HB 233

Abstract

Virginia Economic Development Partnership Authority; eligible site for site development grant; minimum acreage requirement. Provides that the Virginia Economic Development Partnership Authority may determine a site of at least 50 contiguous acres to be an eligible site if such site meets certain criteria provided in the bill to receive a site development grant from the Virginia Business Ready Sites Program Fund. This bill is identical to SB 135.

Virginia Economic Development Partnership Authority; eligible site for site development grant; minimum acreage requirement. Allows the Virginia Economic Development Partnership Authority to determine a site of at least 50 but less than 100 acres to be eligible to receive a site development grant from the Virginia Business Ready Sites Program Fund. The reduced acreage requirement shall apply only to sites which (i) are located in GO Virginia regions 1 or 2, (ii) are located in a locality or region in which topographic or environmental factors constrain the availability of viable sites for economic development, (iii) present a unique economic development opportunity based on infrastructure, logistics, or other distinguishable features of the site, or (iv) create an economic development opportunity not currently available in the regional inventory of economic development sites. by the Virginia Economic Development Partnership Authority.

Virginia Economic Development Partnership Authority; eligible site for site development grant; minimum acreage requirement.Reduces from 100 acres to 50 acres the minimum number of contiguousacres required for a site that is not a brownfield to satisfy theacreage requirement to be considered eligible to receive a site developmentgrant from the Virginia Business Ready Sites Program Fund by theVirginia Economic Development Partnership Authority. The bill alsoexempts from the minimum acreage requirement any site that existsin a locality that has three or fewer eligible sites that are atleast 100 acres.