62.1-229.3 - Loans for land conservation. - Virginia Statutes

§ 62.1-229.3. Loans for land conservation.

Loans may be made from the Fund, in the Board's discretion, to a localgovernment or a holder as defined in § 10.1-1009 for acquiring fee simpletitle to or a permanent conservation or open-space easement in real propertyupon the local government or holder establishing to the satisfaction of theBoard that the acquisition will (i) protect or improve water quality andprevent the pollution of state waters, and (ii) protect the natural oropen-space values of the property or assure its availability foragricultural, forestal, recreational, or open-space use. The Board shallconsult with the Department of Conservation and Recreation in making adetermination on whether the acquisition will meet the above requirements.Unless otherwise required by law, loans for land acquisition may be made onlyin fiscal years in which all loan requests from local governments foreligible projects as defined in § 62.1-224 have first been satisfied. TheBoard shall develop guidelines for the administration of such loans.

(2003, c. 574; 2010, c. 644.)