§ 15.2-7500. Definitions
As used in this chapter, unless the context requires a different meaning: “Act” means this chapter, the Land Bank Entities Act (§ 15.2-7500 et seq.). “Authority” means any political subdivision, a body politic and corporate, created, organized, and operated pursuant to the provisions of the Act. “Board of directors” or “board” means the board of […]
§ 15.2-7501. Creation of land bank entities by localities
A. Subject to a public hearing held pursuant to § 15.2-7502, a locality may by ordinance, or two or more localities may by concurrent ordinances, create a land bank entity as either an authority or a corporation, under an appropriate name and title, for the purpose of assisting the locality to address vacant, abandoned, and […]
§ 15.2-7502. Public hearing required prior to creation or designation of a land bank entity
The governing body of a locality shall not adopt an ordinance creating a land bank entity pursuant to § 15.2-7501 or designating a planning district commission or an existing nonprofit entity pursuant to § 15.2-7512 until notice of intention to do so has been published once a week for two successive weeks in some newspaper […]