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1999 SESSION

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HB 2577 Removal or Rehabilitation of Derelict Structures Fund.

Introduced by: Viola D. Baskerville | all patrons    ...    notes | add to my profiles | history

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION:

Virginia Removal or Rehabilitation of Derelict Structures Fund. Creates a fund to make grants to localities for acquisition, demolition, removal, rehabilitation or repair of derelict structures which are causing a blight upon the neighborhoods in which they are located. Each grant is limited to $200,000 and requires a 100 percent local match. The Fund shall be administered by the Board of Housing and Community Development.

SUMMARY AS PASSED:

Virginia Removal or Rehabilitation of Derelict Structures Fund. Creates a fund to make grants to localities for acquisition, demolition, removal, rehabilitation or repair of derelict structures which are causing a blight upon the neighborhoods in which they are located. Each grant is limited to $200,000 and requires a 100 percent local match. The Fund shall be administered by the Board of Housing and Community Development.

SUMMARY AS PASSED HOUSE:

Virginia Removal or Rehabilitation of Derelict Structures Fund. Creates a fund, similar to the existing Virginia Housing Partnership Revolving Fund, to make loans to localities for acquisition, demolition, removal, rehabilitation or repair of derelict structures which are causing a blight upon the neighborhoods in which they are located. The loans shall be at no interest and shall not exceed 36 months. The Fund shall be administered by the Board of Housing and Community Development and shall consist of sums appropriated to the Fund by the General Assembly and from other sources.

SUMMARY AS INTRODUCED:

Virginia Removal or Rehabilitation of Derelict Structures Fund. Creates a fund, similar to the existing Virginia Housing Partnership Revolving Fund, to make loans to localities for acquisition, demolition, removal, rehabilitation or repair of derelict structures which are causing a blight upon the neighborhoods in which they are located. The loans shall be at no interest and shall not exceed 36 months. The Fund shall be administered by the Board of Housing and Community Development and shall consist of sums appropriated to the Fund by the General Assembly and from other sources.