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2003 SESSION

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VIRGINIA ACTS OF ASSEMBLY -- CHAPTER An Act to amend and reenact § 15.2-5153 of the Code of Virginia, relating to community development authorities. [H 2642] Approved

Be it enacted by the General Assembly of Virginia:

1. That § 15.2-5153 of the Code of Virginia is amended and reenacted as follows:

§ 15.2-5153. Landowners may petition localities.

The owners of at least fifty-one 51 percent of the land area or assessed value of land in the following tracts may, by petitioning the locality or localities in which the tract is located, propose the creation of a community development authority:

1. Any tract of any size in any city;

2. Any tract of any size in any town which has elected to consider such petitions pursuant to subsection B of § 15.2-5152;

3. Any tract containing at least 250 acres in any county with a population of at least 75,000;

4. Any tract containing at least 3000 250 acres, a portion of which lies within two miles of the centerline of the right-of-way of an interstate highway, in any county with a population of less than 50,000;

5. Any tract containing at least 250 acres in any county with a population between 50,000 and 75,000 through which an interstate highway passes; and

6. Any tract of any size in any county not listed in subdivisions 3, 4 or 5 of this section.

However, in the counties listed in subdivisions 3, 4 and 5 of this section, the minimum acreage required for a proposed authority district shall be 100 acres for commercial property or for mixed use commercial-zoned and residential-zoned property. Counties over 50,000 in population may modify minimum district size limits where amounts financed equal or exceed three $3 million dollars.