2006 Session

Budget Amendments - SB30 (Committee Approved)

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Brownfields Restoration

Item 364 #8s

Item 364 #8s

First Year - FY2007 Second Year - FY2008
Natural Resources
Environmental Quality, Department of FY2007 $1,300,000 FY2008 $0 NGF

Page 319, line 30, strike "$296,793,413" and insert "$298,093,413".
Page 324, after line 21, insert:
"F.  Out of the amounts appropriated for Environmental Financial Assistance, $1,300,000 the first year from interest earned on the point source portion of the Water Quality Improvement Fund shall be deposited to the Virginia Brownfields Restoration and Economic Redevelopment Assistance Fund."

(This amendment provides $1.3 million NGF to address redevelopment of properties considered to be too environmentally unsound to warrant investment. Since 2003, DEQ has worked on 63 redevelopment projects through its Brownfields Program, resulting in over $500 million in new investments for commercial, retail and residential properties and over 1400 full-time jobs created. The revenue source is interest earned on Water Quality Improvement Funds.)