Spot blight abatement; condemnation. (HB748)

Introduced By

Del. Bob Purkey (R-Virginia Beach)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Spot blight abatement; eminent domain. Provides that for purposes of determining just compensation for property condemned pursuant to spot blight abatement provisions, the value of the property condemned shall be determined as follows: (i) 50% of compensation to be based on the fair market value of the property at the time of condemnation, (ii) 25% of compensation to be based on projected fair market value of the land one year after completion of the redevelopment project, and (iii) 25% of compensation to be based on projected value of the land three years after completion of the redevelopment project. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/10/2006Prefiled and ordered printed; offered 01/11/06 063688472
01/10/2006Referred to Committee on General Laws
01/18/2006Assigned to General Laws sub-committee: #1 Housing (Suit)
02/09/2006Incorporated by General Laws (HB699-Suit)