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HomeMy WebLinkAboutZMA201600006 Staff Report 2017-10-03COUNTY OF ALBEMARLE STAFF REPORT SUMMARY Project Name: ZMA201600006 Glenmore K2C Staff: J.T. Newberry, Senior Planner Proffer Amendment Planning Commission Public Hearing: December Board of Supervisors Public Hearing: TBD 6, 2016 Owner: Glenmore Partners LLC Applicant: Jess Achenbach, Red Dirt Development Acreage: Approximately 86.23 acres Rezone from: No change in zoning is proposed. Applicant proposes to reduce cash proffer amounts approved with ZMA200600016. TMP: 09400-00-00-01600; 093A5-00-00-00100; By -right use: PRD with up to 110 dwelling units 093A5-K2-OB-00800 Magisterial District: Scottsville Proffers: Yes Proposal: Request to reduce per unit cash proffer Requested # of Dwelling Units: No change; amount from $16,590 per lot to $4,918 per lot. Maximum of 110 units allowed per previous ZMA. DA (Development Area): Village of Rivanna Comp. Plan Designation: Neighborhood Density (Low) — residential (2 units or less/acre), supporting uses such as places of worship, schools, public and institutional uses; and Parks and Green Systems — parks, playgrounds, play fields, greenways, trails, paths, recreational facilities and equipment, plazas, outdoor sitting areas, natural areas, preservation of stream buffers, floodplains and steep slopes adjacent to rivers and streams. Character of Property: The properties are currently Use of Surrounding Properties: Single-family under development in accordance with subdivision detached residences within various sections of plat approvals for Glenmore Section K2C. Glenmore and the Running Deer subdivision. Factors Favorable: Factors Unfavorable: 1. None identified. 1. The cash proffered and accepted by the Board when the property was originally rezoned was voluntary. 2. The cash proffered and accepted by the Board when the property was originally rezoned was a reasonable amount to address the impacts from the rezoning. RECOMMENDATION: Staff recommends denial of ZMA201600006 Glenmore K2C Proffer Amendment. STAFF PERSON: J.T. Newberry PLANNING COMMISSION: December 6, 2016 BOARD OF SUPERVISORS TBD PETITION PROJECT: ZMA201600006 Glenmore K2C Proffer Amendment MAGISTERIAL DISTRICT: Scottsville TAX MAP/PARCEL: 093A5000000100, 093A5K20B00800, 09400000001600 LOCATION: Approximately 1,500 feet southwest of the intersection of Carrol Creek Road and Waterside Way. PROPOSAL: Reduce the currently approved cash proffer amount of $16,590 per lot to the cash proffer amount recommended by the Fiscal Impact Advisory Committee of $4,918 per lot. PETITION: Request to amend proffers on property zoned PRD which allows a variety of development for residential purposes and ancillary uses. No new dwellings proposed. OVERYLAYS: Entrance Corridor, Steep Slopes (Managed and Preserved), Flood Hazard PROFFERS: Yes COMPREHENSIVE PLAN: Neighborhood Density (Low) — residential (2 units or less/acre); supporting uses such as places of worship, schools, public and institutional uses in the Village of Rivanna Master Plan. CHARACTER OF THE AREA This request is comprised of three parcels in the Leake area of Glenmore along Carroll Creek Road (see Attachment A). Parcel 94-16 currently contains two single family dwellings under construction while the other two parcels remain vacant. Farringdon Road borders the area to the north and The Preserve at Glenmore is located to the east. PLANNING AND ZONING HISTORY Portions of the area under consideration were included in previous rezoning applications within Glenmore dating back to 1994. Below is a list of the most recent application history relevant to the current request. • ZMA200600016 Glenmore Leake Expansion (approved 11/14/2007) • SUB201100056 Glenmore K2B (Lots 1-8) — Final (approved 9/27/2012) • SUB201400181 Glenmore K2C (Lots 1-26) — Final (approved 12/31/2015) SPECIFICS OF THE PROPOSAL In 2006, the area currently under consideration was included in a rezoning to the "Leake" portion of Glenmore. This rezoning added 110.94 acres of PRD zoning and permitted up to 110 single family dwelling units. As a part of that rezoning, the applicant proffered $16,590 per lot to address impacts to public facilities in accordance with the County's cash proffer policy at the time (see Attachment B). The applicant is now requesting a reduction from the currently approved cash proffers of $16,590 per lot to the cash proffer amount recommended by the Fiscal Impact Advisory Committee (FIAC) of $4,918 per lot (see Attachment C). Because the only requested change to the zoning at this time is a reduction of