33.1-90.2 - Same; reconveyance where property deemed suitable for mass transit purposes. - Virginia Statutes

§ 33.1-90.2. Same; reconveyance where property deemed suitable for masstransit purposes.

In the event any real property which, under the provisions of § 33.1-90, isor may become eligible for reconveyance and is deemed suitable for the masstransit purposes of a public agency, authority, instrumentality or publicservice corporation or company, and such entity has submitted tentative plansto the Commissioner for a mass transit facility utilizing such real property,or portions thereof, and, prior to the eligibility of that real property forreconveyance under § 33.1-90 et seq., the Commissioner has approved the useof such real property for mass transit purposes, such real estate shall notbe eligible for reconveyance under those sections. Upon the formulation offinal plans for the facility, the Commissioner is authorized to enter into anagreement with any of the above-described entities for the conveyance of theproperty to such entity. Any property or portions thereof not necessary forthe mass transit facility shall become eligible for reconveyance under theprovisions of § 33.1-90 upon a determination of the final plans for thefacility. Such agreement shall provide for the payment to the Commonwealth ofan amount equal to that expended by the Commonwealth in the acquisition ofsuch real property including proportionate administrative costs and costsunder the Uniform Relocation and Real Property Acquisition Act. Upon paymentof the agreed consideration, the Commissioner shall convey the specifiedproperty to the facility. However, if construction of such plannedfacilities is not commenced within ten years from the date of the agreementbetween the transit agency and the Commissioner, the persons who wouldotherwise have been authorized to petition for reconveyance under § 33.1-90or their heirs or assigns may seek reconveyance under the same procedures andon the same basis as established in § 33.1-90.

This section shall not compel the Commissioner to convey any such property tosuch entities in contravention of any federal law or regulation affecting thedisposition of real property acquired for highway purposes when such propertyis no longer needed for such purposes when such property has been acquiredwith federal funding participation.

(1976, c. 724; 1992, c. 108.)