§31-21-8. Underwriting
The enrollment and acceptance process to participate in the land stewardship program shall be developed to include an underwriting review that focuses on: (1) The nature and extent of contamination; (2) the selected remedy; (3) the type of services selected and duration thereof; and (4) the financial costs and risks associated with fulfilling the services.
§31-21-9. State Certified Sites Program
§31-21-9. State certified sites program. (a) This article hereby authorizes the establishment of a statewide certified sites program. The program shall consist of the development and preparation of certain site specific decision ready documentation or reports that will enable the expedited property transaction for sites that participate in the certified sites program. (b) The objectives […]
§31-21-10. Minimum Standards for Certified Sites
(a) The corporation shall establish minimum standards that a site must meet to be considered for certification. Minimum standards include, but are not limited to: (1) Letter of support from a mayor, county commissioner, or county, regional, or municipal economic development official;
§31-21-11. Land Bank Program
(a) This article hereby authorizes the establishment of a voluntary state land bank program. Under this program, the corporation is authorized to acquire properties, hold title and prepare them for future use. Prior to acquiring any properties, the corporation shall conduct site appropriate assessments to determine the environmental conditions or issues associated with a particular […]
§31-21-12. Preserve Property Value
(a) The corporation may, without the approval of a local unit of government in which property held by the corporation is located, control, hold, manage, maintain, operate, repair, lease as lessor, secure, prevent the waste or deterioration of, demolish and take all other actions necessary to preserve the value of the property held or owned […]
§31-20-18. Investment in Notes, Security Interests and Bonds
The notes, security interests and bonds of the authority are hereby made securities in which the state Board of Investments, all insurance companies and associations and other persons carrying on an insurance business, all banking institutions, trust companies, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking […]
§31-20-19. Tax Exemption
The exercise of the powers granted to the authority by this article will be in all respects for the benefit of the people of the state for the improvement of their safety, convenience and welfare. Since the operation and maintenance of correctional facilities and correctional facility industries projects will constitute the performance of essential governmental […]
§31-20-21. Validity of Any Pledge, Mortgage, Deed of Trust or Security Instrument
It is the intention hereof that any pledge, mortgage, deed of trust or security instrument made by or for the benefit of the authority shall be valid and binding between the parties from the time the pledge, mortgage, deed of trust or security instrument is made; and that the moneys or property so pledged, encumbered, […]
§31-20-26. Legislative Oversight Committee
The President of the Senate and the Speaker of the House of Delegates shall each designate five members of their respective houses, at least one of whom shall be a member of the minority party, to serve on a Legislative Oversight committee charged with immediate and ongoing oversight of the authority and the commissions, and […]
§31-21-1. Short Title
OF ARTICLE AND DEFINITIONS. §31-21-1. Short title. This article shall be known and may be cited as The West Virginia Land Stewardship Corporation Act.