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2012 SESSION
Be it enacted by the General Assembly of Virginia:
1. That § 15.2-1802 of the Code of Virginia is amended and reenacted as follows:
§ 15.2-1802. Authority of towns to acquire, lease or sell land for development of business and industry.
A town city or county may acquire pursuant
to § 15.2-1800 by contract, with such
consideration as is agreed to by the parties, but not by condemnation, land
within its boundaries or within three miles outside
its boundaries, for the development thereon of business and
industry. A town may acquire pursuant to § 15.2-1800, but not by
condemnation, land within its boundaries or within three miles outside its
boundaries, for the development thereon of business and industry. No such
land shall be acquired until the governing body has held a public hearing
concerning such proposed acquisition. Any land so acquired may be leased or
sold at public or private sale to any person, firm or corporation who will
locate thereon any business or manufacturing establishment. This section shall
constitute the authority for any town to exercise the powers herein conferred
notwithstanding any charter provision to the contrary.
If any land so acquired, or any part thereof, is not sold to a person, firm or corporation who will locate thereon any business or manufacturing establishment, and such land is, in the discretion of the governing body, not required for the development thereon of business and industry, the governing body, if deemed proper by it, may dispose of the land so acquired, in whole or in part, making such limitations as to the uses thereof as it may see fit. No such land shall be disposed of until the governing body has held a public hearing concerning such proposed disposal.