Urban Public-Private Partnership Redevelopment grant program; Board of HCD to review, etc.

Board of Housing and Community Development; administration of Urban Public-Private Partnership Redevelopment grant program; report. Directs the Board of Housing and Community Development to review and develop criteria and guidelines for the administration of the Urban Public-Private Partnership Redevelopment grant program in consultation with the Virginia Association of Counties, the Virginia First Cities Coalition, the Virginia Municipal League, and the Virginia Economic Developers Association. The bill requires such criteria to include (i) award prioritization for (a) localities experiencing an above average and high level of fiscal stress as designated by the Commission on Local Government in its most recent Report on Comparative Revenue Capacity, Revenue Effort, and Fiscal Stress of Virginia's Cities and Counties and (b) localities experiencing a significant decrease in commercial real estate assessments and (ii) the amount and type of local matches with consideration of both monetary and non-monetary contribution requirements. The bill requires the chair of the Board to report the Board's findings to the Chairs of the Senate Committee on Finance and Appropriations, the Senate Committee on General Laws and Technology, the House Committee on Appropriations, and the House Committee on General Laws no later than November 1, 2026.

Status

Passed

Signed or otherwise enacted

Status date

Apr 22, 2026

204 days ago

Current chamber

Senate

Session

2026 Regular Session