                                 CODE OF VIRGINIA

LOANS FOR LAND CONSERVATION (§ 62.1-229.3)

Loans may be made from the Fund, in the Board&#8217;s discretion, to a local
government or a holder as defined in § 10.1-1009 for acquiring fee simple title
to or a permanent conservation or open-space easement in real property upon the
local government or holder establishing to the satisfaction of the Board that
the acquisition will (i) protect or improve water quality and prevent the
pollution of state waters, and (ii) protect the natural or open-space values of
the property or assure its availability for agricultural, forestal,
recreational, or open-space use. The Board shall consult with the Department of
Conservation and Recreation in making a determination on whether the acquisition
will meet the above requirements. Unless otherwise required by law, loans for
land acquisition may be made only in fiscal years in which all loan requests
from local governments for eligible projects as defined in § 62.1-224 have
first been satisfied. The Board shall develop guidelines for the administration
of such loans.

HISTORY: 2003, c. 574; 2010, c. 644.