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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>84105</law_id><section_number>2.2-2763</section_number><catch_line>Objective of the Program</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>2.2-2761</reference><reference>2.2-2764</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="2.2">Administration of Government</unit><unit label="subtitle" level="2" order_by="1" identifier="I">Organization of State Government</unit><unit label="part" level="3" order_by="1" identifier="D">State Authorities, Boards, Commissions, Councils, Foundations and Other Collegial Bodies</unit><unit label="chapter" level="4" order_by="1" identifier="27.2">Virginia Business Ready Sites Acquisition Fund and Program</unit></structure><text>
						<section><p>The objective of the <span class="dictionary">Program</span> shall be to identify and fill gaps in the Commonwealth&#x2019;s current portfolio of industrial properties available for <span class="dictionary">large-scale economic development projects</span> in <span class="dictionary">order</span> to accelerate economic growth in all <span class="dictionary">regions</span> of the Commonwealth. In evaluating sites to acquire, option, develop, or market for purposes of the <span class="dictionary">Program</span>, the <span class="dictionary">Authority</span> shall consider (i) the potential of the site to fill a gap in the inventory of needed project-ready sites in the Commonwealth, (ii) the scope and cost of the work required to make the site project ready, (iii) the potential return on investment for the Commonwealth for the cost of acquiring and developing the site, and (iv) the type of industry or business for which the site would be suitable.</p></section></text><history>2023, c. 779.</history><metadata></metadata></law>
