15.2-1129.2 - Creation of local economic revitalization zones. - Virginia Statutes

§ 15.2-1129.2. Creation of local economic revitalization zones.

A. Any city may establish by ordinance one or more economic revitalizationzones for the purpose of providing incentives to private entities to purchasereal property and interests in real property to assemble parcels suitable foreconomic development. Each city establishing an economic revitalization zonemay grant incentives and provide regulatory flexibility. Such zones shall bereasonably compact, shall not encompass the entire city, and shall constituteone or more tax parcels not commonly owned. Properties that are acquiredthrough the use of eminent domain shall not be eligible for the incentivesand regulatory flexibility provided by the ordinance.

B. The incentives may include, but not be limited to: (i) reduction of permitfees, (ii) reduction of user fees, (iii) reduction of any type of grossreceipts tax, and (iv) waiver of tax liens to facilitate the sale of property.

C. Incentives established pursuant to this section may extend for a period ofup to 10 years from the date of initial establishment of the economicrevitalization zone; however, the extent and duration of any incentive shallconform to the requirements of applicable federal and state law.

D. The regulatory flexibility provided in an economic revitalization zone mayinclude (i) special zoning for the district, (ii) the use of a special permitprocess, (iii) exemption from certain specified ordinances, excludingordinances or provisions of ordinances adopted pursuant to the requirementsof the Chesapeake Bay Preservation Act (§ 10.1-2100 et seq.), the Erosion andSediment Control Law (§ 10.1-560 et seq.), and the Virginia StormwaterManagement Act (§ 10.1-603.1 et seq.), and (iv) any other incentives adoptedby ordinance, which shall be binding upon the locality for a period of up to10 years.

E. The governing body may establish a service district for the provision ofadditional public services pursuant to Chapter 24 (§ 15.2-2400 et seq.) ofTitle 15.2.

F. This section shall not authorize any local government powers that are notexpressly granted herein.

G. Prior to adopting or amending any ordinance pursuant to this section, alocality shall provide for notice and public hearing in accordance withsubsection A of § 15.2-2204.

(2007, c. 262.)