the cash proffer, analysis in this report is limited to that topic only. APPLICANT'S JUSTIFICATION FOR THE REQUEST As justification, the applicant provided a summary of recent legislative changes to state-wide laws related to proffers, as well as the County's efforts to respond to these changes. The ZMA201600006 Glenmore K2C Proffer Amendment Planning Commission December 6, 2016 Page 2 applicant additionally noted their reduction request is consistent with the $4,918 per unit amount for single family dwellings recommended by the FIAC committee in July 2015. COMPREHENSIVE PLAN The property is designated Neighborhood Density (Low) within the Village of Rivanna Master Plan, which allows residential uses at a density of up to 2 units/acre, with supporting uses such as places of worship, schools, public and institutional uses. The applicant is not proposing any changes to the land use with this request. DISCUSSION In September 2014, the Board of Supervisors directed the Fiscal Impact Advisory Committee (FIAC) to provide advice and recommendations to the Planning Commission and the Board of Supervisors on revisions to the credit provisions and the per unit cash proffer amounts of the Cash Proffer Policy. FIAC made its recommendation to the Board and Commission in July 2015 including a reduction in cash proffers to the following amounts: ■ $4,918.00 for each single family detached unit, and; ■ $3,845.00 for each single family attached unit or townhouse. The recommended reductions were based on the County's FY 2015-2016 capital improvements program (CIP, which covers future years 1-5) and capital needs assessment (CNA, which covers future years 6-10). The CIP and CNA considered a reduced number of projects proposing new capital improvements or projects that would expand the capacity of existing facilities; projects that would merely maintain existing facilities without expanding capacity were not considered. Updated information based on the 2016-2017 CIP would yield the following amounts: ■ $7333.18 for each single family detached unit ■ $5447.57 for each single family attached unit or townhouse ■ $7419.91 for each apartment or condominium The cash proffer policy was repealed by the Board on June 8, 2016 and the County has not developed a new policy for evaluating impacts from rezonings. There are currently no cash proffer amounts or model for determining cash proffer amounts endorsed by the County. Io- date, the Board has not approved recent rezonings to reduce cash proffer amounts. Two similar requests for cash proffer reductions were denied on July 13, 2016 - - Out of Bounds (ZMA201600003) and Spring Hill Village (ZMA201500009). The Board indicated that the 2016- 2017 figures could be used for new projects in process as of July 1, 2016. This Glenmore rezoning, however, would not qualify as a new project. The applicant has not provided an evaluation of impacts or justification for the reduction other than references to state code changes and the outdated Fiscal Impact Advisory report. The cash proffered and accepted by the Board when the property was originally rezoned was consistent with the cash proffer policy and was intended to address the impacts from the rezoning. The then applicant/owner signed the current proffer form that stating the proffers are voluntarily as part of the rezoning and acknowledged they are reasonable. The proffers were approved under prior legislation and the County is not required to evaluate this request under the new proffer legislation. Based on these items and past actions of the Board for a similar type of request, staff cannot support the applicant's request to reduce the cash proffer amounts. ZMA201600006 Glenmore K2C Proffer Amendment Planning Commission December 6, 2016 Page 3 SUMMARY Staff has not identified any favorable factors to this rezoning request. Staff has identified the following factor as unfavorable to this request: 1. The cash proffered and accepted by the Board when the property was originally rezoned was voluntary. 