56-575.7 - Dedication of public property. - Virginia Statutes

§ 56-575.7. Dedication of public property.

Any public entity may dedicate any property interest, including land,improvements, and tangible personal property, that it has for public use in aqualifying project if it finds that so doing will serve the public purpose ofthis chapter by minimizing the cost of a qualifying project to the publicentity or reducing the delivery time of a qualifying project. In connectionwith such dedication, a public entity may convey any property interest thatit has, subject to the conditions imposed by general law governing suchconveyances, to the private entity subject to the provisions of this chapter,for such consideration as such public entity may determine. Theaforementioned consideration may include, without limitation, the agreementof the private entity to develop or operate the qualifying project. Theproperty interests that the public entity may convey to the private entity inconnection with a dedication under this section may include licenses,franchises, easements, or any other right or interest the public entity deemsappropriate.

(2002, c. 571; 2005, c. 865.)