2022 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Morrissey
Petersburg Blighted Property Loan Program

Item 115 #8s

Item 115 #8s

First Year - FY2023 Second Year - FY2024
Commerce and Trade
Department of Housing and Community Development FY2023 $3,000,000 FY2024 $0 GF

Page 97, line 53, strike "$138,480,442" and insert "$141,480,442".

Page 103, after line 4, insert:

"T. Out of the amounts in this Item, $3,000,000 the first year from the general fund shall be provided to the City of Petersburg to establish a Derelict Structures Removal or Rehabilitation Revolving Loan program for the purpose of making low-cost remediation or removal loans to owners of blighted properties in the City."


(This amendment provides $3.0 million GF in FY 2023 to the City of Petersburg for the creation of a loan program to incentivize property owners to remove or rehabilitate blighted properties.)