Agencies | Governor
Virginia Regulatory Town Hall
Agency
Department of Housing and Community Development
Board
Board of Housing and Community Development
chapter
Enterprise Zone Grant Program Regulation [13 VAC 5 ‑ 112]
This action is exempt from the executive branch review process.
Action:
Enterprise Zone Grant Program Regulation
 
General Information
Action Summary This action is required to align Regulations with the changes in the Virginia Enterprise Zone statute made by the 2009 General Assembly. Revisions necessitated by the General Assembly’s changes are detailed below. -Update 13VAC5-112-340 Computation of the Real Property Investment Grant: -Increase from $50,000 to $100,000 the minimum eligibility investment for rehabilitation or expansion of a building -Increase from $250,000 to $500,000 the minimum eligibility investment new construction -Calculate grants at a rate of 20 percent of the amount of qualified real property investment in excess of the appropriate minimum investment threshold -Adjust grant caps to $100,000 for investors making $5 million or less in qualified real property investment (down from $125,000) -Adjust grant caps to $200,000 for investors making more than $5 million in qualified real property investment (down from $250,000)
Chapters Affected Only affects this chapter.
Exempt from APA Yes, this action is exempt from Article II of the APA and executive branch review.
Exempt Citation: 2.2-4006 4(a)
RIS Project Yes  [001819]
New Periodic Review This action will not be used to conduct a new periodic review.
 
Stages
Stages associated with this regulatory action.
Stage ID Stage Type Status
5249 Final Stage complete. This regulation became effective on 10/14/2009.
 
Contact Information
Name / Title: Kyle Flanders  / Senior Policy Analyst
Address: Main Street Centre
600 East Main Street, Suite 300
Richmond, VA 23219
Email Address: kyle.flanders@dhcd.virginia.gov
Phone: (804)786-6761    FAX: (804)371-7090    TDD: (804)371-7089

This person is the primary contact for this agency.