2. The cash proffered and accepted by the Board when the property was originally rezoned was a reasonable amount to address the impacts from the rezoning. RECOMMENDATIONS Staff recommends denial of ZMA201600006 Glenmore K2C Proffer Amendment because no new information evaluating impacts from the development has been provided. Furthermore, no information has been provided to justify a reduction of the current cash proffer amounts. PLANNING COMMISSION MOTION — ZMA201600006 Glenmore K2C Proffer Amendment: A. Should a Planning Commissioner choose to recommend approval of this zoning map amendment: Move to recommend approval of ZMA201600006 Glenmore K2C Proffer Amendment with the revised proffers submitted by the applicant. B. Should a Planning Commissioner choose to recommend denial of this zoning map amendment: Move to recommend denial of ZMA201600006 Glenmore K2C Proffer Amendment with reasons for denial. Should a commissioner motion to recommend denial, he or she should state the reason(s) for recommending denial. Attachments - A — Location Map B — ZMA200600016 Action Letter C — Proposed Amended Proffers ZMA201600006 Glenmore K2C Proffer Amendment Planning Commission December 6, 2016 Page 4 �� .)1'IIRT' T }per' '� y",\ � .+Y} �i<n ♦._ ��.,. .,\ '� e}e' Aw WE N e• �• &AA IMJL jut IA ; � f/ -._ .��;} �� � n , ' k- �. � L.y - ��4r/a •� G.R. Mp. 495 FUrj D.R. In Fur) 41. ,# 4- •. 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Z 40 V y W moo T- H V W Q N FLE MMOER sw a� COUNTY OF ALBEMARLE Department of Community Development 401 McIntire Road, North Wing Charlottesville, Virginia 22902-4596 Phone (434) 296-5832 Fax (434) 972-4012 December 19, 2007 Glenmore Associates Limited Partnership c/o Michael Barnes Po Box 5207 Charlottesville, Va 22905 RE: ZMA2006-00016 Glenmore, Section K2, Leake Property Dear Mr. Barnes: The Board of Supervisors approved your rezoning application for ZMA2006-0016 on November 14, 2007. Your rezoning from RA - Rural Area zoning district to PRD - Planned Residential District - residential was approved in accordance with the attached proffers signed November 13, 2007 and dated November 14, 2007 and the Application Plan dated November 14, 2007. Please refer to these documents for any future applications and requests on this property. The Board's action also resulted in approval of the requested critical slopes waiver. A private street request and waivers to curb, gutter, and planting strip requirements were approved by the Planning Commission at their August 21, 2007 meeting. The Planning Commission also approved a waiver to provide sidewalks on all streets except on Farringdon Road and Carroll Creek Road. For Farringdon and Carroll Creed Roads, a paved path on one side of the street only was approved. The Board of Supervisors approved the location of the paths on the Application Plan dated November 14, 2007. 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 and APPLICATION PLAN; • approval of and compliance with a SITE PLAN and/or SUBDIVISION PLAT; 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� V. 2anerClirnt Director of Planr Cc: Tex Weaver Chuck Proctor (VDOT) Steve Allshouse Sherri Proctor Sarah Baldwin Bruce Woodzell (Real Estate) Proffers binder (if applicable) File Original Proffer X Amended Proffer (Amendment # w) PROFFER FORM Date: November 14, 2007 ZMA # 2006-016 Tax Map and Parcel Number(s) Tax Map 93 Parcels Al-1 A5-1 and Tax Map Parcel 94-74 and portions of Tax Map 94 Parcels 15, 16, 16A. 111.73 Acres to be rezoned from PRD/RA to PRD The Owner hereby voluntarily proffers that if the Albemarle County Board of Supervisors acts to rezone the Property from the RA to the PRD zoning district as requested, the Owner shall develop the Property in accord with the following proffered development conditions (each, a "Proffer," and collectively, the "Proffers"), which the Owner acknowledges are reasonable, pursuant to Section 15.2-2303 of the Code of Virginia, 1950, as amended, and pursuant to Section 33.3 of the Albemarle County Zoning Ordinance. If rezoning application ZMA 2006- 015 is denied, these proffers shall immediately be null and void and of no force and effect. This Proffer Statement shall relate to the Application Plan entitled "Master Plan, Glenmore", dated November 2, 1990, and prepared by Clower Associates, Inc., the Application Plan entitled "Glenmore Planned Residential Development Application Plan for ZMA 99-016, dated April 12, 2000 and more specifically the plan entitled, "Glenmore Section K-2", dated June 15, 2007, last revised November 14, 2007, and prepared by Roudabush, Gale, and Associates, Inc. l . The development of the Property shall be limited to those uses allowed by right under Section 19.3.1 (1), (5), (6), (7), (8), (9), (10) and (11) and those uses allowed by special use permit under Section 19.3.2(2), (4), (8), (9), (10) and (11) of the Zoning Ordinance of Albemarle County, Virginia (hereinafter referred to as the "Zoning Ordinance" and the "County") as those Sections are in effect on November 14, 2007, copies of which are attached hereto. The residential development on the Property shall not exceed one - hundred ten (110) single family units. Of the one -hundred ten (I 10) single family dwelling units, seventy-six (76) single family dwelling units are in addition to, and not counted as part of, the eight hundred thirteen (813) units authorized in Glenmore PRD by ZMA 99-016; thirty-four (34) single family dwelling units are counted as part of the the eight hundred thirteen (813) units authorized in Glenmore PRD by ZMA 99-016. 