As used in this chapter, unless the context requires a different meaning: “Board” means the Board of Housing and Community Development. “Department” means the Department of Housing and Community Development. “Derelict structures” means residential, commercial or industrial structures which are no longer being used for a place of habitation, business or industry and which are […]
There is hereby established in the state treasury a special nonreverting permanent fund to be known as the Virginia Removal or Rehabilitation of Derelict Structures Fund. The Fund shall consist of sums appropriated to the Fund by the General Assembly; sums which may be allocated to the Commonwealth for this purpose by the United States […]
The Auditor of Public Accounts or his legally authorized representatives shall audit the accounts of the Fund in accordance with generally accepted auditing standards as determined necessary by the Auditor of Public Accounts, and the cost of such audit services shall be borne by the Fund. 1999, c. 1018; 2018, cc. 57, 307.
Except as otherwise provided in this chapter, money in the Fund shall be used to make grants to local governments to finance the acquisition, removal, rehabilitation, repair or demolition of derelict structures. No grant shall exceed $1,000,000. Each grant shall be conditioned upon a 100 percent match of funds by the local government. The Board […]
On or before September 30 of each year, each local government recipient shall report to the Department on the status of the properties acquired by the locality with the grant. 1999, c. 1018; 2004, c. 577.
