56-566.1 - Interim agreement. - Virginia Statutes

§ 56-566.1. Interim agreement.

A. Prior to or in connection with the negotiation of the comprehensiveagreement, the responsible public entity may enter into an interim agreementwith the private entity proposing the development and/or operation of thefacility or facilities. Such interim agreement may (i) permit the privateentity to commence activities for which it may be compensated relating to theproposed qualifying transportation facility, including project planning anddevelopment, advance right-of-way acquisition, design and engineering,environmental analysis and mitigation, survey, conducting transportation andrevenue studies, and ascertaining the availability of financing for theproposed facility or facilities; (ii) establish the process and timing of thenegotiation of the comprehensive agreement; and (iii) contain any otherprovisions related to any aspect of the development and/or operation of aqualifying transportation facility that the parties may deem appropriate.

B. Notwithstanding anything to the contrary in this chapter, a responsiblepublic entity may enter in to an interim agreement with multiple privateentities if the responsible public entity determines in writing that it is inthe public interest to do so.

(2005, cc. 504, 562.)