2. In order to establish a future public greenway trail for the County along the Rivanna River, within one (1) year after the date of approval of ZMA 2006-1016, the Owner shall dedicate in fee simple to the County for public use no less than 43.45 acres in greenway area, as shown on Attachment A, entitled "Glenmore Greenway Trail, Final Exhibit," prepared by Roudabush, Gale, and Associates, Inc. and dated June 18, 2007 (the "Greenway Trail Area"). Such Greenway Trail Area may be increased as mutually agreed by the Owner and the County and includes the greenway area originally intended to be included in the greenway pursuant to proffer no. 6 of "ZMA 79-16" (such proffer correctly identified as proffer no. 6 of "ZMA 97-16) and the additional area comprising a minimum of 14.98 acres proffered pursuant to this ZMA 2006-016. A. Prior to dedication of the Greenway Trail Area to the County, no buildings shall be constructed, or erected within the Greenway Trail Area without the consent of the County and it shall be otherwise preserved in its natural state except for establishing pedestrian and riding trails and general beautification including, but not limited to, the clearing of underbrush, removal of dead trees and shrubs, and cleanup of the river. B. Prior to dedication of the Greenway Trail Area to the County, the Owner may grant across the Greenway Trail Area utility easements, access easements to the Rivanna River for residents of Glenmore and members and guests of the Glenmore Country Club and may build riding trails or make similar uses of the area, provided that such utility and access easements allow the County's use of the surface of the easement area to be used as a greenway, including the establishment of signs, benches and other accessory improvements, and do not otherwise interfere with the County's future use of the Greenway Trail Area as a greenway. C. The Owner shall convey the Greenway Trail Area by Deed of Gift and Easement Agreement. The Deed shall be accompanied by a subdivision plat depicting the Greenway Trail Area and bearing a notation that the Greenway Trail Area is dedicated for public use, subject to provisions and reservations contained within the Deed. If, at the time of dedication, the Greenway Trail Area is not dedicated by an accompanying subdivision plat, the Owner shall pay the costs of surveying the Greenway Trail Area, preparing the subdivision plat or other depiction thereof acceptable to the Director of Community Development and the County Attorney, and preparing and recording the Deed, and further provided that the Deed is in a form approved by the County Attorney. D. After dedication, the Greenway Trail Area shall continue to be counted as open space for the purposes of the Glenmore Master Plan and required density. 3. To offset public expenditure on Capital Improvement Projects, the Owner shall contribute sixteen -thousand five -hundred ninety dollars ($16,590) in cash for the purposes of funding transportation, public safety, school, parks and library improvements to offset public expenditure on Capital Improvement Projects. The per lot cash contribution shall be paid to Albemarle County prior to the issuance of a building permit for each lot. 4. To provide capital for Albemarle County's Affordable Housing Program, the Owner shall contribute two -thousand nine -hundred fifty-two dollars ($2,952) in cash for each dwelling lot on the Property to provide capital for Albemarle County's Affordable AA Housing Program. The per lot cash contribution shall be paid to Albemarle County prior to the issuance of a building permit for each lot. 5. Beginning January 1, 2008, the amount of cash contribution required by Proffer number 3 shall be adjusted ant- wally Lentil 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 Marshall & Swift ceases publication of the Index identified herein. In no event shall any cash contribution amount be adjusted to a sun. 