Cash Proffers

A state lawmaker is raising concern about a common practice in Virginia’s property development and mortgage industries, which he believes needs reviewing due to the current slump in those sectors.  Cash proffers are a voluntary monetary commitment offered by developers to help offset rising infrastructure costs—and they provide local governments with additional revenue streams.  But as Virginia Public Radio’s Tommie McNeil reports, the Senator believes some localities may be getting an extra benefit at the cost of struggling consumers.

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