2019 Session

Budget Amendments - HB1700 (Conference Report)

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Virginia Economic Development Partnership

Item 122 #1c

Item 122 #1c

First Year - FY2019 Second Year - FY2020
Commerce and Trade
Virginia Economic Development Partnership FY2019 ($18,000,000) FY2020 $0 GF

Page 115, line 16, strike "$51,597,198" and insert "$33,597,198".

Page 117, after line 12, insert:

"S. Out of the amounts in this item, $1,000,000 in the first year and $1,000,000 in the second year from the general fund is provided for the development of a site and building assessment and development program to identify, assess and develop the Commonwealth's industrial sites.  Notwithstanding § 2.2-2238, the Virginia Economic Development Partnership may include sites of at least 25 acres in developing such a program and shall establish assessment guidelines and procedures for identification of industrial sites, resource requirements, and development oversight. The Authority shall invite participation by regional and industry stakeholders to assess potential sites, identify product shortfalls, and make recommendations to the Governor and General Assembly for marketing such sites, in alignment with the goals outlined in the Governor's economic development plan and other economic development initiatives. Up to $2,000,000 may be utilized for characterization of publicly or privately-owned sites. No public funds associated with this program may be utilized to develop any sites owned exclusively by private interests unless such private interests contractually commit to refund the Commonwealth for its investment at the time the property is sold or leased for an eligible or ineligible use."


(This amendment increases funds $1,000,000 in the first year and $1,000,000 in the second year from the general fund for the Virginia Economic Development Partnership business-ready sites program in order to assess, characterize and develop potential industry sites owned partially or entirely by the Commonwealth, its political subdivisions, or public bodies corporate and politic or its local governments.)