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1994 SESSION
SB 229 Enterprise Zone Site Assembly and Clearance Fund.
Introduced by: Benjamin J. Lambert, III | all patrons ... notes | add to my profiles
SUMMARY:
Enterprise Zone Site Assembly and Clearance Fund. Creates a fund to provide a source of matching fund grants to assist Virginia's urban areas in retaining existing businesses and attracting new business enterprises through the "recycling" of vacant and obsolete industrial and commercial sites. The fund is dependent upon state appropriations for its effectiveness. Permissible uses of the fund include the following: (i) assembling parcels for usable business sites; (ii) demolishing and clearing of such sites, including environmental remediation; and (iii) constructing necessary infrastructure to support such reclaimed industrial and commercial sites.