                                 CODE OF VIRGINIA

HOUSING REVITALIZATION AREAS; ECONOMICALLY MIXED PROJECTS (§ 36-55.30:2)

A. For the sole purpose of empowering the HDA to provide financing in accordance
with this chapter, the governing body of any city or county may by resolution
designate an area within such city or county as a revitalization area if such
governing body shall in such resolution make the following determinations with
respect to such area: (i) either (a) the area is blighted, deteriorated,
deteriorating or, if not rehabilitated, likely to deteriorate by reason that the
buildings, improvements or other facilities in such area are subject to one or
more of the following conditions: dilapidation; obsolescence; overcrowding;
inadequate ventilation, light or sanitation; excessive land coverage;
deleterious land use; or faulty or inadequate design, quality or condition; or
(b) the industrial, commercial or other economic development of such area will
benefit the city or county but such area lacks the housing needed to induce
manufacturing, industrial, commercial, governmental, educational, entertainment,
community development, healthcare or nonprofit enterprises or undertakings to
locate or remain in such area; and (ii) private enterprise and investment are
not reasonably expected, without assistance, to produce the construction or
rehabilitation of decent, safe and sanitary housing and supporting facilities
that will meet the needs of low and moderate income persons and families in such
area and will induce other persons and families to live within such area and
thereby create a desirable economic mix of residents in such area. Any
redevelopment area, conservation area, or rehabilitation area created or
designated by the city or county pursuant to Chapter 1 (&#xA7; 36-1 et seq.) of
this title, any census tract in which 70 percent or more of the families have
incomes which are 80 percent or less of the statewide median income as
determined by the federal government pursuant to Section 143 of the United
States Internal Revenue Code or any successor code provision on the basis of the
most recent decennial census for which data are available, and any census tract
which is designated by the United States Department of Housing and Urban
Development and, for the most recent year for which census data are available on
household income in such tract, either in which 50 percent or more of the
households have an income which is less than 60 percent of the area median gross
income for such year or which has a poverty rate of at least 25 percent shall be
deemed to be designated as a revitalization area without adoption of the above
described resolution of the city or county. In any revitalization area, the HDA
may provide financing for one or more economically mixed projects and, in
conjunction therewith, any nonhousing buildings that are incidental to such
project or projects or are determined by the governing body of the city or
county to be necessary or appropriate for the revitalization of such area or for
the industrial, commercial or other economic development thereof.

B. The HDA may finance an economically mixed project that is not within a
revitalization area if the governing body of the city or county in which such
project is or will be located shall by resolution determine (i) either (a) that
the ability to provide residential housing and supporting facilities that serve
persons or families of lower or moderate income will be enhanced if a portion of
the units therein are occupied or held available for occupancy by persons and
families who are not of low and moderate income or (b) that the surrounding area
of such project is, or is expected in the future to be, inhabited predominantly
by lower income persons and families and will benefit from an economic mix of
residents in such project and (ii) private enterprise and investment are not
reasonably expected, without assistance, to produce the construction or
rehabilitation of decent, safe and sanitary housing and supporting facilities
that will meet the needs of low and moderate income persons and families in such
area and will induce other persons and families to live within such area and
thereby create a desirable economic mix of residents in such area.

C. In any economically mixed project financed under this section, the percentage
of units occupied or held available for occupancy by persons and families who
are not of low and moderate income, as determined as of the date of their
initial occupancy of such units, shall not exceed 80 percent.

HISTORY: 1979, c. 374; 1996, cc. 77, 498; 2004, c. 187; 2006, c. 784.