§ 59.1-548. Enterprise zone real property investment grants
A. As used in this section: “Facility” means a complex of buildings, co-located at a single physical location within an enterprise zone, all of which are necessary to facilitate the conduct of the same trade or business. This definition applies to new construction as well as to the rehabilitation and expansion of existing structures. “Mixed […]
§ 59.1-549. Policies and procedures for allocation of enterprise zone incentive grants
A. Qualified business firms and qualified zone investors shall be eligible to receive enterprise zone incentive grants provided for in this chapter to the extent that they apply for and are approved for grant allocations through the Department. B. If the sum of (i) the total amount of grants for which qualified business firms are […]
§ 59.1-544. Amendment of enterprise zones; redesignation of certain joint enterprise zones
A. Once an enterprise zone has been designated, the local government may make written application to the Department to amend the zone boundaries in accordance with the requirements of § 59.1-542. Such boundary amendments are subject to Department approval. Any amendment to an enterprise zone that includes the elimination of an area or areas from […]
§ 59.1-545. Application review
A. After announcement of a periodic zone designation application process, the Department shall review each application upon receipt and secure any additional information that it deems necessary for the purpose of evaluating the need and potential impact of a zone designation. B. The Department shall complete review of the applications within 60 days of the […]
§ 59.1-546. Review and termination of enterprise zones
A. If the local governing body is unable or unwilling to provide the specified local incentives as proposed in its application for zone designation or as approved by the Department in an amendment, the zone designation shall terminate. Qualified business firms located in such enterprise zone shall be eligible to receive the incentives provided by […]
§ 59.1-547. Enterprise zone job creation grants
A. As used in this section: “Base year” means either of the two calendar years immediately preceding a qualified business firm’s first year of grant eligibility, at the choice of the business firm. “Federal minimum wage” means the minimum wage standard as currently defined by the United States Department of Labor in the Fair Labor […]
§ 59.1-539. Definitions
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. “Enterprise zone” means an area declared by the Governor to be eligible for the benefits of this chapter. “Local zone administrator” means the chief executive […]
§ 59.1-540. Administration
The Department shall administer this chapter and shall have the following powers and duties: 1. To establish the criteria for determining what areas qualify as enterprise zones. Such criteria shall include, but not be limited to, the distress criteria specified in § 59.1-545; 2. To monitor the implementation and operation of this chapter; 3. To […]
§ 59.1-541. Rules and regulations
Rules and regulations prescribing procedures implementing the purpose of this chapter shall be promulgated by the Board in accordance with the Administrative Process Act. 2005, cc. 863, 884.
§ 59.1-542. Enterprise zone designation
A. Upon the Department’s announcement of periodic zone designation competitions, the governing body of any county or city may make written application to the Department to have an area or areas declared an enterprise zone. Such application shall include a description of the area or areas to be included, the development potential of these areas, […]