Urban Public-Private Partnership Redevelopment Fund; funding requirements, report.
Sponsored By: Gretchen M. Bulova (Democratic)
In Committee
Summary
Urban Public-Private Partnership Redevelopment Fund; funding requirements; report. Revises the Urban Public-Private Partnership Redevelopment Fund by expanding the qualifying private entities available for partnership with a local government for the redevelopment of local sites, removing the existing $500,000 grant cap for such local government, and eliminating the requirement that each grant be conditioned upon a 100 percent match of funds by the local government. The bill requires the Department of Housing and Community Development (the Department), on or before December 1 of each year, to submit a report to the Secretary of Commerce and Trade, the Governor, and the Chairs of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations, including the number of projects funded and the costs of the Fund. In addition, the bill directs the Department to convene a work group to develop appropriate criteria and guidelines for the administration of the grant program established by the Fund, including for (i) how to prioritize awards for (a) localities experiencing an above average and high level of fiscal stress as designated by the Commission on Local Government and (b) localities experiencing a significant decrease in commercial real estate assessments and (ii) the amount and type of local match, including both requirements that consider monetary contributions and non-monetary contributions. The bill requires the work group to include representatives of the Department, the Virginia Association of Counties, the Virginia First Cities Coalition, the Virginia Municipal League, and the Virginia Economic Developers Association and to report its findings and recommendations to the General Assembly by November 1, 2026. Under current law, the Board of Housing and Community Development is directed to develop guidelines for administration of the Fund. Finally, the bill repeals the Housing Revitalization Zone Act.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Gretchen M. Bulova
Democratic • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Continued from last session
7/21/2026HouseContinued to 2027 in Counties, Cities and Towns (Voice Vote)
1/30/2026HouseSubcommittee recommends continuing to 2028 (Voice Vote)
1/30/2026HouseAssigned HCCT sub: Subcommittee #1
1/28/2026HouseFiscal Impact Statement from Department of Planning and Budget (HB1376)
1/23/2026HouseReferred to Committee on Counties, Cities and Towns
1/21/2026HousePresented and ordered printed 26102021D
1/21/2026House
Bill Text
Introduced
1/21/2026
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