                                 CODE OF VIRGINIA

PURPOSE OF AUTHORITY; PERFORMS GOVERNMENTAL FUNCTION (§ 15.2-6002)

The primary purpose of the Authority is to enhance the economic base for the
seven county and one city coalfield region of Virginia (Lee, Wise, Scott,
Buchanan, Russell, Tazewell and Dickenson Counties and the City of Norton).
		The Authority shall provide financial support for the purchase of real estate,
construction of buildings for sale or lease, installation of utilities, direct
loans and grants to private for-profit basic employers; may apply for matching
funds from the state or federal government, or the private sector; and any other
support improvements it deems necessary, including flood control dams. All such
loans and grants may be managed by the LENOWISCO and Cumberland Plateau Planning
District Commissions in their respective service areas.
		The exercise of the powers granted by this chapter shall be in all respects
for the benefit of the inhabitants of the Commonwealth, particularly the
aforesaid seven county and one city areas, for the increase of their commerce,
and for the promotion of their safety, health, welfare, convenience and
prosperity.

HISTORY: 1988, c. 833, § 15.1-1637; 1990, c. 341; 1992, c. 32; 1997, c. 587.