15.2-6011 - Eligible use of funds. - Virginia Statutes

§ 15.2-6011. Eligible use of funds.

The Authority is hereby empowered to pledge its funds, and make loans andgrants to or for the benefit of for-profit enterprises or entities;governmental or corporate instrumentalities in the coalfield region ofVirginia (including any political subdivision of the Commonwealth and theBreaks Interstate Park); not-for-profit enterprises or entities; nonprofitindustrial development corporations; economic development authorities; orindustrial development authorities for financing the following:

1. Purchase of real estate;

2. Grading of site(s);

3. Construction of flood control dams;

4. Water, sewer, natural gas and electrical line replacement and extensions;

5. Construction or rehabilitation or expansion of buildings;

6. Construction of parking facilities;

7. Access roads construction and street improvements;

8. Purchase, lease, or relocation of machinery, tools, equipment, furniture,software, or other personal property;

9. Construction of improvements outside the Commonwealth if in the BreaksInterstate Park;

10. Feasibility studies, site studies, preliminary engineering orarchitectural reports, and other studies and plans;

11. Such other improvements, projects, activities, or purposes as theAuthority deems necessary to accomplish its purpose; and

12. Costs and expenses associated with any item listed in subdivisions 1through 11, including, but not limited to, architectural, engineering,consulting, legal, closing, installation, delivery, and assembly expenses.

(1988, c. 833, § 15.1-1646; 1990, c. 341; 1992, c. 32; 1993, c. 771; 1994,cc. 615, 674; 1997, c. 587; 2004, cc. 36, 177.)