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VA SB285
VA SB285Urban Public-Private Partnership Redevelopment grant program; Board of HCD to review, etc.
summary
Introduced
01/13/2026
01/13/2026
In Committee
03/09/2026
03/09/2026
Crossed Over
01/30/2026
01/30/2026
Passed
04/22/2026
04/22/2026
Dead
Signed/Enacted/Adopted
04/22/2026
04/22/2026
Introduced Session
2026 Regular Regular Session
Bill Summary
Department of Housing and Community Development; administration of Urban Public-Private Partnership Redevelopment grant program; report. Directs the Department of Housing and Community Development to review and develop criteria and guidelines for the administration of the Urban Public-Private Partnership Redevelopment grant program in consultation with the Virginia Association of Counties, the Virginia First Cities Coalition, the Virginia Municipal League, and the Virginia Economic Developers Association. The bill requires such criteria to include (i) award prioritization for (a) localities experiencing an above average and high level of fiscal stress as designated by the Commission on Local Government in its most recent Report on Comparative Revenue Capacity, Revenue Effort, and Fiscal Stress of Virginia's Cities and Counties and (b) localities experiencing a significant decrease in commercial real estate assessments and (ii) the amount and type of local matches with consideration of both monetary and non-monetary contribution requirements. The bill requires the Director of the Department to report the Department's findings to the Chairs of the Senate Committee on Finance and Appropriations, the Senate Committee on General Laws and Technology, the House Committee on Appropriations, and the House Committee on General Laws no later than November 1, 2026.
AI Summary
This bill directs the Board of Housing and Community Development to establish rules and criteria for the Urban Public-Private Partnership Redevelopment grant program, which helps fund redevelopment projects involving both government and private entities. In developing these guidelines, the Board must consult with key local government and economic development organizations. The criteria will prioritize grants for localities facing significant financial strain, as identified by the Commission on Local Government's report on fiscal stress, and those experiencing a notable drop in the value of their commercial properties. The guidelines will also consider the value and nature of local contributions, including both cash and in-kind support. Finally, the Board's findings and developed criteria must be reported to legislative committees by November 1, 2026.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (1)
Last Action
Acts of Assembly Chapter text (CHAP1001) (on 04/22/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20261/SB285 |
| BillText | https://lis.virginia.gov/bill-details/20261/SB285/text/CHAP1001 |
| BillText | https://lis.virginia.gov/bill-details/20261/SB285/text/SB285ER2 |
| Governor's Recommendation SB285 | https://lis.virginia.gov/bill-details/20261/SB285/text/SB285G |
| Fiscal Note/Analysis - Fiscal Impact Statement from Department of Planning and Budget (SB285) | https://lis.blob.core.windows.net/files/1215021.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/SB285/text/SB285ER |
| Fiscal Note/Analysis - Fiscal Impact Statement from Department of Planning and Budget (SB285) | https://lis.blob.core.windows.net/files/1100973.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/SB285/text/SB285S1 |
| Fiscal Note/Analysis - Fiscal Impact Statement from Department of Planning and Budget (SB285) | https://lis.blob.core.windows.net/files/1093943.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/SB285/text/SB285 |
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