                                 CODE OF VIRGINIA

DEFINITIONS (§ 10.1-603.28)

As used in this article, unless the context requires a different meaning:
		&#8220;Authority&#8221; means the Virginia Resources Authority created in
Chapter 21 (§ 62.1-197 et seq.) of Title 62.1.
		&#8220;Cost,&#8221; as applied to any project financed under the provisions of
this article, means the total of all costs incurred as reasonable and necessary
for carrying out all works and undertakings necessary or incident to the
accomplishment of any project. &#8220;Cost&#8221; includes, without limitation,
all necessary developmental, planning, and feasibility studies, surveys, plans
and specifications, architectural, engineering, financial, legal, or other
special services, the cost of acquisition of land and any buildings and
improvements thereon, including the discharge of any obligations of the sellers
of such land, buildings, or improvements, site preparation and development,
including demolition or removal of existing structures, construction and
reconstruction, labor, materials, machinery and equipment, the reasonable costs
of financing incurred in the course of the development of the project, carrying
charges incurred before placing the project in service, interest on funds
borrowed to finance the project to a date subsequent to the estimated date the
project is to be placed in service, necessary expenses incurred in connection
with placing the project in service, the funding of accounts and reserves that
the Authority may require, and the cost of other items that the Authority
determines to be reasonable and necessary.
		&#8220;Department&#8221; means the Department of Conservation and Recreation.
		&#8220;Fund&#8221; means the Resilient Virginia Revolving Fund created by this
article.
		&#8220;Local government&#8221; means any county, city, town, municipal
corporation, authority, district, commission, or political subdivision created
by the General Assembly or pursuant to the Constitution or laws of the
Commonwealth or any combination of any two or more of the foregoing.
		&#8220;Person&#8221; has the same meaning as set forth in § 1-230.
		&#8220;Project&#8221; means (i) home upgrades for resilience purposes, home
buyouts necessary for the construction of mitigation or resilience projects,
relocations, and buyout assistance for homes, all including multifamily units;
(ii) gap funding related to buyouts in order to move residents out of floodplain
hazard areas and restore or enhance the natural flood mitigation capacity of
functioning floodplains; (iii) assistance to low-income and moderate-income
homeowners to help lower flood risk through structural and nonstructural
mitigation projects, or other means; (iv) loans and grants to persons for hazard
mitigation and infrastructure improvement projects for resilience purposes; and
(v) projects identified in the Virginia Flood Protection Master Plan or the
Virginia Coastal Resilience Master Plan.
		&#8220;Resilience&#8221; means the capability to anticipate, prepare for,
respond to, and recover from significant multi-hazard threats with minimum
damage to social well-being, health, the economy, and the environment.

HISTORY: 2022, cc. 739, 782.