36-168 - Local incentives. - Virginia Statutes

§ 36-168. Local incentives.

A. In making an application for designation as a housing revitalization zone,the applying locality or localities may propose local tax incentives,including, but not limited to: (i) reduction of permit fees; (ii) reductionof user fees; (iii) partial exemption from taxation of substantiallyrehabilitated real estate pursuant to § 58.1-3221; and (iv) use of publicfunds to improve living conditions in housing revitalization zones such ascode enforcement, public safety, and infrastructure improvements. The extentand duration of such incentive proposals shall conform to the requirements ofthe Constitution of Virginia and the Constitution of the United States. Inmaking application for designation as a housing revitalization zone, suchapplication may also contain proposals for regulatory flexibility, including,but not limited to: (i) special zoning districts; (ii) permit process reform;(iii) exemptions from local ordinances as permitted under the Constitution ofVirginia and the Code of Virginia; and (iv) other public incentives proposedin the locality's application, which shall be binding upon the locality upondesignation of the housing revitalization zone.

B. A locality may establish eligibility criteria for local incentives forqualified business firms and qualified owner occupants that are the same as,or more stringent than, the criteria for eligibility for grants or otherbenefits provided by this chapter.

(2000, cc. 789, 795.)