2014 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: James
Brownfield Restoration Fund

Item 120 #1h

Item 120 #1h

First Year - FY2015 Second Year - FY2016
Commerce and Trade
Virginia Economic Development Partnership FY2015 $1,000,000 FY2016 $0 GF

Page 93, line 2, strike "$20,187,705" and insert "$21,187,705".
Page 94, after line 32, insert:
"Q.  Out of this appropriation, $1,000,000 the first year from the general fund shall be provided to the Brownfield Restoration and Economic Redevelopment Fund to be utilized pursuant to § 10.1-1237, Code of Virginia."

(This amendment provides funding for the Brownfield Restoration Fund, which last received funding in fiscal year 2012. The $1.0 million provided in fiscal year 2012 was used to jump start 22 redevelopment projects across the state. There is strong interest by developers in additional monies to leverage new brownfield cleanup projects. A companion amendment to Item 101 makes a like reduction to the funding provided for the Governor's Development Opportunity Fund to offset the spending.)