Sunday, October 12, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
SB46: Local housing rehabilitation zones; created.
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Title 36 a chapter numbered 1.5, consisting of a section numbered 36-55.64, as follows:
§ 36-55.64. Creation of local housing rehabilitation zones.
A. Any city, county, or town may establish, by ordinance, one or more housing rehabilitation zones for the purpose of providing incentives and regulatory flexibility in such zone.
B. The incentives provided in a housing rehabilitation zone may include, but not be limited to (i) reduction of permit fees, (ii) reduction of user fees, and (iii) waiver of tax liens to facilate the sale of property that will be substantially renovated, rehabilitated or replaced.
C. Incentives established pursuant to this section may extend for a period of up to 10 years from the date of initial establishment of the housing rehabilitation zone; however, the extent and duration of any incentive shall conform to the requirements of applicable federal and state law.
D. The regulatory flexibility provided in a housing rehabilitation zone may include, but not be limited to (i) special zoning for the district, (ii) the use of a special permit process, (iii) exemption from certain specified ordinances, and (iv) any other incentives adopted by ordinance, which shall be binding upon the locality for a period of up to 10 years.
E. The governing body may establish a service district for the provision of additional public services pursuant to Chapter 24 (§ 15.2-2400 et seq.) of Title 15.2.
F. Each locality establishing a housing rehabilitation zone pursuant to this section may also adopt a housing revitalization zone pursuant to Chapter 11 (§ 36-159 et seq.) of Title 36. Nothing in this chapter shall preclude such dual designation by the governing body.
G. Any housing rehabilitation zone established pursuant to this chapter shall be deemed to meet the requirements for designation of housing revitalization eligible to be financed as an economically mixed project pursuant to § 36-55.30:2.
Additional Data
Explanation
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Words that are highlighted in yellow are
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