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VA SB285
VA SB285Urban Public-Private Partnership Redevelopment grant program; DHCD to review, etc.
summary
Introduced
01/13/2026
01/13/2026
In Committee
02/05/2026
02/05/2026
Crossed Over
01/30/2026
01/30/2026
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Urban Public-Private Partnership Redevelopment Fund; funding requirements; 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 modifies the Urban Public-Private Partnership Redevelopment Fund to allow a wider range of private entities to partner with local governments for redevelopment projects, removes a previous $500,000 limit on grants to local governments, and eliminates the requirement for local governments to match 100% of grant funds. The Department of Housing and Community Development (the Department) will be responsible for creating new guidelines for the grant program, including how to prioritize funding for localities facing significant financial difficulties or declining commercial property values, and what types of local contributions, both financial and non-financial, will be accepted. A work group, including representatives from various local government and economic development organizations, will be formed to develop these criteria and report their recommendations to the General Assembly by November 1, 2026. Additionally, the bill mandates that the Department report annually to state officials on the number of projects funded and the costs associated with the program, and it repeals the Housing Revitalization Zone Act.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (1)
Last Action
Referred to Committee on Rules (on 02/05/2026)
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 |
| 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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