Officials in Isle of Wight are concerned about a lack of business and residential growth, and the  the county is taking another look at its proffer system.

Proffers are agreements between developers and local governments meant to lower the burden of new developments on government resources, such as the need to build a new school or roads. Under the county's voluntary proffer system implemented in 2003, developers looking to have land rezoned for a project could offer cash, land, or other incentives to the county as part of their application. The encouraged cash proffer amount is about $11,000 per single-family housing unit.

The cost may be inhibiting development, thus stifling growth and causing the local real estate market to stagnate.

Read more at the Daily Press....