Menu
2025 Session

Budget Amendments - SB800 (Member Request)

View Budget Item
View Budget Item amendments

Chief Patron: Locke
Urban Public Private Partnership Redevelopment Fund

Item 103 #10s

Item 103 #10s

First Year - FY2025 Second Year - FY2026
Commerce and Trade
Department of Housing and Community Development FY2025 $0 FY2026 $15,200,000 GF

Language
Page 111, line 49, strike "$81,477,325" and insert "$96,677,325".

Page 121, after line 18, insert:

"AA.1. Out of the appropriation in this item, $15,200,000 the second year from the general fund is provided for the Urban Public Private Partnership Redevelopment Fund, as amended by the 2025 General Assembly Session.  In administering the fund, the department shall develop criteria for its use, including prioritizing grants to localities experiencing an above average or high level of fiscal stress as designated by the Commission on Local Government. The department shall submit a report, including the number of projects funded and the costs of the fund, to the Secretary of Commerce and Trade, the Governor, and the Chairs of the House Appropriations and the Senate  Finance and Appropriations Committee by December 1 of each year.

2. Of this amount, the department is authorized to use up to $200,000 to administer the fund."



Explanation

(This amendment provides $15.2 million GF the second year to capitalize the Urban Public Private Partnership Redevelopment Fund, as amended by legislation under consideration by the 2025 General Assembly Session. The Virginia Housing Commission recommended the legislation and funding.)