Cash proffers; development rights.

Cash proffers; development rights. Providesthat cash payments proffered pursuant to § 15.2-2298, 15.2-2303,or 15.2-2303.1 may be used for the purpose of extinguishing developmentrights elsewhere in the locality if the development rights to beextinguished are greater than the development rights being grantedand the extinguishing of those development rights results in a perpetualconservation easement. The bill also provides that cash payments proffered may be used to seek matching funds from the Virginia Land Conservation Foundation and the Virginia Farmland Preservation Fund.