2015 Session

Budget Amendments - HB1400 (Member Request)

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Chief Patron: Preston
Petersburg Gateway Redevelopment

Item 104 #1h

Item 104 #1h

First Year - FY2015 Second Year - FY2016
Commerce and Trade
Housing and Community Development, Department of FY2015 $0 FY2016 $3,500,000 GF

Page 89, line 47, strike "$40,425,438" and insert "$43,925,438".
Page 91, line 36, strike the second "$2,000,000" and insert "$5,500,000".
Page 91, line 38, after "revitalization." insert:
"Out of the amounts in this item, $3,500,000 the second year from the general fund shall be deposited to the Virginia Removal or Rehabilitation of Derelict Structures Fund to support industrial site revitalization in Petersburg at its main interstate entranceway."

(This amendment provides $3.5 million from the general fund in fiscal year 2016 for blight removal to revitalize Petersburg's main interstate entranceway. Petersburg is located at the crossroads of I-95, I-85, Route 1, and Route 460. The exit 52 (southbound 95) and exit 68 (northbound I-95/85) area is in need of a complete revitalization effort. Old hotels have been vacant for years and are now blighted properties. The City has enforced all laws available to force owners to repair or remove these blighted and dangerous structures. The only option remaining is for the City to purchase the properties and take down the blighted structures.)