                                 CODE OF VIRGINIA

FINDING OF PUBLIC INTEREST (§ 33.2-1803.1)

A. Prior to the meeting of the Committee pursuant to subsection C of &#xA7;
33.2-1803.2, the chief executive officer of the responsible public entity shall
make a finding of public interest. Such finding shall include information set
forth in subsection B. For transportation facilities where the Department of
Transportation, the Virginia Passenger Rail Authority, or the Department of Rail
and Public Transportation is the responsible public entity, the Secretary of
Transportation, in his role as chairman of the Board, must concur with the
finding of public interest.

B. At a minimum, a finding of public interest shall contain the following
information:

   1. A description of the benefits expected to be realized by the responsible
   public entity through the development and/or operation of the transportation
   facility, including person throughput, congestion mitigation, safety, economic
   development, environmental quality, and land use.

   2. An analysis of the public contribution necessary for the development and/or
   operation of the facility or facilities pursuant to subsection A of &#xA7;
   33.2-1803.1:1, including a maximum public contribution that will be allowed
   under the procurement.

   3. A description of the benefits expected to be realized by the responsible
   public entity through the use of this chapter compared with the development
   and/or operation of the transportation facility through other options
   available to the responsible public entity.

   4. A statement of the risks, liabilities, and responsibilities to be
   transferred, assigned, or assumed by the private entity, which shall include
   the following:
   				a. A discussion of whether revenue risk will be transferred to the private
   entity and the degree to which any such transfer may be mitigated through
   other provisions in the interim or comprehensive agreements;
   				b. A description of the risks, liabilities, and responsibilities to be
   retained by the responsible public entity; and
   				c. Other items determined appropriate by the responsible public entity in
   the guidelines for this chapter.

   5. The determination of whether the project has a high, medium, or low level
   of project delivery risk and a description of how such determination was made.
   If the qualifying transportation facility is determined to contain high risk,
   a description of how the public&#8217;s interest will be protected through the
   transfer, assignment, or assumption of risks or responsibilities by the
   private entity in the event that issues arise with the development and/or
   operation of the qualifying transportation facility.

   6. If the responsible public entity proposes to enter into an interim or
   comprehensive agreement pursuant to subdivision 2 of &#xA7; 33.2-1819,
   information and the rationale demonstrating that proceeding in this manner is
   more beneficial than proceeding pursuant to subdivision 1 of &#xA7; 33.2-1819.

HISTORY: 2015, c. 612; 2017, cc. 539, 551; 2020, cc. 1230, 1275.