36-153 - Creation and management of Fund. - Virginia Statutes

§ 36-153. Creation and management of Fund.

There is hereby established in the state treasury a special nonrevertingpermanent fund to be known as the Virginia Removal or Rehabilitation ofDerelict Structures Fund. The Fund shall consist of sums appropriated to theFund by the General Assembly; sums which may be allocated to the Commonwealthfor this purpose by the United States government; all interest earned onmoneys in the Fund; and any other sums designated for deposit to the Fundfrom any source, public or private. The Fund is created to address theserious problem of derelict structures in the Commonwealth, particularly inurban areas. The Fund shall make grants to local governments for acquisition,demolition, removal, rehabilitation or repair of specific derelict structures.

The Fund shall be administered and managed by the Department as prescribed inthis chapter. The Department may disburse from the Fund reasonable costs andexpenses incurred in administration and management of the Fund.

(1999, c. 1018.)