Bill > HB1057

This bill establishes the Virginia Rural Housing Infrastructure Fund and Program, to be managed by the Department of Housing and Community Development, to provide financial assistance for infrastructure projects in rural communities that support new housing development. A "rural community" is defined as a county with 75,000 or fewer residents or a city with 50,000 or fewer residents. The Fund, a special non-reverting fund in the state treasury, will receive appropriations and other contributions, with its earnings remaining in the Fund. The Program will award grants from the Fund, with a total annual grant limit of $20 million, and $5 million specifically set aside for rural communities in southern and southwestern Virginia, with the Department responsible for identifying these regions. The Department will develop criteria and guidelines for administering the Program, which will include identifying qualifying infrastructure projects such as upgrades to water, sewer, and stormwater systems, lot clearing for housing, and improvements to transportation impediments. The guidelines will also prioritize projects with high potential for job creation and investment, those that have secured matching funds, and those promoting collaboration, and will outline eligibility and application requirements for local authorities and planning commissions. Grant recipients must use funds for approved purposes, and the Department can revoke or require repayment of funds if compliance is not met.

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https://lis.virginia.gov/bill-details/20261/HB1057