                                 CODE OF VIRGINIA

HOUSING REVITALIZATION ZONE DESIGNATION (§ 36-160)

A. The governing body of any county, city or town may make written application
to the Department to have an area or areas declared to be a housing
revitalization zone. Such application shall include a description of the
location of the area or areas in question, and a general statement identifying
proposed local incentives to complement the state incentives. Two or more
adjacent jurisdictions may file a joint application for a housing revitalization
zone lying in the jurisdictions submitting the application.

B. The Governor may approve, upon the recommendation of the Director of the
Department, the designation of up to twenty areas as housing revitalization
zones for a period of fifteen years. Any county, city, or town shall be eligible
to apply for more than one housing revitalization zone designation; however,
each county, city, and town shall be limited to a total of two housing
revitalization zones. Any such area shall consist of contiguous United States
census tracts or any portion thereof in accordance with the most current United
States Census or with the most current data from the local planning district
commission. Any such area seeking designation as a housing revitalization zone
shall also meet at least one of the following criteria: (i) have per capita
income below eighty percent of the median per capita income for the planning
district or (ii) have a residential vacancy rate that is at least 120 percent of
the average vacancy rate for the planning district. No more than ten percent of
a locality&#8217;s land area may be in a single housing revitalization zone.

HISTORY: 2000, cc. 789, 795.