dickerson Ridge LLC, a Virginia limited liability company, is the fee simple owner (the "Owner") of Tax Map 32, Parcels 49F, 49G, 49I, 49J, and 49K (the "Property") which is the subject of the zoning map amendment application #ZMA-06-19 known as "Willow Glen." The Applicant for Willow Glen is Sugaray Two, LLC, a Virginia limited liability company. The Willow Glen community is herein referred to as the "Project." Pursuant to Section 33.3 of the Albemarle County Zoning Ordinance, Owner hereby voluntary proffers the conditions listed in this Proffer Stat�These conditions are proffered as part oent, which shall be applied to the f the erty if the rezoning is approved by Albemarle County• rezoning and it is agreed that the conditions are reasonable. 1. Affordable Housiae. The Owner shall provide affordable housing equal to fifteen percent (15%) of the total residential, dwelling units within the Project in the form of for sale or lease affordable dwellingunits (the "Affordable Dwelling Units" or "Affordable Units"). The Affordable Dwelling Units shall be comprised of one or more of the following unit types: single- family attached housing (townhouses or duplexes) or condominiums. The Owner or its successor in interest reserves the right to provide the Affordable Dwelling Units in a variety of ways, utilizing the above mentioned unit types alone or in combination as outlined below. A. For -Sale Affordable Units. The for -sale Affordable Dwelling Units shall be affordable to households with incomes up to eighty, percent (80%) of the area median family income (the "Affordable Unit Qualifying Income"), such that the housing costs consisting of principal, interest, real estate taxes, and homeowner's insurance (PITI) do not exceed thirty percent (30%) of the Affordable Unit Qualifying Income, provided, however, that in no event shall the selling price of such affordable units be required to be less than the greater of One Hundred Ninety Thousand Four Hundred Dollars ($1900,4000Aor m um en gage for %fiof the applicable Virginia Housing Development Authority ime home buyers at the beginning of the 90-day identification and qualification period referenced s successor in interest may at its option facilitate the provision of down below. The Owner or hi f-pocket cash requirement costs to the homebuyer, payment assistance loans to reduce the out-o such as, but not limited to a "silent" second lien Deed of Trust, so that the resultant first mortgage and housing costs remain at or below the parameters described herein. All fm�deal programs or instruments described herein must be acceptable to the primary mortgage Any "silent" second lien Deed of Trust executed as part of this paragraph shall be donated to the County of Albemarle or its designee to be used to address affordable housing. For purposes of calculating the price of the Affordable Dwelling Units, the value of Seller -paid closing costs shall be excluded from the selling price of such Affordable Dwelling Units, B. For Lease Affordable Dwelling_ Units. (i) The initial net rent for each for -rent Affordable Unit shall not exceed the then - current and applicable maximum net rent as published by the County Housing Office. In each subsequent calendar year, the monthly net rent for each for -rent Affordable Unit may be increased up to three percent (3%). For purposes of this proffer statement, the term "net rent" means that the rent does not include tenant -paid utilities. The requirement that the rents for such for -rent Affordable Units may ear following the exceed the da a the certific-am rents atershed in this Pr of occupancy is issued by apply fora period of ten (10) y as defirneed by the Countyfor each 'srent Affordab a Ho sing Policy, whichever le Unit, or until the comes first (the "Affordable Term"). (ii). Convevanca of Interest - All instruments conveying any interest in the for - lease Affordable Dwelling Units during the Affordable Tema shall contain language reciting that such unit is subject to the terms of this Paragraph 1(B). In addition, all contracts pertaining to a conveyance of any for -lease Affordable Dwelling Unit, or any part thereof, during the Affordable Term, shall contain a completeoa> theend conveyance ofure f t interest t m any for-leasens and ls established by this Paragraph during t Affordable Dwelling Unit during the Affordable Term, the then -current owner shall notify the ce and provide the name, address and telephone mber of satisfied. e County in writing of the conveyan potential grantee, and state that the requirements of this Paragraph 1(B)(") rri R ortin Rental Rates. During the Affordable Term, within thirty (30) days of each rental or lease term for each for -rent Affordable Unit, the then -current owner shall provide to the Albemarle County Housing Office a copy of the rental or lease agreement for each such unit rented that shows the rental rate for such unit and the term of the rental or lease agreement. in addition, during the Affordable Term, the then -current owner shall provide to the County, if requested, any, reports, copies of rental or lease agreements, or other data pertaining to e rental rates as the County may reasonably require. C. Phasing of Affordable Units. Each subdivision plat and site plan for land within the Property shall designate the lots or units, as applicable, that will, subject to the terms and conditions of this proffer, incorporate Affordable Units as described herein, and the aggregate number of such lots or units designated for Affordable Units within each subdivision plat and site plan shall constitute a minimum of twelve percent (12%) of the lots in sucoh subdivision nkplat or site plan. Notwithstanding the foregoing, however, the Owner may "carry-over" for Affordable Units in the event an individual subdivision plat or site plan designates affordable units that in the aggregate exceed the twelve percent (12%) minimum for such subdivision plat or site plan, and such additional Affordable Units may be allocated edtoward the o twelve percent (12%) minimum on any future subdivision plat or site plan, p , 2 that the maximum number of Affordable Units that maybe carried over or banked shall not exceed twelve percent (12%) of the total units on any subdivision plat or site plan. D. Notification Period' County Cash Option. (i). _Notification _Period• All purchasers of the Affordable Dwelling Units shall be approved by the Albemarle County Office of Housing or its designee. The then -current owner/builder shall provide the County or its designee a period of ninety (90) days to identify shall and pre -qualify an eligible purchaser for the Affordable Unit(s). The ninety (90) day period commence upon