                                 CODE OF VIRGINIA

ACQUISITION, POSSESSION, AND DISPOSITION OF RAIL FACILITIES; EMINENT DOMAIN (§
33.2-293)

A. The Authority shall have the right to acquire by purchase, lease, or grant
rail facilities and other lands, structures, property, both real and personal,
tangible and intangible, rights, rights-of-way, franchises, easements, and other
interests therein, whether located within or not within the geographic
boundaries of the Commonwealth, for the construction, operation, maintenance,
and use of rail facilities.

B. The Authority shall have the right to hold and dispose of rail facilities and
other lands, structures, property, both real and personal, tangible and
intangible, rights, rights-of-way, franchises, easements, and other interests
therein in the exercise of its powers and the performance of its duties under
this article, including but not limited to the sale, exchange, lease, mortgage,
or pledge of such property or interest therein, provided that any such
disposition that involves property or interests with a fair market value in
excess of $5 million shall require the consent of the Transportation Board.

C. The Commonwealth and any agencies or political subdivisions thereof may
provide services, donate, lease, sell, convey, or otherwise transfer, with or
without consideration or for minimal consideration, real or personal property
and make appropriations to the Authority for the design, acquisition,
construction, equipping, maintenance, and operation of rail facilities and may
issue bonds in the manner provided in the Public Finance Act (&#xA7; 15.2-2600
et seq.) or in its municipal charter for the purpose of providing funds to be
appropriated to the Authority; the Authority may agree to assume, or reimburse
such a political subdivision for, any indebtedness incurred by such political
subdivision with respect to facilities conveyed by it to the Authority.

D. The Authority is authorized to acquire by the exercise of the power of
eminent domain any lands, property rights, rights-of-way, franchises, easements,
and other property, including public lands, parks, playgrounds, reservations,
highways, or parkways, or parts thereof or rights therein, of any person,
partnership, association, railroad, public service, public utility, or other
corporation, or of any municipality, county, or other political subdivision,
deemed necessary for the construction or the efficient operation of rail
facilities or necessary in the restoration, replacement, or relocation of public
or private property damaged or destroyed whenever a reasonable price cannot be
agreed upon with the governing body of such municipality, county, or other
political subdivision as to such property owned by it or whenever the Authority
cannot agree on the terms of purchase or settlement with the other owners
because of the incapacity of such owners, because of the inability to agree on
the compensation to be paid or other terms of settlement or purchase, or because
such owners are nonresidents of the Commonwealth, are unknown, or are unable to
convey valid title to such property. Such proceedings shall be in accordance
with and subject to the provisions of any and all laws of the Commonwealth
applicable to the exercise of the power of eminent domain and subject to the
provisions of Chapter 2 (&#xA7; 25.1-200 et seq.) of Title 25.1. Title to any
property condemned by the Authority shall immediately vest in the Authority, and
the Authority shall be entitled to the immediate possession of such property
upon the deposit with the clerk of the court in which such condemnation
proceedings are originated of the total amount of the appraised price of the
property and court costs and fees as provided by law, notwithstanding that any
of the parties to such proceedings may appeal from any decision in such
condemnation proceedings. Whenever the Authority makes such deposit in
connection with any condemnation proceedings, the making of such deposit shall
not preclude the Authority from appealing any decision rendered in such
proceedings. Upon the deposit with the clerk of the court of the appraised
price, any person entitled thereto may, upon petition to the court, be paid his
or their pro rata share of 100 percent of such appraised price. The acceptance
of such payment shall not preclude such person from appealing any decision
rendered in such proceedings. If the appraisal is greater or less than the
amount finally determined by the decision in such proceedings or by an appeal,
the amount of the increase or decrease shall be paid or refunded to the
Authority.

E. The acquisition of any such property by condemnation or by the exercise of
the power of eminent domain for the purposes provided herein shall be and is
declared to be a public use of such property.

F. For purposes of this section, the terms &#8220;appraised price&#8221; and
&#8220;appraisal&#8221; mean the value determined by two competent real estate
appraisers appointed by the Authority for such purposes.

HISTORY: 2020, cc. 1230, 1275.