56-564 - Dedication of public property. - Virginia Statutes

§ 56-564. Dedication of public property.

Any public entity may dedicate any property interest that it has for publicuse as a qualified transportation facility if it finds that so doing willserve the public purpose of this chapter. In connection with such dedication,a public entity may convey any property interest that it has, subject to theconditions imposed by general law governing such conveyances, to the privateentity, subject to the provisions of this chapter, for such consideration assuch public entity may determine. The aforementioned consideration mayinclude, without limitation, the agreement of the private entity to developand/or operate the qualifying transportation facility. The property intereststhat the public entity may convey to the private entity in connection with adedication under this section may include licenses, franchises, easements,concessions, or any other right or interest the public entity deemsappropriate. Such property interest including, but not limited to, aleasehold interest in and/or rights to use real property constituting aqualifying transportation facility shall be considered property indirectlyowned by a government if described in § 58.1-3606.1.

(1994, c. 855; 1995, c. 647; 2005, cc. 504, 562; 2006, c. 922.)