36-167 - Housing Revitalization Zone Fund established. - Virginia Statutes

§ 36-167. Housing Revitalization Zone Fund established.

There shall be set apart as a permanent and perpetual fund, known as the"Housing Revitalization Zone Fund," sums appropriated to the Fund by theGeneral Assembly, all income from investments of moneys held in the Fund, andany other sums designated for deposit to the Fund from any source, public orprivate. The Fund is created for the purpose of making grant payments toqualified business firms and qualified owner occupants. The Fund shall beadministered and managed by the Virginia Housing Development Authority,subject to the right of the Department to direct the distribution of grantsfrom the Fund for the payment of grants awarded by the Department toqualified business firms and qualified owner occupants.

(2000, cc. 789, 795.)