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 impaid incremental payments shall be correspondingly adjusted each year. 6. in order to provide a higher level of Erosion and Sediment Control than is required by current State and Local regulation, the Owner shall adopt construction procedures and practices that limit the amount of disturbed area and provide enhanced protection for areas historically prone to erosion. These procedures and practices shall include: A. Limit construction activity such that not more than 30 acres of the proj ect is disturbed at any point in time. For the purposes of this proffer, disturbed areas will be determined by the Program Authority based on the active E&S plan with adjustments to include additional areas of disturbance and exclude areas where permanent stabilization has been installed. B. Utilize wire reinforced silt fence to control runoff from building construction. C. Utilize permanent seed and matting to stabilize all slopes steeper than 3H:IV. D. Modifications to the above may be granted by the Program Authority due to special circumstances during review of the E&S plan. -Signature Page Follows- 3 GLENMORE ASSOCIATES LIMITED PARTNERSHIP, a Virginia limited partnership BY: The Frank A. KesslertDaon of st dated November 18, 199 dneral Partner BY: (SEAL) Mich ssor Trustee FOW Pe2ay;f3:/-Kess1er, �iu�cessor 3 /0 COMMONWEALTH OF VIRGINIA Gam'/COUNTY OF iQQ}�m- aA- -c_ , to wit: .(SEAL) The foregoing instrument was acknowledged before me this 1 3 day of November, 2007, by Michael D. Comer, Successor Trustee under The Frank A. Kessler Declaration of Trust dated November 18, 1996, as amended, General Partner of Glenmore Associates Limited Partnership. My Commission Expires: 1 - a 01 C) My Notary Registration No.: a I COMMONWEALTH OF VIRGINIA -/COUNTY OF to wit: The foregoing instrument was acknowledged before me this 1:5 day of November, 2007, by Peggy B. Kessler, Successor Trustee under The Frank A. Kessler Declaration of Trust dated November 18, 1996, as amended, General Partner of Glenmore Associates Limited Partnership. . Notary Public My Commission Expires: My Notary Registration No.: t L4 5 � \4855492.2 IRENDA D. SHORT Notary Public commonwealth of VlrD201 s14U2 4 My Comminlon Eupins Jan PROFFER FORM Date: February 25, 2016 ZMA #: 2006-016 Original Proffer Amended Proffer X (Amendment # 1 Tax Map and Parcel Number(s) Tax Map 93A5 Parcels 1 and K2B-8 and Tax Map 94 Parcel 16. 86.23 Acres to be rezoned from PRD to PRD The Owner hereby voluntarily proffers that if the Albemarle County Board of Supervisors acts to rezone the Property from the RA to the PRD zoning district as requested, the Owner shall develop the Property in accord with the following proffered development conditions (each, a "Proffer," and collectively, the "Proffers"), which the Owner acknowledges are reasonable, pursuant to Section 15.2-2303 of the Code of Virginia, 1950, as amended, and pursuant to Section 33.3 of the Albemarle County Zoning Ordinance. If rezoning application ZMA 2006-015 is denied, these proffers shall immediately be null and void and of no force and effect. This Proffer Statement shall relate to the Application Plan entitled "Master Plan, Glenmore", dated November 2, 1990, and prepared by Clower Associates, Inc., the Application Plan entitled "Glenmore Planned Residential Development Application Plan for ZMA 99-016, dated April 12, 2000 and more specifically the plan entitled, "Glenmore Section K2", dated June 15, 2007, last revised August 8, 2007, and prepared by Roudabush, Gale, and Associates, Inc. The development of the Property shall be limited to those uses allowed by right under Section 19.3.1 (1), (5), (6), (7), (8), (9), (10) and (11) and those uses allowed by special use permit under Section 19.3.2(2), (4), (8), (9), (10) and (11) of the Zoning Ordinance of Albemarle County, Virginia (hereinafter referred to as the "Zoning Ordinance" and the "County") as those Sections are in effect on November 14, 2007, copies of which are attached hereto. The residential development on the portions of Tax Map 93 Parcels A5-1 and A5-K2B-8 and Tax Map 94 Parcel 16 subject to this rezoning shall not exceed seventy-six (76) single family units on seventy-six (76) lots. For the purpose of this proffer, if more than fifty percent (50%) of a lot's area is within the portions of Tax Map 93 Parcels A5-1 and A5-K2B-8 and Tax Map 94 Parcel 16, then the lot shall count towards the 76-unit cap. The seventy-six (76) single family dwelling units are in addition to, and not counted as part of, the eight hundred thirteen (813) units authorized in Glenmore PRD by ZMA 99-016 and the forty-three (43) units authorized within Tax Map Parcels 94-1 and 80-48 by ZMA 2006-015. Any lot that is not counted toward the seventy-six (76) single family units shall be counted toward the eight hundred thirteen (813) units authorized in Glenmore PRD by ZMA 99-016. 