2014 Session

Budget Amendments - HB30 (Committee Approved)

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Local Match for Derelict Structures (language only)

Item 104 #1h

Item 104 #1h

Commerce and Trade
Housing and Community Development, Department of

Page 86, after line 50, insert:
"M. Notwithstanding the provisions of § 36.1-152, Code of Virginia, the local match requirement for the Industrial Revitalization Fund Program shall not be restricted to monies spent by localities on or after July 1, 2010.  Instead, expenditures by a local government within the previous 10 years on the rehabilitation of targeted projects shall be counted as eligible matching funds."

(This amendment would allow $300,000 of expenditures made by the City of Petersburg to stabilize its Farmer's Market prior to July 1, 2010, to be considered an eligible match for any state grants that would have contributed to further revitalization of the Farmer's Market.)