written notice from the then -current owner/builder that the Unit(s) is within one hundred twenty (120) days of completion and, that on or before the end of such one hundred twenty (120) day period shall be ready for occupancy. If the County or its designee does not provide a qualified purchaser who executes a contract of purchase during this ninety (90) day period, the then -current owner/builder shall have the right to sell orleasehe Unit(ers that any Out any restriction on sales or lease price or income of the purchaser(s), provided, Unit(s) sold or leased without such restriction shall nevertheless be counted toward the number of Affordable Units required to be provided pursuant to the terms of this proffer. The requirements of this proffer shall apply only to the first sale of each of the Affordable Dwelling Units that are purchased. Nothing herein preclude or to the start of the notification periods t owner/builder m working with the County Housing DepartmentP described herein in an effort to identify qualifying Purchasers for the Affordable Units. (ii). Coun lion for Cash In Lieu of Affordable Units. If at any y timhprior to the county's approval of any preliminary site plan or subdivision plat for the Property includes one or more for -sale Affordable Dwelling Units, the Housing Oce informs for one or more of the the then - current owner/builder in writing that it may not have a qualified purchaser for -sale Affordable Dwelling Units at the time that the then -current ownerlbuilder expects the units O be completed and that the Housing office 1n instead ount t a cash contribution o fNineteen Thousandto the Housing One Hundred Office to support affordable housing programs_ shall Dollars ($19,100) in lieu of each affordable unit(s), then �certificate then -current ownoccupaer/builder forer unit(s) such cash contribution to the County prior to obtaining that were originally Planned to be Affordable Dwelling Units, and the then -current owner/builder shall have the right to sell the Unit(s) without any restriction on sales price or income of the purchaser(s). If all of any portion of the cash contribution has not been exhausted by the County for the stated purpose within five (5) years of the date it was contributed, all unexpended funds shall be refunded to the party that contributed the funds. For the purposes of this proffer, such Affordable Dwelling Units shall be deemed to have been provided when the subsequent owner/builder provides written notice to the Albemarle County Office of Housing or its designee that the Affordable Unit(s) will be available for sale. E. hrsMetions. The County shall have the right, upon reasonable notice and subject to all applicable privacy laws, to periodically inspect the records of the Owner or any successors in interest for the purposes of assuring compliance with this paragraph 1. 2. Cashes r A. The Owner shall contribute cash to the County in the following amounts for each dwelling unit constructed within the Property that is not an Affordable Dwelling Unit. The cash contributions shall be used to address the fiscal impacts development l pame and the Co nty' transportation) facilities and infrastructure (i.e., schools, p safety, libraries, identified in the County's Capital Improvements Program. its a cash descbed in thiscontributions paragraph 2pm the aid prior to issuance of a building permit for the category following amounts: (i). Seventeen Thousand Five Hundred Dollars ($17,500) for each single-family detached dwelling unit; (ii). Eleven Thousand Nine Hundred Dollars ($11,900) for each single family attached dwelling unit that is not an Affordable Dwelling Unit. (iii). Zero Dollars ($0.00) for each Affordable Dwelling Unit The cash contribution for each such unit shall be paid prior to or at the time of issuance of the building permit for each unit, as applicable. B. Annual Adjustment of Cash Proffers. Beginning January 1, 2008, the amount of each cash contribution required herein shall be adjusted annually until paid, to reflect any increase or decrease for the preceding calendar year in the Comparative Cow multiplier,ed br, Marshall Valuation Average, Southeast Average, Category C: Masonry Bearing Service (a/k/a Marshall & Swift) (the "Index' or the most applicable Marshall & Swift index determined by the County if publication of the specific index referenced herein in discontinued. In no event shall any cash contribution amount be adjusted to a sum less than tyinga he p initially established by these proffers. The annual adjustment shall be made b multi 1 ' the proffered cash contribution amount for the preceding year by a fraction the numerator of which shall be the Index as of December 1 in the year preceding the calendar year most recently ended, and the denominator of which shall be the Index as of December 1 in the preceding calendar year. For each cash contribution that is being paid in increments, the unpaid incremental payments shall be correspondingly adjusted each year. 3. Connection to Town Center Drive. The Owner shall complete construction of an extension of Road D" as shown on the Application Plan as a vehicular connection to the future Town Center Drive in the area shown on the Application Plan, to the standards contained in Sections 14-410H and 14-422 of the County Code and shown on the sheet of the Application Plan entitled "Conceptual Road Sections" (the "Town Center Drive Connect18 months The Town Center i Drivee Connection shall be completed by the later to occur of: (a) eighteeneighteen months months after the of a final site plan approval for the first phase of the Project; or (b) gh ( ) owner of tax map parcel 32-50 dedicates to public use the public right-of-way he Town Center Drive Connection, and also ed to be appropriate by VDOT and the County Engineer dedicates to the Owner all drainage, construction and other easements necessary for the Owner to construct the Town Center Drive Connection. For purposes of this proffer 3, construction of the Town Center Drive Cormection shall be deemed complete when it is ready to be recommended 4 acceptance into intairied by the Albemarle County Board of Supervisors forneer a written determination athat the Town and the Owner has obtained from the County Engior traffic. The _ Ceer Center Drive Connection is safe and convemen It atio Plan to a loca It on more)surtable to both may be shifted from the area shown on the Application the Owner and the County which still provides access from Willow Glen to Town Center Drive, upon approval of the County Engineer and the Owner. WITNESS the following duly authorized signatures: Owner: DICKERSON RIDGE LLC, a Virginia Limited Liability Company 141b781vi0