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Thursday, January 20, 2005
On this day:

WP: Va. Gen. Assembly Considers Ban on "Upfront" Proffers

The way the WP spins it, developers argue that "upfront" proffers are unfair to builders because they lack the cash flow to pay until they sell the house (Is financing really not available? Developers must obtain it somehow to pay laborers, suppliers, etc.) while Prince William County claims that an "upfront" proffer permits the county to get a head start on building roads (Again, is financing not available to the county? Probably at a lower cost than to the developer?) before the new residents move in.

I have to be missing something here. Comments enabled.


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