2. In order to establish a future public greenway trail for the County along the Rivanna River, within one (1) year after the date of approval of ZMA 2006-1016, the Owner shall dedicate in fee simple to the County for public use no less than 43.45 acres in greenway area, as shown on Attachment A, entitled "Glenmore Greenway Trail, Final Exhibit," prepared by Roudabush, Gale, and Associates, Inc. and dated June 18, 2007 (the "Greenway Trail Area"). Such Greenway Trail Area may be increased as mutually agreed by the Owner and the County and includes the greenway area originally intended to be included in the greenway pursuant to proffer no. 6 of "ZMA 79-16" (such proffer correctly identified as proffer no. 6 of "ZMA 97-16) and the additional area comprising a minimum of 14.98 acres proffered pursuant to this ZMA 2006-016. A. Prior to dedication of the Greenway Trail Area to the County, no buildings shall be constructed, or erected within the Greenway Trail Area without the consent of the County and it shall be otherwise preserved in its natural state except for establishing pedestrian and riding trails and general beautification including, but not limited to, the clearing of underbrush, removal of dead trees and shrubs, and cleanup of the river. B. Prior to dedication of the Greenway Trail Area to the County, the Owner may grant across the Greenway Trail Area utility easements, access easements to the Rivanna River for residents of Glenmore and members and guests of the Glenmore Country Club and may build riding trails or make similar uses of the area, provided that such utility and access easements allow the County's use of the surface of the easement area to be used as a greenway, including the establishment of signs, benches and other accessory improvements, and do not otherwise interfere with the County's future use of the Greenway Trail Area as a greenway- C. The Owner shall convey the Greenway Trail Area by Deed of Gift and Easement Agreement in substantially the form attached hereto as Exhibit A (the "Deed") provided, however, that the Owner and County may revise the Deed to complete missing information and agree to make non -material revisions that are consistent with this proffer and the existing Deed language_ The Deed shall be accompanied by a subdivision plat depicting the Greenway Trail Area and bearing a notation that the Greenway Trail Area is dedicated for public use, subject to provisions and reservations contained within the Deed. If, at the time of dedication, the Greenway Trail Area is not dedicated by an accompanying subdivision plat, the Owner shall pay the costs of surveying the Greenway Trail Area, preparing the subdivision plat or other depiction thereof acceptable to the Director of Community Development and the County Attorney, and preparing and recording the Deed. D. After dedication, the Greenway Trail Area shall continue to be counted as open space for the purposes of the Glenmore Master Plan and required density. 3. For each dwelling lot that has more than fifty percent (50%) of its area within the portions of Tax Map 93A5 Parcels 1 and K2B-8 and Tax Map 94 Parcel 16 subject to this rezoning, the Owner shall contribute four thousand nine hundred and eighteen dollars ($4,918) in cash for the purposes of funding transportation, public safety, school, parks and library improvements to offset public expenditure on Capital Improvement Projects. The per lot cash contribution shall be paid to Albemarle County prior to the issuance of a building permit for each lot. 4. For each dwelling lot that has more than fifty percent (50%) of its area within the portions of Tax Map 93 Parcels A5-1 and A5-K2B-8 and Tax Map 94 Parcel 16 subject to this rezoning, the Owner shall contribute two -thousand seven -hundred sixty-four dollars ($2,764) in cash for each dwelling lot on the Property to provide capital for Albemarle County's Affordable Housing Program. The per lot cash contribution shall be paid to Albemarle County prior to the issuance of a building permit for each lot. 5. Beginning January 1, 2018, the amount of cash contribution required by Proffer number 3 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 (aWa Marshall & Swift) (the "Index) or the most applicable Marshall & Swift index determined by the County if Marshall & Swift ceases publication of the Index identified herein. 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. OWNER By: Jess Achenbach Title: Manager, Red Dirt Developments, Manager of Glenmore Partners LLC Glenmore Partners LLC OWNER Title: SM Charlottesville, LLC