2009 Session

Budget Amendments - HB1600 (Member Request)

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Chief Patron: Hamilton
FMFADA Funding

Item 110 #2h

Item 110 #2h

First Year - FY2009 Second Year - FY2010
Commerce And Trade
Housing and Community Development, Department of FY2009 $0 FY2010 $1,556,934 GF

Page 107, line 11, strike "$59,771,885" and insert "$61,328,819".
Page 110, line 37, strike "1,556,934" and insert "$3,113,868."
Page 110, line 49, strike "50 percent" and insert "full funding".

(This amendment increases the second year funding for the Fort Monroe Federal Area Development Authority (FMFADA) by $1.5 million to fully fund the estimated operating expenses of the Authority. These operating funds will help ensure that the Reuse Plan adopted in August 2008 is ready for implementation when the base reverts to the Commonwealth in September 2011. It is anticipated that federal funding requested by the Authority will stimulate more than $400 million in private capital in the first decade after the Army vacates the facility. The General Assembly created the FMFADA by legislation in 2007.)